New York State Senator Liz Krueger introduced a bill on Wednesday to impose excise taxes on energy used by crypto mining companies operating facilities in the state.

The data-ct-non-breakable=”null” href=”https://www.nysenate.gov/legislation/bills/2025/S8518″ rel=”noopener nofollow” target=”_blank” title=”null”>proposed excise tax, which is data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/is-biden-s-controversial-bitcoin-mining-tax-dead-or-set-to-rise-from-the-ashes” title=”null”>not the first legislative initiative of its kind, will be levied in tiers, with no charge for miners consuming 2.25 million kilowatt-hours (kWh) or less per year and a tax of 2 cents per kWh for miners who consume 2.26 million to 5 million kWh annually.

Miners who consume between 5 million-10 million kWh per year face a tax of 3 cents per kWh; those using…

New York State Senator Liz Krueger introduced a bill on Wednesday to impose excise taxes on energy used by crypto mining companies operating facilities in the state.

The data-ct-non-breakable=”null” href=”https://www.nysenate.gov/legislation/bills/2025/S8518″ rel=”noopener nofollow” target=”_blank” title=”null”>proposed excise tax, which is data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/is-biden-s-controversial-bitcoin-mining-tax-dead-or-set-to-rise-from-the-ashes” title=”null”>not the first legislative initiative of its kind, will be levied in tiers, with no charge for miners consuming 2.25 million kilowatt-hours (kWh) or less per year and a tax of 2 cents per kWh for miners who consume 2.26 million to 5 million kWh annually.

Miners who consume between 5 million-10 million kWh per year face a tax of 3 cents per kWh; those using…