Cryptocurrency Mining in Spain: Taxation, IAE, and Self-Employed Obligations

Cryptocurrency mining has evolved from an activity accessible to enthusiasts into a professional industry that requires significant investment in hardware, electricity, and technical know-how.

Beyond the technological aspects, mining Bitcoin, Ethereum, and other cryptocurrencies has very specific tax implications in Spain that every miner should understand.

Unlike the buying and selling of cryptocurrencies—which is taxed as a capital gain—mining is considered an economic activity by the AEAT, which entails more complex tax obligations: IAE registration, self-employment (RETA) contributions, VAT, quarterly advance payments, and taxation in the IRPF general base.

In this complete guide we analyze every tax aspect of cryptocurrency mining in Spain in 2025, from the moment you start mining to the annual filing of your income.

Concept of mining

Cryptocurrency mining is the process by which transactions are validated on blockchain networks using computing power, in exchange for rewards in the form of newly issued cryptocurrencies and transaction fees.

Main types of mining

1. Proof of Work (PoW) – Traditional mining:

• Bitcoin (BTC)
• Litecoin (LTC)
• Dogecoin (DOGE)
• Bitcoin Cash (BCH)
• Monero (XMR)

Requires specialized hardware (ASICs or powerful GPUs) and consumes large amounts of electricity.

2. Pool Mining (group mining):

Instead of solo mining, miners join pools where they share computing power and split rewards proportionally.

Major pools:

• Foundry USA Pool
• AntPool
• F2Pool
• Binance Pool
• Slush Pool

3. Cloud Mining:

Renting mining power from specialized companies without owning hardware. Less profitable but with lower technical complexity.

AEAT’s position: mining as an economic activity

According to the Dirección General de Tributos (binding rulings V2846-18 and V0999-18), cryptocurrency mining is considered an economic activity when it is carried out:

• ✅ Habitually: On an ongoing basis over time
• ✅ In an organized manner: With your own production means (hardware, facilities)
• ✅ For profit: With the aim of obtaining economic returns

This means that mining income is business income from an economic activity, not capital gains.

Not all mining activity receives the same tax treatment. The AEAT distinguishes between professional and occasional mining.

Professional miner (economic activity)

Characteristics:

• Continuous, habitual mining
• Significant investment in equipment
• Dedicated facilities (mining farm)
• High and constant electricity consumption
• Participation in professional mining pools

Tax obligations:

• ✅ Registration in the IAE (Impuesto sobre Actividades Económicas – Economic Activities Tax)
• ✅ Enrollment in RETA (Régimen Especial de Trabajadores Autónomos – Self-Employed Scheme)
• ✅ Quarterly VAT returns (Modelo 303) – NOT SUBJECT
• ✅ IRPF advance payments (Modelo 130)
• ✅ Annual return in Modelo 100 (general base)
• ✅ Income and expense ledgers

Occasional miner (individual)

Characteristics:

• Sporadic or experimental mining
• Home equipment (personal PC, gaming GPU)
• No dedicated facilities
• Secondary activity without professional profit motive

Tax obligations:

• ✅ No need to register as self-employed
• ✅ Mined cryptocurrencies are valued at €0 upon receipt
• ✅ Taxation only upon sale (capital gain in the savings base)
• ✅ Report in Modelo 100 if sold

When are you required to register as self-employed?

Guiding criteria:

If you meet several “professional miner” criteria, you should register as self-employed.

Step 1: Census registration (Modelo 036 or 037)

You must register in the Business Census using Modelo 036 (full) or 037 (simplified).

Main fields to complete

IAE heading:

Cryptocurrency mining can be classified under:

• Option 1 (recommended): Heading 831.9 – “Other financial services n.e.c.”
• Option 2: Heading 849.9 – “Other information technology-related services”

VAT regime:

Tick operations NOT subject to VAT for mining activity (explained below).

Economic activity description:

Description: “Cryptocurrency mining using blockchain technology”

Filing deadline

File Modelo 036/037 before starting the activity or, at the latest, in the month you begin operating.

Where to file?

• Online: AEAT e-office (requires digital certificate or Cl@ve PIN)
• In person: Tax Agency office with an appointment

Step 2: Enroll in the Self-Employed Scheme (RETA)

At the same time as your census registration, you must enroll in RETA (Self-Employed Social Security Scheme).

