Recent public reports show that Kentucky lawmakers appear to have passed two proposed laws to encourage cryptocurrency mining in the US state.

There are two bills that pass through the state legislature, called the General Assembly. One topic that focuses on tax incentives and as noted by local media, is part of an effort to lure tech businesses into Kentucky. If approved, this would extend the state’s clean energy incentives to crypto miners, provided they meet a specific minimum investment threshold of $ 1 million.

Voting records show that the Kentucky House of Representatives passed the energy bill Friday in a 74-19 vote after passing the Senate on March 3. It is unclear at the moment how different the bills of the two houses are and whether they need to be reconciled before the final step can be passed.

The legislature’s tax bill passed to the House of Representatives on March 3, with 84 members voting for approval and 16 members not voting. According to the General Assembly website, the tax bill was “posted for adoption in the Regular Day Ordinance for Monday, March 15, 2021” in the House of Representatives on Friday. A proposed amendment would end tax exemptions for miners by mid-2030.

The development comes as the US Bitcoin mining ecosystem continues to grow, attracting considerable interest from institutional investors. Despite the high demand for hardware, such investors are betting that the United States will compete with China as a hub for cryptocurrency mining operations.

A mining group run by Digital Currency Group’s Foundry subsidiary opened its doors to the public on Thursday.