A UN task force proposes taxing crypto mining to raise funds for climate action and cites IMF research that says $0.045 per kWh used could raise $5.2B annually (Justine Calma/The Verge)

A UN task force proposes taxing crypto mining to raise funds for climate action, citing IMF research that suggests a tax of $0.045 per kWh could generate $5.2B annually. The proposal emerged during a UN climate conference nearing its conclusion, aiming to address the environmental impact of cryptocurrency mining through financial contributions. The potential tax on crypto mining seeks to support climate initiatives and combat the energy-intensive nature of the industry.

Full Article