The Arkansas Data Centers Act, which aims to regulate Bitcoin mining in the state and provide equal rights and protection for miners, has been approved by both the Arkansas House of Representatives and Senate. The bill now awaits approval from the governor’s office. The legislation requires digital asset miners to pay applicable taxes in acceptable forms of currency and operate in a manner that does not cause stress on the electric public utility’s generation capabilities or transmission network. The bill also provides equal rights to crypto miners and data centers, with the government unable to impose different requirements for digital asset mining businesses compared to data centers.
The move follows similar initiatives in Montana and is in contrast to a move in Texas that would remove incentives for miners operating under the state’s crypto-friendly regulatory environment. On a federal level, President Joe Biden’s budget proposal aims to reduce mining activity through a potential 30% tax on electricity costs for crypto miners.
