By prohibiting discriminatory energy rates for mining companies, the Mississippi bill on digital asset mining makes this practice unlawful.
A legislative proposal to legalize Bitcoin mining in the state and safeguard miners from discrimination has been approved by senators from Mississippi.
Senator Josh Harkins presented the Mississippi digital asset mining bill to the house. The legislator outlined how the mining industry has the potential to stabilize the electrical grid and generate income for state infrastructure projects.
After careful consideration, the Mississippi Senate on January 9 approved the legislation needed to make cryptocurrency mining legal in the state.
“It shall be legal in the State of Mississippi to run a node for the purpose of home digital asset mining” and “operate a digital asset mining business.”
The bill states that there can be no discrimination when it comes to miners setting up their rigs in industrial zones.
The bill outlaws charging mining companies different energy prices. Miners will also be shielded from classification as money transmitters.
Following additional approval from the House members and the state Governor, the Mississippi digital asset mining bill is anticipated to go into effect on July 1, 2023.
Crypto Mining in the U.S.
The prohibition on mining operations in China hastened the concentration of Bitcoin miners in the United States.
Two American mining pools were found, according to a report by CryptoSlate. (Over 51% of the world’s hash rate is under the control of (Foundry and Antpool).
With an estimated 30 mining companies operating there, Texas has continued to be a popular choice for miners over the years.
But some American legislators are pushing for mining companies to tell regulatory bodies how much power they use.
Elizabeth Warren, a crypto-hating lawmaker, had opened an investigation into the Electricity Reliability Council of Texas (ERCOT) for allegedly paying miners to reduce energy demand.
