Share this article
BTC
$77,306.90
-
7.11%ETH
$1,545.52
-
13.75%USDT
$0.9994
-
0.04%XRP
$1.8863
-
11.13%BNB
$546.38
-
7.28%USDC
$1.0002
+
0.01%SOL
$104.43
-
12.55%DOGE
$0.1468
-
12.42%TRX
$0.2284
-
3.67%ADA
$0.5627
-
13.40%LEO
$8.8821
-
2.72%LINK
$11.06
-
13.17%TON
$2.8846
-
11.00%XLM
$0.2239
-
10.62%SHIB
$0.0₄1109
-
9.55%AVAX
$15.72
-
11.37%SUI
$1.9013
-
13.89%HBAR
$0.1368
-
14.89%OM
$5.7133
-
7.60%BCH
$267.04
-
11.48%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Kentucky Governor Signs Tax Breaks for Crypto Miners Into Law
The commonwealth wants to become a hub for energy-heavy businesses like crypto mining.
Kentucky will offer tax breaks to cryptocurrency miners who operate in the energy-rich commonwealth under a pair of laws Governor Andy Beshear signed Thursday.
STORY CONTINUES BELOW
- Senate Bill 255 extends the commonwealth's clean energy-focused incentives to miners who invest at least $1 million in equipment. House Bill 230 similarly offers miners a series of sales and excise tax breaks.
- Together, the bills work to woo cryptocurrency miners, and thus business revenue and jobs, to communities whose economies have been ravaged by a manufacturing exodus from Kentucky but retain an abundance of cheap energy.
- Kentucky wants "to become a national leader in emerging industries which use substantial amounts of energy," said one of the bills. Cryptocurrency mining is indeed a major consumer of energy.
- The bills marched through Kentucky's legislature following their introduction earlier this year.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
