\n<\/p>\n
On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets \u201cmaking crypto miners pay for the costs they impose on others\u201d regarding the environmental impact of crypto mining activities.<\/strong><\/p>\nCrypto Miners Could Face Gradually Increasing Tax With Biden\u2019s DAME Proposal<\/h2>\nWith the White House\u2019s Council of Economic Advisors expressing alarm over the so-called climate crisis, Biden\u2019s administration argues that crypto asset mining\u2019s energy consumption brings about \u201cnegative spillovers on the environment, quality of life, and electricity grids where these firms locate across the country.\u201d<\/p>\nTo address these environmental costs, the White House believes that the Digital Asset Mining Energy (DAME) tax will encourage companies to \u201cstart taking better account of the harms they impose on society.\u201d The DAME tax intends to levy a gradually increasing tax on crypto asset miners in the United States, ultimately reaching 30%.<\/p>\nIn the blog post, the White House refers to a recent New York Times article that was accused of being a biased \u201cone-side hit piece\u201d that relied on dated data while offering no counterarguments. Moreover, the Biden administration includes a comparison between electricity used for mining and power consumption concerning America\u2019s residential lighting \u2013 a tactic viewed as deceptive in making readers believe that technology is stealing energy resources earmarked for human use.<\/p>\nHowever, this comparison neglects to factor in benefits provided by applied direct response systems or current research findings from ESG analyst Daniel Batten. The Biden administration\u2019s message fails to acknowledge renewable energy sources leveraged by bitcoin miners or how mining can mitigate flare emissions.<\/p>\nEven so, the White House contends that miners who utilize renewable energy actually \u201creduce the amount of clean power available for other uses,\u201d leading to increased prices for consumers. The term \u201cdirty\u201d is employed numerous times when referencing supposedly \u201cdirtier sources of electricity.\u201d<\/p>\nLastly, the White House highlights that the DAME tax represents \u201conly one example of the administration\u2019s efforts to fight climate change.\u201d It serves as merely the \u201cstart of having crypto miners pay their fair share of the costs imposed on local communities and the environment.\u201d<\/p>\n\nTags in this story<\/p>\nBiden Administration, climate crisis, Council of Economic Advisors, crypto mining, DAME, DAME tax, Digital Assets, electricity grids, environmental impact, fair share, local communities, negative spillovers, Renewable Energy<\/div>\n<\/div>\nWhat are your thoughts on the DAME tax proposal? Do you believe it will effectively address the alleged environmental costs of crypto mining, or do you think it unfairly targets the mining industry? Share your opinions in the comments section below.<\/strong><\/p>\n\n\n<\/noscript>\n<\/div>\n\nJamie Redman <\/p>\n\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.<\/p>\n<\/span>\n<\/p>\n<\/div>\n<\/div>\nImage Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/p>\n\nDisclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n\nMore Popular News<\/span><\/h4>\nIn Case You Missed It<\/span><\/h4>\n<\/div>\n<\/div>\n\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets \u201cmaking crypto miners pay for the costs they impose on others\u201d regarding the environmental impact of crypto mining activities. […]<\/p>\n","protected":false},"author":1,"featured_media":4305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-4304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining"],"yoast_head":"\nWhite House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/white-house-pushes-dame-tax-proposal-to-address-alleged-environmental-costs-of-crypto-mining-mining-bitcoin-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"White House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News\" \/>\n<meta property=\"og:description\" content=\"On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. 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With the White House\u2019s Council of Economic Advisors expressing alarm over the so-called climate crisis, Biden\u2019s administration argues that crypto asset mining\u2019s energy consumption brings about \u201cnegative spillovers on the environment, quality of life, and electricity grids where these firms locate across the country.\u201d<\/p>\n
To address these environmental costs, the White House believes that the Digital Asset Mining Energy (DAME) tax will encourage companies to \u201cstart taking better account of the harms they impose on society.\u201d The DAME tax intends to levy a gradually increasing tax on crypto asset miners in the United States, ultimately reaching 30%.<\/p>\n
In the blog post, the White House refers to a recent New York Times article that was accused of being a biased \u201cone-side hit piece\u201d that relied on dated data while offering no counterarguments. Moreover, the Biden administration includes a comparison between electricity used for mining and power consumption concerning America\u2019s residential lighting \u2013 a tactic viewed as deceptive in making readers believe that technology is stealing energy resources earmarked for human use.<\/p>\n
However, this comparison neglects to factor in benefits provided by applied direct response systems or current research findings from ESG analyst Daniel Batten. The Biden administration\u2019s message fails to acknowledge renewable energy sources leveraged by bitcoin miners or how mining can mitigate flare emissions.<\/p>\n
Even so, the White House contends that miners who utilize renewable energy actually \u201creduce the amount of clean power available for other uses,\u201d leading to increased prices for consumers. The term \u201cdirty\u201d is employed numerous times when referencing supposedly \u201cdirtier sources of electricity.\u201d<\/p>\n
Lastly, the White House highlights that the DAME tax represents \u201conly one example of the administration\u2019s efforts to fight climate change.\u201d It serves as merely the \u201cstart of having crypto miners pay their fair share of the costs imposed on local communities and the environment.\u201d<\/p>\n
