Thanks for the reply. I understand that the Bitcoin I mine is income. I'm keeping a daily spreadsheet on the USD value of the Bitcoin mined and the fees associated with it as well as the reinvestment price. I'm not necessarily doing it as a business, but as passive side income. I do have an LLC, however, for other types of work.
I suppose the question was, to be clear, whether the Bitcoin I purchased originally to pay for the mining contract would be considered a taxable event. I've heard from another CPA that it would be considered a reinvestment since I didn't cash out and still using the Bitcoin to further invest.
