I didn't realize that it didn't affect taxes, thank you for clarifying! This is my first year filing business income so this is all very new and confusing for me. I won't worry about it so much then.
Just for the sake of conversation though, I'm disinclined to consider cryptocurrency mining a type of financial activity, despite the fact that tokens are traded. From a technical standpoint, the process of mining is essentially the process of providing the foundation of whatever blockchain is being mined on. Miners are paid fees from the network as compensation for providing the computational power needed to sustain the blockchain. While the income (for tax purposes) is the dollar amount of tokenized compensation, the "work" itself is the computational power.
I digress. Thank you again for your help!
