He is not looking to kill it, he is trying to impose the DAME tax, DAME means Digital Asset Mining Energy, and the idea is to start with this tax from 10%, then 20% in the next year and 30% on the 3rd year.
So, the plan isn't to ban the mining, but with those huge taxes, no one will want to mine there. Is not a good business. But i don't think congress will let that tax come to live, and if it does, they will stop it before the 3rd year, because other way people will start creating illegal farms.
Your idea is definitely correct! Biden can make a decision on his own, but it has to go through many steps in the form of a bill, in which case congress won't approve it. Maybe allow more taxation according to you 20% or 30% etc. But if so then the black market mining will increase which may deprive the US administration of huge amount of tax collection.
Despite all these rumours, the impact on Bitcoin's price is minimal and its price will cross the mandatory target of $100k very soon.
Bitcoin price is at the highest level in the last 200 days.Correct me if I'm wrong.