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The Utter Folly of Biden's Proposed Bitcoin Mining Tax

The Breakdown

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Bitcoin Mining in the US

The Biden admin claims that China bans such activity completely in 2021 but we know there is still meaningful Bitcoin mining in China. In practice, mining in the US is generally cleaner than the generic grid at the country level. Mining with otherwise flared gas is actually carbon negative overall. As for the purported costs imposed by Bitcoin miners on local communities, that argument is highly dubious. Miners are just data centers. They don't produce pollutants or toxic waste.

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