Bitdeer to Raise $500M for Bhutan Crypto Mining Operations in Deal With Government

Bitdeer said the agreement marks "a crucial expansion into Asia" and expects fundraising efforts to commence this month.

• 2023-05-03
• Druk Holding & Investments Bitcoin mining Bitdeer Bhutan international investors commercial arm fundraising efforts special purpose acquisition company mining operations economic diversification

Crypto miner Bitdeer expands to Bhutan, partners state-owned investment arm

Singapore-headquartered cryptocurrency miner Bitdeer Technologies is planning to expand its mining operations to Bhutan and raise up to US$500 million for a fund through a new partnership with the Himalayan kingdom’s state-owned investment company Druk Holding and Investments.

• 2023-05-03
• Bhutan Bitdeer Technologies mining operations investment company

White House Pushes for Punitive Tax on Crypto Mining

U.S. President Joe Biden is looking to impose a punitive tax on crypto mining operations for the “harms they impose on society,” the White House’s Council of Economic Advisers (CEA) argued Tuesday in an online post. The administration’s blog entry made the case for a U.S. tax equal to 30% of a mining firm’s energy costs – an unusual industry-specific penalty that could threaten the profits of such businesses. “Currently, cryptomining firms do not have to pay for the full cost they impose on ot

• 2023-05-03
• Joe Biden excise tax administration U.S. Treasury Department energy costs mining operations