Montana Senate passes bill to protect bitcoin and crypto miners
Montana Senate passes historic bill to help struggling crypto miners from mining discrimination.
In the latest development, the state of Montana officially passed a bill to protect mining rights. In a landslide vote of 37-13, the bill shields home mining, preventing “discriminatory pricing for digital asset mining,” the bill says. Dennis Porter and the Satoshi Action Fund spearheaded the legislation called ‘Right to Mine’.
While this was a huge move for the Miners, Porter is focused on the next steps. There is approval from the state house and the governor’s signature.
The official statement read:
Regions recognize mining operations and operators
Montana has been a popular location for crypto mining due to low electricity prices and favorable climate conditions for cooling mining equipment. In addition, the state authorities have been relatively open to the development of the crypto industry, with several blockchain-based start-ups and projects being established in the area.
Such a development could really help miners struggling to make ends meet. Especially in the midst of a crypto winter and increased equipment costs due to increased inflation. Regions across the Americas have provided support for miners and mine setups. For example, around February 9, the Mississippi Senate gave a green signal to a similar bill that favored the miners across the geographic region.
Major development that favors miners
Cryptocurrency miners have been the target of a number of censors around the world. The process of validating transactions on a blockchain network and earning new coins as rewards requires powerful computers and consumes a lot of energy, which can be expensive. Some states and countries passed regulations that make it difficult or unprofitable for cryptocurrency miners to operate.
Nonetheless, the incoming developments discussed above mean that the state is creating a regulatory environment that is friendly to cryptocurrency mining. This involves providing tax incentives or other forms of support to encourage miners to operate in the state. The bill also protects miners from overly burdensome regulations that could make mining unprofitable or impossible.
Disclaimer
BeInCrypto has reached out to the company or person involved in the story for an official statement on the latest development, but has yet to hear back.