Self-employed contributions in 2025

Since 2023, Spain applies a real income-based contribution system with brackets:

Flat rate for new self-employed:

If this is your first time as self-employed (or more than 2 years have passed since your last registration):

• First 12 months: €80/month (≈80% reduction)
• Following 12 months: Progressive reductions

RETA enrollment process

Deadline: Within 30 calendar days from the start of activity.

Channels:

• Online: Social Security e-office (Import@ss)
• In person: Social Security office

Required documents:

• DNI/NIE
• Form TA.0521 (enrollment request)
• Proof of census registration (Modelo 036)

Inclusion in the IRPF general base

Income from cryptocurrency mining is taxed in the IRPF general base, with progressive rates significantly higher than the savings base.

2025 tax rates (state + regional)

Comparison with savings base (crypto trading):

As you can see, taxation as an economic activity is higher, especially for middle-to-upper incomes.

Calculating net income

Net income from mining is calculated as:

Net income = Total income − Deductible expenses

Valuing income

Income is determined by the market value of the cryptocurrencies mined at the time you receive them.

Example:

You mine 0.5 BTC on March 15, 2024:

• BTC price that day: €55,000/BTC
• Income to report: €27,500

That amount (€27,500) will also be your tax acquisition value when you sell those BTC in the future.

Valuation frequency

Option 1 (recommended): Value each reward individually when received

Option 2: Aggregate valuation (e.g., monthly), computing the monthly average value

One tax advantage of mining is that it is NOT subject to VAT, according to the AEAT’s criteria.

Why is there no VAT on mining?

Under Spain’s VAT Law (Law 37/1992), for a transaction to be subject to VAT it must:

1. Be a supply of goods or a provision of services
2. Have a direct link between the service and the consideration
3. Clearly identify supplier and recipient

In cryptocurrency mining:

• ❌ There is no specific recipient of the service
• ❌ There is no direct link between the validation work and a specific reward
• ❌ The reward comes from the blockchain protocol, not from a client

Therefore, the activity is NOT subject to VAT.

Practical consequences

Advantages:

• ✅ You do not charge VAT (21%) on your mining income
• ✅ Administrative simplification

Disadvantages:

• ❌ You cannot deduct input VAT on purchases related to the activity (electricity, equipment, etc.)

VAT returns (Modelo 303)

Even though mining is not subject to VAT, you must:

• File quarterly VAT returns marking the box for non-subject operations
• If you only carry out mining, your returns will be “blank” (no quotas)
• Keep evidence supporting that your activity is non-subject

Subsequent sale of mined cryptocurrencies

When you sell the cryptocurrencies you mined:

• If you sell to individuals (P2P): No VAT
• If you sell via exchanges: No VAT (exempt operations)
• The gain/loss compared to the acquisition value (value when mined) is taxed as a capital gain

As an economic activity, you may deduct all expenses directly related to mining.

Main deductible expenses

1. Electricity (energy consumption)

The most important expense for miners.

• ✅ 100% deductible if you have a separate meter for mining equipment
• ✅ Deductible proportionally if it’s a mixed meter (home + mining)

Calculating the deductible percentage:

% Deductible = (Mining equipment consumption / Total consumption) × 100

Example:

• Total monthly home consumption: 400 kWh
• Estimated mining equipment consumption: 300 kWh
• Deductible percentage: 75%
• Monthly electricity bill: €150
• Deductible expense: €112.50

2. Mining hardware

Specific equipment:

• ASIC miners (Antminer, Whatsminer, etc.)
• High-performance GPUs
• Power supplies
• Cooling systems (fans, air conditioning)
• Racks and shelving

Tax treatment:

• If the cost is < €300: Directly deductible expense
• If the cost is > €300: Depreciation per official tables

Depreciation table:

Depreciation example:

You purchase an Antminer S19 Pro for €5,000:

• Annual depreciation: €5,000 × 25% = €1,250/year
• You can deduct €1,250 per year for 4 years

3. Dedicated premises or space

If you mine from home (primary residence):

• Deductible proportionally according to m² used exclusively
• Maximum: 30% of expenses (AEAT commonly accepts 20–30%)

Deductible premises expenses:

• Rent or depreciation (if owned)
• Property tax (IBI)
• Homeowners’ association fees
• Home insurance (proportionally)
• Repairs and maintenance

Example:

100 m² home, 15 m² room dedicated to mining:

• Percentage: 15%
• Monthly rent: €800
• Deductible monthly expense: €120

4. Connectivity and communications

• ✅ Internet (100% if exclusive, proportional if shared)
• ✅ Business mobile phone
• ✅ Servers and hosting (for pools or own nodes)

