Mining under pressure: New York wants to make Bitcoin miners pay

• A new bill proposes imposing a graduated electricity consumption tax on Bitcoin miners in New York State. This could significantly impact the profitability of the business.
• Small operators with consumption of less than 2.25 million kilowatt hours (kWh) would be exempt from the levy. Larger companies, however, would face an increase in fees of up to 5 cents per kWh.
• After Texas, New York is considered one of the most important locations for the mining industry in the United States. New York is more dependent on nuclear energy and simultaneously produces more hydroelectric power than any other US state.
• For many Bitcoin miners, the timing is extremely unfortunate. According to TheMinerMag, the average “production cost” for one Bitcoin rose to over $70,000 in the second quarter of 2025. In Ethiopia, by contrast, you can get one BTC for just $20,000.
• However, mining companies that rely exclusively on renewable energy sources would be exempt from the new tax. Supporters of the bill therefore see this as an opportunity to curb negative environmental impacts.
• The world's largest publicly traded mining companies are predominantly based in the United States. These include MARA Holdings, Riot Blockchain, and Core Scientific.

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Sources

• Bill I New York Senate

Eine Quelle: btc-echo.de