Draft Law to Encourage Bitcoin Mining from the USA!

The US state of Oklahoma wants to increase the number of cryptocurrency mining companies in the state by issuing some incentives for cryptocurrency mining.

Shortly after Oklahoma Governor Kevin Stitt announced that Northern Data, one of the world's largest cryptocurrency mining companies, would set up a headquarters in the state, Senator John Montgomery introduced a bill called the Commercial Digital Asset Mining Act of 2022.

This bill aims to attract more cryptocurrency mining companies to Oklahoma. If the bill becomes legal, incentives not exceeding $5 million will be created for companies.

The bill, which was put to a vote in the Senate on Tuesday, was passed with the support of both parties by 29 votes to 16. The bill, which was later moved to the lower house, was referred to the technology committee to be held on March 30.

Share of US Bitcoin Mining Grows

The share of the USA in global Bitcoin mining is increasing day by day. While the US-based Bitcoin mining pool Foundry USA has a share of close to 20 percent among all pools, the share of the USA in mining is close to 40 percent.

An important milestone has been left behind in Bitcoin mining recently. The 19 millionth BTC was mined on Friday, with only 2 million BTC left to be mined in nearly 120 years.

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