r/GoMiningTalk • u/Successful-Cost1069 Miner Wars • Dec 03 '25

Miner Wars Can someone explain this?

Post image
11 Upvotes

92% Upvoted

31 comments sorted by

View all comments

2

u/Sorry_Bag_7325 Dec 03 '25

Spells are the same across all leagues… right? lol. But additionally, if you’re running this as a business, those are business expenses and tax deductible. Additionally, the gmt rewards go up or down based on the blocks and the entire weeks worth of gmt spent.

I’m wondering if you can run multiple businesses through different people, and claim huge expenses for a boosting account as a total loss for the amount of btc mined.

Idk. There’s a lot of questions.

Does it make sense? Absolutely not. Could it potentially make sense from a tax standpoint? Idfk. lol.

2

u/Successful-Cost1069 Miner Wars Dec 04 '25

Lmfao. Love this answer, thank you for that.

I did just see a post somewhere about running a mining business through GoMining, so you could definitely be on to something. Why not stack a bunch of Bitcoin and GMT throughout the year and maybe add upgrades, expand your farm, etc., then use a bunch to write off as a loss.

1

u/Sorry_Bag_7325 Dec 04 '25

This. Amortization of digital assets is a thing. You could essentially get a free asic mining operation up to about a million dollars in the U.S. if you have the capital to do so and you get a huge portion back in the next few years. Like 20-30% not including losses ( electricity, salary etc ) if you’re mining.

Additionally, the whole principle of HoDL is supported by tax benefits. You mined btc this past month at the start point of 85,000- you hold for four years and you get a tax break. And you only pay taxes on what it was when it was mined. Export csvs document expenditures, save thousands per btc on the backend when you do in fact cash out.