The New York State Legislature has introduced Bill A9138, which proposes a tiered sales tax on proof-of-work mining

ChainCatcher news, the New York State Assembly introduced Bill A9138 on Friday, which is the companion legislation to Senate Bill S8518, aimed at imposing a tiered consumption tax based on electricity consumption on proof-of-work cryptocurrency mining operations.

According to the bill, mining operations with an annual electricity consumption exceeding 2.25 million kilowatt-hours will face taxation, with rates ranging from 2 cents to 5 cents per kilowatt-hour. The revenue from this tax will be used to fund energy affordability programs in New York State, providing support for low- and moderate-income households. Mining facilities that operate completely on renewable energy and are off-grid will be exempt from this tax. If the bill is passed, it will take effect on January 1, 2027.