“DAME Tax: Biden’s Plan to Tax Crypto Miners Up to 30% of Energy Consumption”

Crypto players, who readily claim to be decentralized and stateless, will, with Joe Biden, have the opportunity to test their national ties. A new measure, dubbed Digital Asset Mining Energy Tax (DAME), published on May 2 as part of the 2024 federal budget and which must be submitted to Congress, suggests taxing bitcoin miners up to 30% of the energy consumed . These gigantic energy-guzzling server farms have multiplied in Texas since their interdiction in China at the end of 2021.

“While cryptoassets are virtual [seul le bitcoin, de par sa méthode de minage, est vraiment concerné ici, NDLR]the energy consumption linked to their production is very real”, points out the White House, citing in passing a recent New York Times survey . This showed that 34 American crypto factories consume as much as 3 million households (3,900 megawatts) with negligible benefits for the real economy. Their activity contributes, according to the daily, to add 16.4 million tons of CO2 to the atmosphere per year, while capturing state subsidies.