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BTC miners are affected by the increase in power rates

BTC miners
TL;DR Breakdown

• The White House could increase the electric rate for BTC miners to 29 percent
• New York would be debating a legal plan supporting crypto-mining

BTC miners A few days before the start of June, the crypto mining industry is optimistic, reporting an increase in its operations. The United States is among the most relevant countries for Bitcoin mining or other decentralized tokens. The Washington government has increased the electricity rate to benefit the BTC miners.

According to reports, the government of Joe Biden increases the electricity rate to 29 percent. Research suggests that cryptocurrency mining consumes around 204.5 TW/h per year, comparable to all the energy used in countries like Thailand for the same period.

Crypto-miners will increase their operations in the US

BTC miners

More than a year after the sanctions imposed by China on crypto-miners, the North American territory serves as a replacement for all those crypto companies. However, BTC miners have had to adapt to the laws imposed in the country, mostly focused on reducing harmful gases. Since 2021, miners have promoted the use of renewable electricity to meet that demand.

Companies like Bit Digital and BlockFusion have installed machinery used to recover energy and make it clean. Each development prevents the increase of toxic gases, although it is still not enough for the US government.

It is reported that the Biden cabinet is planning to reduce the electricity dedicated to crypto mining farms in the country. Also, a group of legislators is fighting to increase the electricity rate.

Capital is divided by the BTC miners

BTC miners

While US lawmakers fight over the crypto-mining laws, Washington remains divided as the number of BTC miners increases. The national radio station KPQ indicated that Douglas County does not allow Bitcoin mining. This is because crypto mining could take over 25 percent of the electricity its citizens consume.

For some time now, the capital city was the central point of crypto operations, but with the latest laws imposed, this has slowed down. Crypto-mining farms have reportedly moved to cities like New York due to flexibility imposed by its mayor and many legislators.

The crypto mining industry has been so active in the Big Apple that its legislators created a legal project. It is indicated that the plan would approve the work of the mining farms for about three years. The plan will be represented on June 13, 2022, and its results will be seen in subsequent weeks.

Carisbel Guaramato

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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