Kentucky lawmakers propose tax exemptions for bitcoin miners

Representatives of the Kentucky House of Representatives introduced a bill offering tax breaks for bitcoin miners. It is designed to boost the state’s appeal for commercial cryptocurrency mining.

The 13-page bill was authored by Stephen Rudy and Chris Freeland. In the preamble they note that Kentucky “could become a national leader” in mining due to cheap electricity.

The bill would exempt miners from paying a 6% sales tax or a 6% excise tax on electricity bills and on equipment. In the lawmakers’ view, the exemptions will help the region compete with other states.

HB230 by ForkLog on Scribd

The Ukrainian oligarch Ihor Kolomoyskyi opened mining farm in the premises of the CC Metals & Alloys steel plant in Kentucky.

Subscribe to ForkLog news on VK!