New York is preparing to strike against miners: a tax on electricity is already on the way

State Democrats have introduced a bill that will impose an excise tax on energy for PoW mining companies. Here’s what you need to know:

💡 The essence: a tax of 2 to 5 cents per kWh, but only if consumption exceeds 2.25 million kWh per year

🌱 The point is that completely renewable energy sources ( not connected to the grid ) are exempt from tax — apparently, the state wants "green" mining.

📅 If the law passes, it will come into effect on January 1, 2027. Currently, both versions of the bill ( are under review in the committees of the chamber and the senate ).

🤔 Interesting move: the collected funds are directed towards the energy accessibility program. In fact, it’s about shifting some social responsibilities onto the crypto industry.

The question in the air: how many miners will move to neighboring states after this? Texas is definitely rubbing its hands 👀