, Sweden enacted a 98% tax cut for data centers, looking to attract businesses. Four years later, the industry hasn't created the jobs the country was hoping for, and the macroeconomic environment has changed, said the budget report.
The energy crisis has increased electricity rates for households, and the tax cuts currently in place might actually be taking away energy from other, more job-creating industries in the manufacturing sector, said the budget. Miners are disappointed by how the tax hike was rolled out, with what seemed like little notice or communication. Firms like
as a “stable” jurisdiction, where they don’t worry about abrupt unilateral changes in the regulatory regime., has protested the measure’s abruptness, particularly given that the government had commissioned a report on the energy impact of data centers that wasn’t finished at the time of the tax hike decision, according to the budget.
Enerhash will keep its operations in Sweden because they are still profitable, particularly given its geographic diversification, but they will not be investing additionally. Why would you invest there when the legal framework can change so abruptly, Jogg asked.
egreechee People will just move their hardware to another country and sweden will loose more in taxes
egreechee Yes. Exploitation and speculation should be marginalized.
egreechee Sweden has been a sinking ship for the last 2 decades. Now they have sealed their fate.
egreechee And bitcoin continues to trend towards centralization as its network gets attacked by the governments. So vulnerable security model.
egreechee Good
egreechee I hope so.
egreechee Oh god please! Yes! I pray for this extinction event
egreechee We all hope so? p.s. also not a 'hike'
egreechee All the chickens come home to roost😬 Luckily Nano $xno fixes this instantly💪
egreechee Nano $XNO time is coming. It will take all by surprise.
egreechee Sweden: A reversal of a tax cut as it didn't create the jobs the tax cut was intended to stimulate. Bros: its an attack on bitcoin mining. Sweden: households are paying more. Electricity incentives could be used for more job creating industries. Bros: its an attack.
egreechee There’s several greener solutions for decentralized peer 2 peer electronic cash systems, the PoW mining industry always has been speculative, now they cry out when countries aren’t interested in wasting power for the sake of unscalable security that’s already centralizing lmfao🤣
egreechee Everyone must contribute, scammers also.
egreechee And they claim to be a free market economy
egreechee Bad news mtgawd and AlbertSTartagl1 I wouldn't be surprised if what happens in Sweden leaks into the EU.
egreechee EU is turning into an economic kamikaze.
egreechee Seems super logical 🙄
egreechee how does this do anyone any good? This is just a way to kill the mining industry and is a terrible policy example for the future of crypto.
egreechee 6000%
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Source: MarketWatch - 🏆 3. / 97 Read more »