5. Software and subscriptions

• ✅ Monitoring software licenses (Hive OS, MinerStat, Awesome Miner)
• ✅ Mining pool subscriptions (fees)
• ✅ Tax management tools (Koinly, CryptoTax)
• ✅ Cloud services for analytics

6. Advisory and professional services

• ✅ Tax advisory and accounting
• ✅ Legal advice
• ✅ Specialized technical services
• ✅ Audits

7. Insurance

• ✅ Equipment insurance against theft/damage
• ✅ Liability insurance
• ✅ Business interruption insurance

8. Financing

• ✅ Interest on loans to acquire equipment
• ✅ Bank fees related to the activity

9. Training

• ✅ Courses on mining, blockchain, optimization
• ✅ Technical books and specialist subscriptions
• ✅ Attendance at industry conferences and events

Mandatory documentation

For each deductible expense you must keep:

• ✅ Invoice or receipt (with supplier’s tax ID)
• ✅ Proof of payment (transfer, bank statement)
• ✅ Clear relation to the economic activity
• ✅ Entry in the expense ledger

Modelo 130: IRPF advance payments

Modelo 130 is a quarterly self-assessment through which you prepay 20% of your profit to the Tax Agency.

Who must file it

You are required to file if:

• You are self-employed under the direct assessment regime
• More than 70% of your income does not bear IRPF withholding

(In crypto mining, 100% of your income has no withholding, so you are required.)

Calculating the advance payment

Advance payment = (Cumulative income − Cumulative expenses) × 20%

Minus:

• Prior quarterly advances in the same year
• Withholdings borne (if any)

2025 filing deadlines

Practical example: First quarter

Q1 2025 activity:

• Mined crypto (market value): €15,000
• Deductible expenses:
  • Electricity: €1,200
  • Equipment depreciation: €1,000
  • Internet: €150
  • Advisory: €300
  • Total expenses: €2,650

Calculation:

Quarterly profit = €15,000 − €2,650 = €12,350
Advance payment (20%) = €2,470

You must pay €2,470 by April 20.

Filing

• Online: AEAT e-office
• Payment via bank direct debit or NRC (Número de Referencia Completo)

Modelo 303: Quarterly VAT return

Although mining is NOT subject to VAT, you must file Modelo 303 quarterly.

Return contents

Specific box: Non-subject operations

You will indicate:

• Mining activity: non-subject operation
• Amount of the activity (informative)

Result: Amount due = €0

Why file if it’s non-subject?

Informational obligation so the AEAT is aware of your economic activity.

Filing deadlines

Same as Modelo 130:

• Q1: 1–20 April
• Q2: 1–20 July
• Q3: 1–20 October
• Q4: 1–30 January

Annual return (Modelo 390)

At year-end, you must file the annual VAT summary (Modelo 390) in January.

At the end of the fiscal year, you must include all mining income in your IRPF income tax return (Modelo 100).

Relevant section

Income from economic activities under direct assessment:

• Boxes 086 to 094
• “Professional activities” or “Business activities” section (depending on your classification)

Information to include

Total annual income:

• Sum of all cryptocurrencies mined, valued at market price at the time obtained

Deductible expenses by category:

• Operating consumables (electricity)
• Leases (premises)
• Repairs and maintenance
• Independent professional services (advisory)
• Other external services (internet, software)
• Depreciation
• Other expenses

Net income:

Net income = Total income − Deductible expenses

Integration with other income

Net mining income is added to:

• Employment income (if you are also an employee)
• Other income from economic activities
• Imputed income, etc.

Forming the IRPF general base on which progressive rates are applied.

Deducting advance payments

Quarterly payments (Modelo 130) are deducted from the final tax due:

Full-year example:

Annual net income: €45,000
Calculated IRPF (average rate 30%): €13,500

Less:
- Advance payments (Modelo 130): €9,000
- Employment withholdings (if any): €0

= Amount to pay: €4,500

Filing window

From April 3 to June 30, 2026 (for tax year 2025)

After mining cryptocurrencies and being taxed on their receipt, when you sell them you will face a second layer of taxation on the capital gain or loss.

