Donald Trump · Bitcoin · U.S. · US Congress · CLARITY Act · CryptoSlate
Trump’s Bitcoin made in America push runs into a power problem the tax bill cannot fix
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Congress is moving to fix how the US tax code treats crypto mining and staking rewards, and for validators and their institutional clients, the fix is long overdue.
Key facts
- Hashprice dropped to a record low of $27.89 per PH/s per day in the second quarter as Bitcoin fell roughly 50% from its October 2025 peak near $124,000, and CoinShares estimates that older-generation
- In Sweden, HIVE signed a non-binding LOI for a potential up to 10-year lease of its Boden facility, covering 25 MW of critical IT load, with planned retrofitting for 10,000 NVIDIA GB300 GPUs, built
- In 2026-46, the court held that rewards constitute gross income under Section 61 when the taxpayer gains dominion and control over them
- Under IRS Revenue Ruling 2023-14, validators and their clients owe ordinary income tax on staking rewards the moment they are received, at that day's price, whether or not they have sold a single
Summary
01 Congress is considering H.R. 9175, which would let miners and stakers defer tax on newly minted tokens until sale. 02 The change would ease cash-flow pressure for U.S.-based validators and institutional clients, reducing incentives to structure offshore. 03 Bitcoin miners say the bill does not fix power, land, permits, or grid access, so the next buildout decision stays infrastructure-driven. H.R. 9175, the Tax Clarity for Mining and Staking Act, would let miners and stakers defer tax on newly minted tokens until they sell them, ending a cash-flow penalty that has pushed validation infrastructure and its largest clients toward offshore jurisdictions with clearer rules.