Bitcoin mining is treated by the CRA as a barter exchange involving services in exchange for bitcoin.
CRA considers bitcoin mining as a barter exchange and requires miners to report as income either the value of the services rendered or the value of bitcoin received, whichever is more easily valued. In most cases, the value of bitcoin is more easily valued.
CRA classified mining as a services business and applied its analysis to its Bulletin on barter transactions, which may create difficulties in some situations where a business generates property as well as services.
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