• December 5, 2023


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Introduction of Tax Incentives for Miners is Proposed in Illinois

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A bill has been introduced in the Illinois State Senate to expand the data center tax credit program to businesses that mine Bitcoin and other cryptocurrencies.

The document was registered by Republican Senator Sue Rezin, while Democrat Julie Morrison also joined as co-sponsor.

The program mentioned in the bill has been operating since 2019. According to a 2020 State Department of Commerce, six data center operators received more than $160 million in tax credits. In total, they created 120 jobs and invested $1.6 billion.

To qualify for the program, applicants must guarantee an investment of at least $250 million and the creation of 20 jobs. Also, they must obtain the status of a carbon-neutral enterprise.

Subject to the requirements, benefits can be provided to both new data centers and those already operating in the state.