The U.S. tax code will restore full bonus depreciation for Bitcoin mining equipment in mid-2025, allowing investors to fully deduct the cost of qualifying equipment from pre-tax income in the year of purchase. Beau Turner, CEO of Abundant Mines, highlighted this as a significant tax strategy for the cryptocurrency industry. Currently, investors who own mining hardware can immediately expense the full cost, reducing taxable income. This policy change is expected to influence asset allocation and tax planning strategies as tax season approaches.
U.S. to Reinstate Full Tax Deduction for Bitcoin Mining Equipment in 2025
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