The CEO of Bitcoin miner Marathon Digital spoke about the tax that US president Joe Biden wants to collect from miners.
Mararhon Digital CEO thinks this tax plan won’t work. “Taxation will push miners out of the US,” the CEO commented on the subject.
The Tax Biden Wants From Miners Could Backfire
Marathon Digital CEO Fred Thiel argued that a proposed tax on US Bitcoin miners would move the industry to the high seas. Thiel said in an interview that the company is already pursuing opportunities for non-US expansion.
The US President Joe Biden administration recently announced a proposal to impose a tax on American Bitcoin miners.
However, according to the CEO of Marathon Digital, this policy approach, if implemented, will drive mining firms out of the country and not raise the funds intended.
CEO Fred Thiel used the following statements in an interview on the sidelines of the Bitcoin 2023 conference in Miami:
“Bitcoin miners will just leave the US, that’s really what they’re trying to do.”
Thiel continued by arguing that the mining tax would not generate more renewable energy, which would lead to the taxation’s target not being met.
