Coinspeaker
IMF Attacks Crypto Mining Industry Proposing 85% Electricity Price Surge
While Bitcoin mining industry made huge progress over the past years, the International Monetary Fund (IMF) continues to seek ways to put additional pressure on the mining industry. Two executives from the IMF recently stated that it would be good if the average cost of electricity used for crypto mining purposes is raised by 85%. The executives added that this measure would put a huge dent in carbon emissions.
The IMF Fiscal Affairs Department’s deputy division chief Shafik Hebous, and climate policy division economist Nate Vernon-Lin, proposed implementing a tax of $0.047 per kilowatt hour. On Thursday, August 15, the two IMF executives said that they “would drive the crypto mining industry to curb its emissions in line with global goals”. The pair stated that factoring in the local health impacts of mining would increase the tax to $0.089 per kilowatt hour.
Vernon-Lin and Hebous a
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