The U.S. government has proposed a tax on electricity consumption specifically for crypto mining, set at a 10% rate of the consumed energy cost. The initiative aims to mitigate impacts on the power grid and the environment.

Projections indicate that this new tax could potentially contribute up to $300 million annually to the national budget. However, mining companies are strongly opposing the proposal, arguing that it could diminish their competitive edge and prompt investments to flow into other countries.

The proposed bill is still under discussion. If enacted, it could significantly transform the U.S. crypto mining landscape, potentially encouraging miners to adopt more energy-efficient technologies and shift towards renewable energy sources.