White House Challenges New York Times on Policy Coverage: Implications for Cryptocurrency Markets
SOURCE: BLOCKCHAIN.NEWS
APR 18, 2025
The 15 est U.S. States to Mine Cryptocurrency
SOURCE: MSN.COM
SEP 08, 2021
Cryptocurrency (or “crypto”) refers to digital currencies that can be used to buy regular goods and services. But instead of relying on paper money or banks to complete transactions, cryptocurrencies make use of a decentralized online ledger to verify transactions.
Cryptocurrencies can be bought through exchanges using traditional currencies. But many can also be earned through a process called “mining,” which requires specialized software to solve complex mathematical problems.
Successful crypto mining depends on good computing power and is extremely energy-intensive. For example, a single bitcoin transaction is estimated to use nearly 2,000 kWh of electricity — enough to power the average U.S. household for over two months.
The crypto market has boomed during the COVID-19 pandemic. For example, bitcoin could be purchased for less than $6,000 in the early days of the pandemic and rose to over $63,000 in April of 2021, a nearly 10-fold increase in price.
As interest in trading cryptocurrency increases, so does interest in mining. While bitcoin mining has become extremely difficult, mining other crypto coins is much easier. Because crypto mining is so energy-intensive, living in an area with low electricity rates makes mining more profitable.
Residents of states with no state income taxes or low state income tax burdens will pay less in taxes on gains realized on the sale or exchange of currencies, which are treated as capital assets.
To find the best states to mine cryptocurrency, researchers at Commodity.com analyzed data from the U.S. Census Bureau, the U.S. Energy Information Administration, the Bureau of Economic Analysis, and HighSpeedInternet.com, creating a composite score based on the following factors:
Here are the best states for mining cryptocurrency.
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Composite score: 59.75
State income tax burden: 0.0%
Electricity rates (cents per kWh): 11.2
Cost of living (compared with average): -7.2%
Percentage of households with broadband internet: 66.7%
Average internet speed (Mbps): 60.0
Composite score: 61.25
State income tax burden: 2.2%
Electricity rates (cents per kWh): 10.6
Cost of living (compared with average): -3.5%
Percentage of households with broadband internet: 75.6%
Average internet speed (Mbps): 93.0
Composite score: 62.75
State income tax burden: 0.0%
Electricity rates (cents per kWh): 12.0
Cost of living (compared with average): -3.5%
Percentage of households with broadband internet: 67.6%
Average internet speed (Mbps): 110.7
Composite score: 63.25
State income tax burden: 2.0%
Electricity rates (cents per kWh): 10.4
Cost of living (compared with average): -15.3%
Percentage of households with broadband internet: 55.6%
Average internet speed (Mbps): 64.9
Composite score: 63.50
State income tax burden: 1.9%
Electricity rates (cents per kWh): 10.9
Cost of living (compared with average): -11.3%
Percentage of households with broadband internet: 64.6%
Average internet speed (Mbps): 86.9
Composite score: 64.00
State income tax burden: 0.0%
Electricity rates (cents per kWh): 11.6
Cost of living (compared with average): +1.0%
Percentage of households with broadband internet: 72.7%
Average internet speed (Mbps): 102.0
Composite score: 64.00
State income tax burden: 1.3%
Electricity rates (cents per kWh): 12.1
Cost of living (compared with average): -11.6%
Percentage of households with broadband internet: 70.6%
Average internet speed (Mbps): 77.2
Composite score: 64.75
State income tax burden: 1.5%
Electricity rates (cents per kWh): 11.3
Cost of living (compared with average): -15.6%
Percentage of households with broadband internet: 49.6%
Average internet speed (Mbps): 74.3
Composite score: 67.00
State income tax burden: 0.0%
Electricity rates (cents per kWh): 11.8
Cost of living (compared with average): -12.2%
Percentage of households with broadband internet: 70.3%
Average internet speed (Mbps): 70.8
Composite score: 67.25
State income tax burden: 0.0%
Electricity rates (cents per kWh): 11.4
Cost of living (compared with average): -2.6%
Percentage of households with broadband internet: 72.2%
Average internet speed (Mbps): 104.1
Composite score: 70.00
State income tax burden: 1.7%
Electricity rates (cents per kWh): 9.5
Cost of living (compared with average): -12.1%
Percentage of households with broadband internet: 60.6%
Average internet speed (Mbps): 84.1
Composite score: 70.50
State income tax burden: 0.0%
Electricity rates (cents per kWh): 9.7
Cost of living (compared with average): +8.4%
Percentage of households with broadband internet: 78.0%
Average internet speed (Mbps): 103.9
Composite score: 70.75
State income tax burden: 1.7%
Electricity rates (cents per kWh): 10.0
Cost of living (compared with average): -12.8%
Percentage of households with broadband internet: 59.4%
Average internet speed (Mbps): 87.9
Composite score: 70.75
State income tax burden: 0.0%
Electricity rates (cents per kWh): 10.8
Cost of living (compared with average): -10.3%
Percentage of households with broadband internet: 65.3%
Average internet speed (Mbps): 94.3
Composite score: 72.00
State income tax burden: 0.8%
Electricity rates (cents per kWh): 10.5
Cost of living (compared with average): -10.7%
Percentage of households with broadband internet: 71.6%
Average internet speed (Mbps): 74.5
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