Will Biden’s plan to tax crypto mining reduce emissions? Critics say no By Cointelegraph

Cryptocurrency miners based in the United States could soon face a tax equal to 30% of the cost of electricity they use if President Joe Biden’s proposed budget for the fiscal year 2024 is approved by Congress, but the proposal has sparked debate about whether it would actually decrease global emissions and energy prices.

Cryptocurrency mining is a resource-intensive process that attempts to solve increasingly complex equations in order to create new blocks which can then be validated and added to the blockchain.