Politique ou Programme, Proposition législative, Projet de loi ou résolution, Règlement

• Speaking with elected officials and government bureaucrats about bitcoin mining as it relates to taxation. Specifically, the Government of Canada proposed amendments to the Excise Tax Act, in February 2022, which will increase the cost of conducting digital asset mining operation in Canada (i.e. computer and IT technology, energy costs, professional and consulting fees) by five to fifteen percent (5% - 15%) significantly impacting our operations. Our primary focus, working with a coalition, has been to educate public officials and encourage consultation on a new and rapidly evolving industry so that they can effectively take cryptocurrency mining into consideration when prescribing tax policies.

Politique ou Programme, Règlement

• Speaking with elected officials and government bureaucrats about bitcoin mining as it relates to energy use. At this time, Hut 8 does not have specific policy aims related to energy use; rather, our primary focus has been to educate public officials and encourage further consultation on a new and rapidly evolving industry so that they can effectively take blockchain technologies into consideration when prescribing policies and maximize economic benefit to Canada.

Proposition législative, Projet de loi ou résolution, Règlement

• We are seeking to clarify that changes to the Excise Tax Act in Bill C-47 (2023) about Bitcoin and cryptocurrency mining do not apply to miners that sell their hashrate to mining pools that are located outside of Canada, and that we will be able to claim Input Tax Credits as a result. Our work has been focused on educating officials and bureaucrats on the nature of our work and the impact the industry has on the global cryptocurrency and digital asset mining climate.