If you mine cryptocurrency, your tax situation is fundamentally different from a trader's. Every block reward you earn is treated as income at its fair market value on the day you receive it1. Then, when you later sell or spend those coins, you owe capital gains tax on any appreciation. That's two tax events per reward — and if you're running multiple rigs across several pools, the transaction count adds up fast.
Standard crypto tax tools can handle a few dozen trades. Miners need software built for volume, one that can sync directly with mining pools, classify rewards as income automatically, and generate the right forms (Form 8949 for capital gains, Schedule 1 for mining income). We tested the market's leading platforms against exactly those criteria. Here are the things actually worth buying.
The Shortlist
| Product | Best For | API Sync | Mining-Specific Features | Reporting Formats |
|---|
| Koinly | Most miners | 900+ exchanges/wallets | Auto-classifies mining as income at FMV; pool sync | Form 8949, Schedule 1, TurboTax |
| CryptoTaxCalculator | DeFi-heavy miners | 500+ protocols | DeFi-first; handles LP tokens, staking, and mining | Form 8949, CSV export |
| TaxBit | High-volume / institutional miners |
1. Koinly — Best for Most Miners
Koinly is the most versatile option for cryptocurrency miners, supporting over 900 exchanges and wallets1. Its mining-specific features are what set it apart: the platform automatically identifies mining income from connected pools and wallets, values each reward at its fair market value on receipt, and classifies it as ordinary income — exactly as the IRS requires1.
For miners who also trade or stake, Koinly tracks cost basis across all activities, so when you eventually sell those mined coins, the capital gains calculation is seamless. The platform generates Form 8949 and Schedule 1, and can export directly to TurboTax. It's the set-and-forget solution for the vast majority of home and small-scale miners.
The trade-off: Koinly's free plan is limited to 10,000 transactions. Serious miners with multiple rigs running year-round may need a paid tier.
Get started with Koinly →
2. CryptoTaxCalculator — Best for DeFi-Heavy Miners
CryptoTaxCalculator takes a DeFi-first approach, with support for over 500 protocols2. This matters for miners who don't just mine — they also provide liquidity, stake their rewards, or participate in yield farms. The platform's protocol-level parsing handles complex transactions (LP token deposits, yield farming rewards, wrapped asset conversions) that simpler tools misclassify.
For mining specifically, CryptoTaxCalculator lets you import pool data directly and tag rewards as mining income. Its transaction tagging is granular enough to separate mining income from staking rewards from airdrops — all of which have different tax treatments. The reporting engine produces Form 8949 with FIFO, LIFO, or specific identification cost-basis methods.
The trade-off: The interface has a steeper learning curve than Koinly. If you're a pure miner with no DeFi activity, you're paying for protocol support you won't use.
Try CryptoTaxCalculator →
3. TaxBit — Best for High-Volume / Institutional Miners
TaxBit is built for scale3. It's the platform used by large mining operations and institutional crypto firms, and it shows in the reporting depth. TaxBit offers GAAP-compliant accounting, audit-ready report packages, and dedicated support for high-volume transaction loads that would choke consumer-grade tools.
For mining operations, TaxBit handles pooled mining payouts, multiple wallet addresses, and complex cost-basis scenarios across thousands of transactions. Its API sync is enterprise-grade, and the platform can generate custom reports beyond the standard Form 8949 — useful for operations that need to report to investors or comply with institutional audit requirements.
The trade-off: TaxBit is overkill for individual miners with a few rigs. The pricing reflects the enterprise target market, and the feature set assumes you have accounting or compliance support.
Explore TaxBit →
How to Choose
Your mining setup determines the right tool:
- Single rig, one pool, occasional trading → Koinly. It's the easiest to set up and covers the essentials.
- Multiple rigs, multiple pools, active DeFi → CryptoTaxCalculator. The protocol depth prevents misclassifications.
- Large operation, institutional reporting needs → TaxBit. The audit-ready output and volume handling justify the cost.
All three platforms offer free tiers or trials. Import a sample of your mining data before committing — the best tax software is the one that correctly classifies your transactions.
Recomate is reader-supported. When you buy through links on our site, we may earn an affiliate commission. Our picks are based on independent testing and research.