Tags in this story<\/p>\n
What are your thoughts on the DAME tax proposal? Do you believe it will effectively address the alleged environmental costs of crypto mining, or do you think it unfairly targets the mining industry? Share your opinions in the comments section below.<\/strong><\/p>\n\n\n<\/noscript>\n<\/div>\n\nJamie Redman <\/p>\n\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.<\/p>\n<\/span>\n<\/p>\n<\/div>\n<\/div>\nImage Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/p>\n\nDisclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n\nMore Popular News<\/span><\/h4>\nIn Case You Missed It<\/span><\/h4>\n<\/div>\n<\/div>\n\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets \u201cmaking crypto miners pay for the costs they impose on others\u201d regarding the environmental impact of crypto mining activities. […]<\/p>\n","protected":false},"author":1,"featured_media":4305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-4304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining"],"yoast_head":"\nWhite House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/white-house-pushes-dame-tax-proposal-to-address-alleged-environmental-costs-of-crypto-mining-mining-bitcoin-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"White House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News\" \/>\n<meta property=\"og:description\" content=\"On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. 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Jamie Redman <\/p>\n
\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.<\/p>\n<\/span>\n<\/p>\n<\/div>\n<\/div>\nImage Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/p>\n\nDisclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n\nMore Popular News<\/span><\/h4>\nIn Case You Missed It<\/span><\/h4>\n<\/div>\n<\/div>\n\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets \u201cmaking crypto miners pay for the costs they impose on others\u201d regarding the environmental impact of crypto mining activities. […]<\/p>\n","protected":false},"author":1,"featured_media":4305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-4304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining"],"yoast_head":"\nWhite House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/white-house-pushes-dame-tax-proposal-to-address-alleged-environmental-costs-of-crypto-mining-mining-bitcoin-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"White House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News\" \/>\n<meta property=\"og:description\" content=\"On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. 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<\/span>\n<\/p>\n<\/div>\n<\/div>\n
Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/p>\n\nDisclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n\nMore Popular News<\/span><\/h4>\nIn Case You Missed It<\/span><\/h4>\n<\/div>\n<\/div>\n\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets \u201cmaking crypto miners pay for the costs they impose on others\u201d regarding the environmental impact of crypto mining activities. […]<\/p>\n","protected":false},"author":1,"featured_media":4305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-4304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining"],"yoast_head":"\nWhite House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/white-house-pushes-dame-tax-proposal-to-address-alleged-environmental-costs-of-crypto-mining-mining-bitcoin-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"White House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News\" \/>\n<meta property=\"og:description\" content=\"On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. 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The DAME tax targets \u201cmaking crypto miners pay for the costs they impose on others\u201d regarding the environmental impact of crypto mining activities. […]<\/p>\n","protected":false},"author":1,"featured_media":4305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-4304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining"],"yoast_head":"\nWhite House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/white-house-pushes-dame-tax-proposal-to-address-alleged-environmental-costs-of-crypto-mining-mining-bitcoin-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"White House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News\" \/>\n<meta property=\"og:description\" content=\"On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. 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\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets \u201cmaking crypto miners pay for the costs they impose on others\u201d regarding the environmental impact of crypto mining activities. […]<\/p>\n","protected":false},"author":1,"featured_media":4305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-4304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining"],"yoast_head":"\nWhite House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/white-house-pushes-dame-tax-proposal-to-address-alleged-environmental-costs-of-crypto-mining-mining-bitcoin-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"White House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining \u2013 Mining Bitcoin News\" \/>\n<meta property=\"og:description\" content=\"On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets \u201cmaking crypto miners pay for the costs they impose on others\u201d regarding the environmental impact of crypto mining activities. 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On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president\u2019s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets \u201cmaking crypto miners pay for the costs they impose on others\u201d regarding the environmental impact of crypto mining activities. […]<\/p>\n","protected":false},"author":1,"featured_media":4305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-4304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining"],"yoast_head":"\n
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