Quote from: minemyhive on March 13, 2023, 07:03:06 AM

Simply put: wouldn't mining just move to non US domicile facilities? That is the most straightforward. And have a mix of JV entities in the end

In theory yes, but there is no other place on the planet that can facilitate the amount of hashrate the U.S has, the U.S is where the money resides, U.S large miners who now make up nearly 50% of the total hashrate wouldn't be able to collect half the money elsewhere, investors in the U.S have a ton of money to risk which is why large U.S mining companies grow at a very unrealistic rate despite having made worse decisions than any rookie miner (like buying those tens of thousands S19s for $15,000 right at the peak of the cycle)

So not all of the hashrate will be able to move elsewhere if shit hits the fan, moreover, I think the proposed tax is just on the power bill, not the total income, so the companies that pay 5 cents per kWh will have to pay 6.5 cents, is it going to hurt? of course? is it going to be the end of the world for them? no.