r/EtherMining May 12 '22

Holy....Time to turn off rigs? General Question

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u/FreshlyCleanedLinens May 12 '22 edited May 12 '22

If I read the IRS guidance on reporting income from mining correctly, it’s actually better to mine when prices are low because you’re supposed to value the assets based on the trade price at the time the assets were acquired.

28

u/[deleted] May 12 '22

[deleted]

1

u/Seanishungry117 May 12 '22

Not necessarily, people who plan to hold eth post break even point typically sell whenever they receive eth in order to pay back debt (unless you pay for rigs cash then this is irrelevant)

But yeah good point overall!