A bill intended to manage the impact of cryptocurrency mining operations on Nebraska’s electrical grid advanced to the second round of debate on Thursday, April 3, after lawmakers amended it to remove a proposed excise tax.
Because of the electricity demand of cryto-mining, Sen. Mike Jacobson sponsored LB 526 at the request of Gov. Jim Pillen. The bill would have imposed an excise tax of 2.5 cents per kilowatt-hour on the energy used by facilities to conduct cryptocurrency mining operations in excess of 1,000 kilowatt-hours per year.
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