Same story, bought an RX580 to build a budget gaming box, ended up mining with it to pay for the rig. Electricity in Oregon is pretty cheap, and I optimized wel

Same story, bought an RX580 to build a budget gaming box, ended up mining with it to pay for the rig. Electricity in Oregon is pretty cheap, and I optimized well (30Mh/s), but my margins were healthy. I switched to another pool that paid out less often after realizing the accounting nightmare that nicehash makes. I did make a cost basis tracker, not sure if the APIs still work tho: https://github.com/igmcdowell/nicehash-basis-tracker https://github.com/igmcdowell/nicehash-basis-tracker As others said, you should pay taxes on the initial value of coins on receipt, but when you convert to fiat you only owe taxes on the change in value since you received it (your cost basis). You might even have a small loss at this point if the value of BTC dipped between receipt and sale. Usual IANAL/Tax person disclaimer.