The Act invests a historic $370 billion toward combatting climate change over the next decade.

Tax credits are available to companies for investments in wind, solar, geothermal, nuclear, and hydrogen energy, biofuels, and technology that captures carbon from fossil fuel power plants.

Another major focus of the IRA is its initiative to move the U.S. completely off coal in the next decade. [...] This includes $10 billion in direct payments to rural electric co-ops that pay for the cost of a clean energy transition. The USDA will administer direct payments for these co-ops to retire their coal-fired power plants.

Industry observers expect the IRA to open a gaping door for a much broader scope of renewable projects that can continue the drive to a more sustainable and lower-cost reality for crypto mining.

Many investors previously uninvolved or uninterested in the sector now have a world of incentive to get involved in renewable projects throughout the country. With this Act, leaders anticipate the creation of new renewable energy sources, data center projects, and more.