The DAME excise tax will reportedly target institutions engaged in crypto mining. This means Bitcoin’s hash rate may drop significantly if the new tax pushes such companies to a corner.
of Bitcoin’s hash rate. This means most Bitcoin miners are currently located in the U.S. and most of that hash rate is contributed by companies that specifically focus on crypto mining.
The DAME excise tax will reportedly target institutions engaged in crypto mining. This means Bitcoin’s hash rate may drop significantly if the new tax pushes such companies to a corner, forcing them to halt operations. Alternatively, many of them might be forced to shift their operations outside the U.S. Individuals running mining operations from home will likely not be affected.Bitcoin’s hash rate is likely strong enough to withstand a significant hash rate decline. This is because miners in other jurisdictions would pick up the slack. Miner revenue would likely not be affected as much but the high tax would likely eat into mining profitability.
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