• Montana’s state senate passed a bill on Feb. 23 to protect individuals‘ and businesses‘ right to engage in cryptocurrency mining.
• The bill aims to prevent the government from imposing higher electricity rates on crypto miners and additional taxes on cryptocurrencies.
• Firms including Madison River Equity, Marathon Digital, Atlas Power, Bitzero, and Project Spokane have operated or attempted to operate in the state.
Montana Passes Right to Mine Crypto Bill
Montana’s state senate passed a bill on Feb. 23 that seeks to protect individuals‘ and businesses‘ right to engage in cryptocurrency mining. The bill is designed to prevent the government from imposing higher electricity rates on crypto miners or additional taxes on cryptocurrencies. It also ensures that mining firms can operate in industrial zones and individual miners can operate in residential areas (with an exception for noise complaints).
Bill Passes With Overwhelming Support
The bill passed with 37 votes in favor and 13 votes opposed, receiving backing from Dennis Porter, CEO and co-founder of the Satoshi Action Fund. It must now pass through the house before being signed by the governor into law.
Opposing Regulations Already Passed In Missoula County
The pro-crypto bill may counteract an earlier Missoula County law that has introduced new environmental zoning regulations for cryptocurrency mining operations.
Montana A Popular Destination For Mining
Montana appears to be a popular destination for industrial crypto miners as firms such as Madison River Equity, Marathon Digital, Atlas Power, Bitzero, and Project Spokane have either operated or attempted to operate within its borders. Other states have tried both restricting or liberalizing their own laws regarding cryptocurrency mining – New York passed a restrictive bill while Mississippi approved legislation preventing discriminatory laws against crypto miners earlier this year.
If signed into law by the Governor of Montana, this „right-to-mine“ crypto bill will help protect individuals‘ and businesses‘ rights to mine cryptocurrencies without facing higher electricity prices or extra taxes from local governments. This could make Montana an even more attractive location for large scale industrial crypto miners who are looking for secure places with fair regulations for their operations.