Catenaa, Thursday, August 07, 2025-A little-noticed tax detail in the White House’s new 168-page crypto report could significantly impact bitcoin miners and mainstream adoption, according to mining firm BitFuFu.
The report, released by the Working Group on Digital Asset Markets, urges the Treasury and IRS to reconsider how mining income is taxed.
Currently, miners pay income tax on bitcoin’s market value when it is mined and capital gains tax upon its eventual sale, creating what industry leaders call double taxation.
The report suggests exploring a shift to taxing mining income only at the point of sale, similar to how commodities like gold are treated.
BitFuFu CEO Leo Lu said such a change would simplify compliance, improve cash flow for miners, and potentially accelerate bitcoin’s acceptance as a standard investment asset.
The broader report, which also promoted President Donald Trump’s proposed strategic bitcoin reserve and federal stablecoin rules under the GENIUS Act, has drawn praise for signaling regulatory clarity.
Lawmakers are considering several bills, including H.R. 8149, that would defer taxation of mining and staking rewards until they are sold.
BitFuFu, currently the 13th largest public bitcoin miner, sees the proposed changes as a potential turning point for US operations.
Lu said reduced tax burdens could drive broader institutional participation, consumer comfort, and an eventual perception of bitcoin as an everyday investment or payment tool.
