BitDigital, a Bitcoin mining company, is installing mining machines in Iceland to cope with potential mining taxes in the United States
On May 18th, the Wall Street Journal reported that BitDigital, a Bitcoin mining company headquartered in New York, is expanding its business to Iceland in an attempt to hedge the regulatory risks it faces as the Biden administration proposes to impose a cryptocurrency mining tax.Samir Tabar, CEO of NASDAQ listed company BitDigital, said that the company spent $5 million last week to purchase 2500 new Bitcoin mining machines and will place them in Iceland, marking the first time in two years that the company has shipped new computers outside the United States
On May 18th, the Wall Street Journal reported that BitDigital, a Bitcoin mining company headquartered in New York, is expanding its business to Iceland in an attempt to hedge the regulatory risks it faces as the Biden administration proposes to impose a cryptocurrency mining tax.
Samir Tabar, CEO of NASDAQ listed company BitDigital, said that the company spent $5 million last week to purchase 2500 new Bitcoin mining machines and will place them in Iceland, marking the first time in two years that the company has shipped new computers outside the United States.
According to reports, the power consumption of Bitcoin mining companies has caused anger in the Biden government. The Biden government claims that these mining companies are driving up the cost of electricity from shared grids, and also mentions the impact of increased electricity demand on the environment. The US Treasury proposed in a March document that digital asset mining companies should pay a tax equivalent to 30% of their electricity costs.
Tag: mining in BitDigital Bitcoin company is installing machines Iceland
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