If you started mining Bitcoin 1 year ago, how much BTC did you stack and how much did you save on taxes?
What happens in year 2?
- sell machines, then it’s considered sales on taxes
- or keep machines and mine, likely mine at a loss, no more depreciation to offset it
The machines are not operating at a loss. Right now S21 XPs produce BTC at a price of ~$50k to $55k per coin.
What happens in year 2?
- sell machines, then it’s considered sales on taxes
- or keep machines and mine, likely mine at a loss, no more depreciation to offset it
The machines are not operating at a loss. Right now S21 XPs produce BTC at a price of ~$50k to $55k per coin.