Administrative Policy
GST/HST Notice No. 324, "Mining Assets in respect of Cryptoassets" June 2025
Mining activity includes executing proof-of-stake protocols and use of mining equipment (under “What is a mining activity?”)
The definition includes under paragraph (a) validating transactions and adding them to the publicly distributed ledger. The validating of transactions may be performed by any one of the various methods that cryptoasset networks use such as those that are commonly referred to as proof-of-work or proof-of-stake protocols. In addition, paragraph (c) of the definition would include, for example, a person that allows another person to use their equipment to carry out the validating of transactions and adding them to the publicly distributed ledger. In this case, both persons would be performing mining activities.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Virtual Payment Instrument | 141 | |
| Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Cryptoasset | 55 | |
| Tax Topics - Excise Tax Act - Section 188.2 - Subsection 188.2(4) | 150 | |
| Tax Topics - Excise Tax Act - Section 188.2 - Subsection 188.2(2) | 365 | |
| Tax Topics - Excise Tax Act - Section 188.2 - Subsection 188.2(5) | 672 | |
| Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Recipient | 208 | |
| Tax Topics - Excise Tax Act - Section 141.01 - Subsection 141.01(4) | 283 | |
| Tax Topics - Excise Tax Act - Section 200 - Subsection 200(2) | 427 | |
| Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Consideration | deduction from consideration paid by crypto pool operator to taxable supplier generally treated as such rather than as consideration for supply by operator | 101 |