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Everyone Was WRONG About Newest Crypto Tax HavenHow much tax on crypto mining rewards? It all depends on how much you earn. You'll pay Income Tax of up to 37% upon receipt of mining rewards, and Capital Gains. The IRS views Bitcoin mining or cryptocurrency mining as a taxable activity. Each time you receive a mining reward, you have taxable income to. Ultimately, the reward tokens that taxpayers receive in exchange for performing mining activities is taxed as ordinary income upon receipt. The received tokens.