In Georgia, the House of Representatives is going to introduce a number of tax incentives for companies that are engaged in mining cryptocurrencies. A few days ago, the authorities began considering bill 1342. In particular, it states that companies engaged in mining cryptocurrencies can receive tax benefits when using electric energy.
The bill can provide substantial support to companies engaged in mining virtual assets. A large number of organizations that mine cryptocurrencies work in the state itself. Among such companies is Foundry, one of the largest American firms.
Previously, several dozen American states have already introduced tax incentives, since there are no serious restrictions on the production of cryptocurrencies in the United States. In addition, the country has fairly cheap electricity, and in order to further develop the infrastructure of the digital economy, the states are introducing tax incentives for companies.
If Bill 1342 is passed, then we should expect that even more firms that mine digital assets will appear in the state of Georgia. Another side effect of the introduction of tax incentives may be the development of a network of data processing centers.
