White House Proposes 30% Energy Tax To Address Environmental Crypto Mining Costs

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If you mine digital assets—like cryptocurrency—your job might soon become a little more expensive.

Crypto Mining

Mining for digital assets is a process for validating transactions on a network. Since no one controls the network, no centralized account automatically records debits and credits. Shared user records are added to a distributed ledger—the virtual equivalent of the old green accounting ledgers. Verifying those transactions is essential and requires high-powered computers to perform complicated calculations quickly.

 

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