US House passes bill making data centers face more of their grid costs

Crypto Insight Summary: The H.R. 9340, which was dubbed the Ratepayer Protection Act, has been passed by the US House of Representatives with a vote of 417-3 on Wednesday. This is the first bill passed by the House that deals with the economic implications of the expansion of data centers. It requires state utility regulators to consider whether... Crypto Insight Analysis: Direction: Bearish BTC / Bearish ETH Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: Increased data center costs may reduce crypto mining profitability.