- Sep 25, 2001
why even bother telling the govt about your bitcoin stuff?Honestly I was actually making money GPU mining, I just stopped because of the tax implications, it's just too complicated to try to figure out how to claim taxes as there's not much details on how to do that and even my tax accountant did not know anything about crypto. It was putting a pretty big dent on my hydro usage too so that was another factor that made me stop. I was probably close to breaking even really once I factored in hydro.
If I went large scale and bought land to put a solar/wind farm to power it then I'd just hire a full time CPA to figure out the taxes for me. Now would be way too late to do any of that though.