The crypto mining industry is facing criticism for being targeted by the US government once again. A recent report disclosed that the government intends to bring back a tax proposal that could have a major impact on the entire sector. Industry leaders and crypto-supportive US Senator Cinthia Lummis have raised concerns about the proposal’s reintroduction. In other news, Bitcoin miners are experiencing their second-highest daily revenue ever. The crypto industry is on high alert due to a proposed 30% tax increase. The revenue proposals for 2025 were recently revealed by the US Department of the Treasury. The proposal caught attention when Pierre Rochard, Vice President of Research at Riot Platforms, pointed out that the White House budget showed confidence in Bitcoin (BTC). Rochard’s social media post suggested that Biden’s administration anticipated BTC reaching $723,000 by 2035. According to Bitcoinist, Rochard’s statement led to a debate about whether the US government had a concrete forecast for Bitcoin. The budget proposal for 2025 by Biden includes projections of revenue from digital assets, with a goal of generating more than $10 billion through regulatory and taxation strategies outlined in the proposal. Crucially, the document also proposes reinstating a tax regulation on cryptocurrency mining operations that had previously been exempted. One year ago, as a component of the 2024 Budget, the US Treasury announced its intention to levy a 30% tax on all cryptocurrency mining activities. The tax would be phased in gradually over three years, increasing by 10% annually. In the initial year, a tax of 10% would be imposed, which would then increase to 20% in the second year and 30% in the third year and beyond. Senator Cynthia Lummis of the United States observed that the document indicated a positive outlook from the government on cryptocurrency assets.