Compass Mining To Offer U.S. Clients Tax-Efficient Bitcoin Mining
U.S. Clients of Compass mining can now mine bitcoin directly into a Choice Individual Retirement Account without triggering a taxable event.U.S. clients of Compass mining can now mine bitcoin directly into a Choice Individual Retirement Account without triggering a taxable event, per a press release sent to Bitcoin Magazine. Under the current tax laws, revenue from Bitcoin mining is taxed as income. Currently, miners must also pay capital gains taxes when they are forced to sell some of their bitcoin to cover other tax obligations. Through mining in a Choice account, miners avoid taxes on....
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The U.S.-based company Compass Mining plans to sell $30 million worth of bitcoin mining equipment that’s currently located in Siberia. The decision to sell the mining rigs follows the U.S. government sanctioning the bitcoin mining operation Bitriver and ten subsidiaries. Compass is hoping to offload 12 megawatts of capacity, according to a company executive. Compass Hopes to Sell 12 MW of Bitcoin Mining Capacity in Russia to Pay Clients According to Compass Mining’s CEO Whit Gibbs, the firm is selling $30 million in mining equipment that is currently located in Siberia.....
Compass Mining partners with Red Jar Digital Infrastructure to pioneer Bitcoin mining in Ontario, Canada.
Delaware-based Compass Mining offers U.S. citizens exposure to Bitcoin mining via its private infrastructure. American banking giant JPMorgan Chase has reportedly blocked all account activities of Compass Mining, a Bitcoin (BTC) mining company based out of Delaware. The information came to light when Compass Mining CEO Whit Gibbs announced:“Shoutout to Chase for shutting down Compass Mining accounts for doing our part to replace the old guard with self-sovereign, future-focused supporters of hard money. Get behind #Bitcoin or get out of our way.”Compass Mining has been involved in offering....
The new mining operations manager for Compass Mining discusses his experience, offers tips for mining at home and predicts the industry’s future.
Bitcoin mining firm Compass Mining announced the company has entered a 20-year partnership with Oklo Inc., a California-based firm that produces clean, emission-free energy via advanced fission. Oklo explains the company is committed to providing 150 megawatts (MW) of clean power to Compass in order to drive bitcoin mining operations. Advanced Fission and Bitcoin Mining Connect In recent times, all types of renewable and sustainable energy sources have been applied to bitcoin mining processes as miners worldwide leverage excess flare gas, hydropower, solar energy, and geothermal solutions.....