The Unique Property Insurance Considerations For Bitcoin Mining Operations
The growth of the Bitcoin mining industry brings unique considerations for growing operations, particularly for adequate insurance coverage.It is crucial for Bitcoin mining operations to have adequate insurance coverage and understand their rights to recovery should their operations suffer losses. As far as traditional property-related risks, they are similar to those of any brick-and-mortar technology company, but also have additional, unique considerations. Who Are The Miners And Who Owns The Mines? Structure Of The OperationsProperly distinguishing between who owns the mine and who owns....
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The Spanish tax authorities have classified cryptocurrency mining operations as taxable economic activities. Regulations concerning cryptocurrencies minting are gradually falling in place. While a lot of countries are yet to implement them, the Spanish tax authorities have labeled Bitcoin and altcoin mining operations as economic activities. This new classification makes cryptocurrency mining taxable. The latest notice, penned by the National Directorate of Taxes of Spain, requires Bitcoin and altcoin mining companies – as well as individuals – to register themselves. The move, however....
A Canaan executive detailed the success of its pilot mining operations in Kazakhstan and shared plans to expand its operations to the U.S. in an interview.