Texas Offers New Tax Benefit to Attract Bitcoin Miners

Texas will open its doorways subsequent month to a brand new incentive geared toward chopping greenhouse fuel emissions from flared and vented fuel, providing a severance tax exemption to vitality producers utilizing the fugitive emissions to energy Bitcoin mining rigs.

Below a regulation enacted earlier this yr, HB 591, Texas will waive taxes on fuel consumed on the effectively web site that will in any other case be lawfully vented or flared—also known as “stranded fuel.” This system may assist Texas lower releases of stranded fuel, a serious supply of CO2 emissions, methane, and pollution ensuing from burning fuel. As well as, the oil …