A Different Kind Of Mining Comes To Kentucky….
….and it’s not coal mining. Nope, Bitcoin mining is actually pretty big in Kentucky and stats from late last year in October show Kentucky was second only to NY state when it comes to the US’s total Bitcoin hashrate…
Bitcoin miners are dusting off Kentucky coal towns, spurred by state crypto tax incentives
“Senate Bill 255 extends the commonwealth’s clean energy-based incentives to miners who provide a minimum capital investment of $1 million, while Kentucky House Bill 230 provides miners a number of tax breaks.
In the year since their passage, Kentucky and mining-focused businesses alike have reaped benefits from the legislation. As of October 2021, Kentucky accounted for 18.7% of the United States’ total Bitcoin hashrate, second to 19.9% in New York, according to data from Foundry Digital, a subsidiary of the crypto giant Digital Currency Group…
“It is my hope that a region known for mining coal will now benefit from this different type of mining,” Kentucky State Representative Angie Hatton said in a statement. “I also hope that its significant electricity needs will help stabilize our steep residential rates. It would mean the world if our families could save money while Blockware Solutions is literally creating it.”
