Oklahoma Governor Signs Bill Exempting Bitcoin Mining from Sales Tax

  • Sergey Maga
  • 17 June, 2024 00:00
Oklahoma Governor Signs Bill Exempting Bitcoin Mining from Sales Tax

Oklahoma Governor Kevin Stitt has signed a groundbreaking bill exempting Bitcoin miners from electricity sales tax. This move positions Oklahoma as a leader in the U.S. Bitcoin mining sector. The bill, HB1600, grants Oklahoma the nation’s most affordable power rates for Bitcoin mining, aiming to attract major mining companies to the state, according to Thenewscrypto.

The Oklahoma Bitcoin Association praised the bill, emphasizing its potential to revolutionize power purchasing and optimize the power grid. In May 2024, Oklahoma also passed HB 3594, protecting cryptocurrency rights and preventing additional taxes on crypto transactions.

The U.S. aims to become the leading Bitcoin mining nation, with former President Donald Trump promising to advocate for the industry if elected. The Oklahoma bill exemplifies the nation’s efforts to support Bitcoin mining amid increasing regulatory scrutiny. 

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