The House of Representatives and Senate of the state of Arkansas have approved a law that aims to control Bitcoin mining operations there. The governor’s administration will now consider the bill.
The Arkansas Data Centers Act of 2023, the proposed legislation in this case, aims to take control of the Bitcoin mining market in the American state, establishing rules for miners and shielding them from unfair rules and taxes.
Following Senator Joshua Bryant’s March 30 proposal, the law was swiftly approved by the state legislature of Arkansas. The paper acknowledges “that data centers provide general economic value to local communities, create jobs, and pay taxes.”
A digital asset miner must “pay applicable taxes and government fees in acceptable forms of currency and operate in a manner that does not place a burden on the generation or transmission network of an electric public utility,” according to the approved bill.
Cryptocurrency miners will have the same privileges as data centers under the law. The proposed legislation states that the state of Arkansas “shall not impose any requirement for a digital asset mining business that is different from any requirement for a data center.”