COST

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• Accounting methods for bitcoin mining vary significantly, and results can differ substantially based on methodology.
• Depreciation schedules, in particular, lack standardization and can tangibly impact reported margins.
• We propose a common, straightforward methodology for accounting for costs in bitcoin mining.
• We’ve also open-sourced a spreadsheet for calculating costs based on the parameters of the user’s operation or public company filings.

 In this report, we explain and assess methods for accounting for Bitcoin miners' cost to mine a bitcoin. We also propose our own methodology, which we believe offers improvements over several other methods that exist in the market today. You can use the calculator we created by downloading this spreadsheet.