TechFlow news, on October 3, according to Decrypt, New York State Democratic Senator Liz Krueger and Assemblymember Anna Kelles introduced a new bill proposing a tiered electricity consumption tax on Bitcoin miners. The tax rate would range from 2 to 5 cents per kilowatt-hour depending on usage, with miners using sustainable energy sources eligible for exemption.
Studies show that cryptocurrency mining facilities have caused New York residents to pay an additional $79 million annually in electricity costs, while small businesses pay an extra $165 million. Tax revenues collected will be used to support the state's energy assistance programs for low-income households.
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