Trump Tax Cut Encourages Crypto Mining

fermion writes: The mystery of how cryptocurrency miners are paying for their energy intensives mining operation in rural areas has been solved. Instead of paying up to 40% in taxes, the miners build mining operations in "opportunity zones". There are few requirements to show these produce jobs or any income. From the article

The law allowed companies and investors to delay and reduce their capital gains taxes after they sell a financial asset like stock, so long as they invest the money in a new project located in one of thousands of struggling American neighborhoods designated as opportunity zones. If the investment lasts for more than 10 years, the profits from the new business are completely tax-free. Investors face few requirements to prove that their projects will create jobs or housing for a community’s existing residents, and scores of them have taken advantage of opportunity zones to erect high-end hotels and luxury real estate in gentrifying neighborhoods.