Georgia becomes latest US state to weigh tax incentives for Bitcoin miners
Legislation filed earlier this week indicates that George is the latest US state to consider potential tax incentives for cryptocurrency miners that operate in the state.
Georgia House Bill 1342, filed on February 14, aims to “exempt the sale or use of electricity used in the commercial mining of digital assets.” The bill was introduced by a quintet of Republican state lawmakers.
The focus on sales and use taxes mirrors the approach taken last year by Kentucky, which passed a similar law in a bid to draw in miners.
The move is perhaps unsurprising given the existing footprint for miners in Georgia. Fortune profiled the landscape earlier this year, noting that major American firms like Foundry have operations in the state. Reporting by 13WMAZ last year indicates that access to nuclear power had the state an attractive option for mine operators.
Illinois lawmakers are also considering the amendment of data center incentives to account for crypto miners, as The Block reported earlier this week.
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Author: Michael McSweeney
