Cryptocurrency mining: how it is taxed in Spain 2025
Cryptocurrency mining has gone from being a geek hobby to a real economic activity that moves millions of euros in Spain. And where there is money, there are taxes. The AEAT has had clear criteria since 2021 and in this guide we explain everything to you.
Is mining an economic activity?
Yes. The General Directorate of Taxes (DGT) has confirmed in several binding consultations (V1604-21, among others) that cryptocurrency mining constitutes an economic activity for personal income tax purposes, as long as it is carried out regularly and for profit.
This has immediate consequences:
- You must register with the IAE (Tax on Economic Activities).
- Income is declared as income from economic activities (Section F of personal income tax), not as capital gains.
- You have the right to deduct expenses related to the activity.
If you mine occasionally and with minimal means, the Treasury may interpret it as a return on capital. But if you have several miners, pay significant electricity bills and mine regularly, it is an economic activity no matter what.
When is mining reward taxed?
The reward (in BTC, ETH or another crypto) is taxed at the time of receipt, valued at the market price of that moment.
Example:
- You receive 0.05 BTC mining reward on March 15, 2025.
- The price of BTC that day is €80,000/BTC.
- Tribune as income from economic activity: 0.05 × 80,000 = €4,000.
That acquisition price (€4,000) will be your base cost when you later sell those 0.05 BTC.
Deductible mining expenses
This is the interesting part. As an economic activity, you can deduct:
| Expense | Deductible | Notes |
|---|---|---|
| Electricity | Yes | You need invoices and separate personal use |
| Hardware (ASICs, GPUs) | Yes (amortization) | It is amortized according to tables, not direct expense |
| Refrigeration / cooling | Yes | Mining room air conditioning |
| Internet | Partially | Only the part proportional to the activity |
| Warehouse/premises rental | Yes | If it is exclusively dedicated space |
| Pool fees | Yes | Pool commissions are a direct expense |
| Cloud mining hosting | Yes | If you pay a third party for the infrastructure |
The hardware is not deducted at once. It is amortized: computers and computer equipment have a maximum amortization of 25% per year (simplified amortization table for SMEs).
Models and formal obligations
- Form 036/037: Registration with the Treasury as an entrepreneur/self-employed person.
- Form 130: Quarterly installment payment of personal income tax (if you use direct estimation).
- IAE: Section 831.9 or others depending on the exact nature.
- VAT: Mining rewards are not subject to VAT (CJEU, ruling 10/22/2015). But if you sell used equipment, there may be VAT.
Pool mining vs. solo mining
- Pool mining: Each partial reward you receive is taxed at the moment. Keep meticulous records.
- Solo mining: Only pay taxes when you get the full block.
Mining as a hobby: does it exist?
Technically, if you mine very sporadically and with a single team, the DGT admits that it may not be an economic activity. But the burden of proof is on you. If the Treasury requires you, you must demonstrate that there is no habitual activity or profit motive. The risk is high: better to declare it as an activity and deduct expenses.
Subsequent sale of crypto mining
When you sell the BTC (or other crypto) you mined:
- The acquisition cost is the market value when you received it as a reward.
- The difference between the sales price and that cost is capital gain or loss that is integrated into the savings base (19-28%).
- Apply the FIFO method as for any other transmission.
To keep exhaustive control of your mining rewards, dates, historical prices and automatic FIFO calculation, declaracrypto.es is the tool specialized in Spanish crypto taxation.
Updated: April 2026 | Fiscal year: 2025