Sounds cool and I saw that they have cheap power but I think it’s more practical to buy vs. mine. I only mine as a hobby for that reason. Also too much risk with cloud mining
nostr:npub12r0yjt8723ey2r035qtklhmdj90f0j6an7xnan8005jl7z5gw80qat9qrx what you think of this business model?
Discussion
I am thinking more from their perspective as the business owner than the customer.
Are their fees likely to give a higher return than grid contracts + government solar build subsidies.
I really to understand the government subsidies on solar projects. I would like to recoup some of my taxes.
For solar to work on a commercial scale you have to have a tax appetite. Solar qualifies for a 30% federal tax credit on the total cost of the solar project. In addition you are able to depreciate the entire cost 100% in year one (if you can use it! You have to have gains to offset) Additionally you are entitled to State incentives.(most States have some kind of SREC, or cash grant)
Solar + Bitcoin Mining isn’t enough you need to have another entity that is cash flowing and has a high taxable income.
Lots of wealthy people need tax loss harvesting. What about a solar mining s-corp for harvesting tax losses (and Bitcoin)? For a corporation, are the mined bitcoins taxable at the time of mining pool distribution or exchange sale? In other words, is a tax loss harvesting s-corp with a bitcoin treasury, generating only losses, while gaining in capital value?