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The White House has put forward a proposition to impose a punitive tax on cryptocurrency mining operations due to perceived societal impacts. Fred Thiel, CEO of Marathon Digital Holdings Marathon Digital CEO Fred Thiel warns of the potentially harmful consequences of the Biden administration’s proposed tax on US bitcoin miners. According to Marathon Digital CEO Fred Thiel warned that Joe Biden’s proposed crypto tax will drive Bitcoin miners out of the country. In an interview with The Block, Thiel said the Об этом во время интервью на конференции Bitcoin 2025 заявил генеральный директор майнинговой фирмы Marathon Digital Фред Тиль. Рассказываем о точке зрения эксперта The administration of U.S. President Joe Biden recently announced a proposal to tax American bitcoin miners. But that policy approach, if implemented, will drive However, according to Marathon Digital’s CEO Fred Thiel, Biden’s tax plan won’t work. In an interview during the Bitcoin Miami Conference, the Marathon executive The administration of U.S. President Joe Biden recently announced a proposal to tax American bitcoin miners. But that policy approach, if implemented, will drive mining firms outside of the

Biden's 30% Bitcoin Mining Tax: Marathon CEO Fred Thiel Says It Won't Work

The White House has put forward a proposition to impose a punitive tax on cryptocurrency mining operations due to perceived societal impacts. But according to Marathon Digital’s CEO Fred Thiel, Biden’s tax plan won’t work. Marathon Digital CEO Fred Thiel warns of the potentially harmful consequences of the Biden administration’s proposed tax on US bitcoin miners. In an interview during the Bitcoin Miami Conference, the Marathon executive, and again later during the Bitcoin 2025 conference according to Об этом во время интервью на конференции Bitcoin 2025 заявил генеральный директор майнинговой фирмы Marathon Digital Фред Тиль, argued that the administration of U.S. President Joe Biden's recently announced proposal to tax American bitcoin miners won't be effective. According to Marathon Digital CEO Fred Thiel, Joe Biden’s proposed crypto tax will drive Bitcoin miners out of the country. In an interview with The Block, Thiel said that if implemented, this policy approach will drive mining firms outside of the US. Fred Thiel, CEO of Marathon Digital Holdings, emphasizes that the 30% tax is not just impractical, but also counterproductive. The administration of U.S. President Joe Biden recently announced a proposal to tax American bitcoin miners. But that policy approach, if implemented, will drive mining firms outside of the country. Thiel believes these miners will relocate to more favorable jurisdictions, ultimately harming the US's competitiveness in the digital asset space. Thiel’s core argument is that the tax, as it stands, is fundamentally flawed and will not achieve its intended goals. He maintains that instead of generating revenue, it will simply push innovation and investment overseas. He believes that a more nuanced and collaborative approach is needed to regulate the Bitcoin mining industry effectively and ensure its responsible growth within the United States. He says Biden's 30% Bitcoin mining tax won't work.

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