Georgia State Senators Don Parsons, Todd Jones, Kathy Dempsey, Heath Clark and Casey Carpenter introduced HB 1342 on Monday. It proposes amending the state tax code “to exempt the sale or use of electricity used for commercial mining of digital assets.”
The law would only apply to commercial miners operating at least 75,000 square feet – approximately 6,968 square feet.
Georgia is expected to have 56,000 Bitmain miners operating in October as part of an agreement with mining companies ISW Holdings and Bit5iv.
In addition, in March 2021, state municipalities passed legislation calling for the implementation of a high school education program focused on financial literacy that involves learning about cryptocurrencies.
Earlier, the states of Illinois and Kentucky introduced bills on tax incentives for miners.