Arkansas Passes Legislation to Protect Bitcoin Miners.
The Arkansas House of Representatives and Senate have passed legislation to regulate bitcoin mining. The governor’s office has now approved the “right to mine” bill, which is now effectively law.
According to the bill, the Arkansas Data Centers Act of 2023 seeks to regulate the bitcoin mining industry in Arkansas by establishing guidelines for miners and protecting them from discriminatory regulations and taxes.
On March 30, Senator Joshua Bryant introduced the bill, and lawmakers in Arkansas quickly approved it. The document recognizes the positive economic impact of bitcoin mining industries in local communities, stating that they create jobs, contribute to tax revenue, and provide overall economic value.
The approved bill requires bitcoin mining companies to pay applicable taxes and government fees while operating in a way that does not place a strain on public electric utilities’ generation capabilities or the transmission network.
The bill grants bitcoin miners the same rights as data centers, stating that the Arkansas government should not impose any distinct requirements for a bitcoin mining business that are not applicable to data centers.
Arkansas has taken action to recognize the bitcoin mining industry, mirroring a similar effort in Montana. In late March, the Montana Senate passed legislation to protect bitcoin miners operating in the state. The bill’s goal is to shield miners from taxes levied on digital money used for payments and to eliminate energy rates that favor home-based bitcoin miners.