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Iceland proposed to introduce a tax on mining companies

Member of the Icelandic Parliament proposed to introduce a new tax for mining companies. In conversation with the Associated Press, Smara McCarthy (Smari McCarthy) from the Pirate party of Iceland proposed this idea in the debate on the global position of the country as a centre of mining bitcoin.

Thanks to the country’s access to abundant sources of geothermal energy and Arctic air, which is a key factor to cool the mining equipment without additional cost for electricity, Iceland is not the first year remains an attractive region for miners of bitcoin.

«In normal conditions, companies that earn money in Iceland, you pay a certain amount of taxes to the government,» said McCarthy. «Mining companies do not, and we must ask ourselves – isn’t it time for them?».

Party pirates is currently ranked 6 out of 63 seats in Althingi, the Icelandic Parliament, and by itself, the party is unlikely to promote the adoption of a new tax because of the small number of available votes. However, representatives of other parties also may be interested in this topic, if the demand for cheap electricity the country will grow.

The representative of the energy industry told the AP: «today I came home from a meeting with the mining company seeking to purchase 18 megawatts».

McCarthy, in turn, noted:

«We spend tens or maybe hundreds of megawatts of production that cannot be touched and which is not used by people outside the sphere of financial speculation. This is hardly a positive trend.»

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