Biden’s advisers explain their initiative by spending huge amounts of electricity on mining bitcoin and other cryptocurrencies. In addition, as noted in the advisory board report, research has shown that local taxes that are too low in the budget are offset by rising energy prices.
In the presented report, it is stated that especially in 2022, the Bitcoin mining industry consumes a total of 161 TWh of electricity, which is more than the average consumption of a country like Sweden. But that’s not all: mining harms the environment and affects climate change.
“Certainly, the DAME tax is not a panacea – it is just one example of the administration’s efforts to combat climate change, lower energy prices and expand access to electrified options for all Americans,” the report and the recommendation formulated based on it. sent to Congress.
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