Digital Power Network Members Call on Treasury to Modernize Outdated Tax Guidance on Bitcoin Mining Rewards
FOR IMMEDIATE RELEASE
Washington, D.C. — Today, leading U.S. Bitcoin mining companies, members of the Digital Power Network (DPN) representing over 75% of the nation’s total Bitcoin hash rate, called on the U.S. Department of the Treasury to immediately update the federal tax treatment of Bitcoin mining rewards.
In a joint letter to Treasury Secretary Scott Bessent, the undersigned DPN members urged the agency to revise decade-old IRS guidance that taxes mining rewards at the moment they are created, rather than when they are sold or exchanged. This policy, established in IRS Notice 2014-21, imposes tax on unrealized gains, often in volatile markets, and is out of step with the treatment of other commodities such as wheat, oil, and gold.
“The White House has already called for Treasury to fix this,” said Hailey Miller, Director of Government Relations & Public Policy at DPN. “It’s time to align Bitcoin mining with established commodity principles and remove a needless barrier to U.S. competitiveness.”
The July 17, 2025 White House Digital Assets Report explicitly recommended that Treasury and the IRS update this guidance, recognizing that taxing mining rewards only upon sale or exchange would better reflect economic reality and strengthen America’s leadership in blockchain infrastructure.
The letter’s signatories, American Bitcoin, Marathon Digital Holdings (MARA), Riot Platforms, Inc., CleanSpark, and Bitdeer Technologies Group, represent the backbone of U.S. Bitcoin mining and digital infrastructure.
Updating the policy would:
End taxation on unrealized, volatile gains;
Drive new investment and high-quality U.S. jobs;
Bolster America’s edge over global competitors;
Accelerate energy-aligned computing and grid innovation.
Read the full letter here.
About the Digital Power Network (DPN):
The Digital Power Network (DPN) is the largest coalition of Bitcoin miners and digital infrastructure leaders in the United States, representing over 75% of domestic Bitcoin hash rate. DPN advocates for policies that promote energy innovation, grid resilience, economic development, and the strategic role of digital assets in the 21st-century economy.