Double taxation: mining + sale

Moment 1: When mining (economic activity)

• Market value is taxed as business income
• IRPF general base (up to 47%)

Moment 2: Upon sale (capital gain)

• The difference between sale price and value at mining is taxed
• IRPF savings base (19%–28%)

Full cycle example

March 15, 2024: You mine 0.5 BTC

• BTC price: €55,000/BTC
• Value mined: €27,500
• 2024 taxation: €27,500 as business income
• Estimated IRPF (30%): €8,250

Tax acquisition value for those 0.5 BTC: €27,500

October 20, 2024: You sell the 0.5 BTC

• BTC price: €62,000/BTC
• Sale price: €31,000
• Acquisition value: €27,500
• Capital gain: €3,500
• IRPF (19%): €665

Total taxation:

• For mining: €8,250
• For sale: €665
• Total: €8,915

Capital losses: offset opportunities

If you sell at a loss, you may offset it:

• ✅ Against other capital gains in the same year
• ✅ Against investment income (up to 25%)
• ✅ Against prior-year losses (4 years)

Loss example:

You mine 1 ETH at €2,500 → Sell at €2,000 → Loss: €500

That loss reduces your savings base.

Let’s look at a realistic example of a professional miner over a full year.

Miner profile: Alberto

• Activity: Bitcoin mining in a pool
• Equipment: 4 Antminer S19 Pro
• Initial investment: €20,000
• Premises: 20 m² room in a 100 m² home
• Dedicated electricity consumption: 350 kWh/month
• First time self-employed: Yes (flat rate available)

2025 annual income

Mining rewards:

• Q1: 0.15 BTC → €8,250 (avg. €55,000/BTC)
• Q2: 0.14 BTC → €8,260 (avg. €59,000/BTC)
• Q3: 0.13 BTC → €7,800 (avg. €60,000/BTC)
• Q4: 0.12 BTC → €7,680 (avg. €64,000/BTC)

Total income: €31,990

2025 deductible expenses

Electricity:

• Monthly consumption: 350 kWh × €0.30/kWh = €105/month
• Annual: €1,260

Equipment depreciation:

• 4 ASICs: €20,000 × 25% = €5,000/year

Internet:

• €50/month × 12 = €600

Premises (20% of home):

• Rent: €700/month × 20% = €140/month
• Annual: €1,680

Utilities (20% of home):

• HOA, insurance, IBI: €1,200 × 20% = €240

Professional services:

• Accounting and tax advisory: €1,500

Software and subscriptions:

• Hive OS + tools: €300

Training:

• Mining optimization course: €400

Total expenses: €10,980

Net income

Income: €31,990
Expenses: €10,980
Net income: €21,010

Social Security contributions

With flat rate (first 12 months):

• €80/month × 12 = €960

Advance payments (Modelo 130)

Quarterly advances (20% of profit):

Q1: (€8,250 − €2,745) × 20% = €1,101
Q2: (€16,510 − €5,490 − €1,101) × 20% = €1,984
Q3: (€24,310 − €8,235 − €3,085) × 20% = €2,598
Q4: (€31,990 − €10,980 − €6,683) × 20% = €2,865

Total advances: €8,548

Income tax return (Modelo 100)

General taxable base:

• Mining activity income: €21,010
• Other income (employment): €0
• Total general base: €21,010

Approximate IRPF calculation:

Up to €12,450: €12,450 × 18.5% = €2,303
€12,450 to €20,200: €7,750 × 24% = €1,860
€20,200 to €21,010: €810 × 30% = €243

Total IRPF: €4,406

Minus:

• Advance payments (Modelo 130): €8,548

Result: Refund of €4,142

(Advance payments exceeded the final tax due.)

Year-end financial summary

Gross mining income: €31,990
Business expenses: −€10,980
Self-employed contributions: −€960
Net IRPF (after refund): €0 (refund exceeds payments)

Net profit: €20,050

Net return: €20,050 / €20,000 investment = 100% annual

Additionally, he keeps:

• 0.54 BTC mined (current value: ~€34,000)
• If sold, only the additional capital gain will be taxed

Mistake 1: Not registering as self-employed

Problem: Mining habitually without registering.

Consequence:

• Penalties for undeclared economic activity
• Retroactive regularization of self-employment contributions
• Tax assessments with surcharges

Solution: Register BEFORE starting professional activity.

Mistake 2: Not valuing cryptocurrencies correctly when mined

Problem: Using the sale value instead of the value at the time of mining.

Consequence: Incorrect calculation of business income and capital gains.

Solution: Record the exact market value of each mining reward at the moment you receive it.

Mistake 3: Not keeping expense documentation

Problem: Claiming deductions without invoices or supporting docs.

Consequence: In an audit, the AEAT may deny deductions and assess differences.

Solution:

• Always request an invoice with your tax ID (NIF)
• Keep proof of payment
• Maintain an organized archive for 4–6 years

Mistake 4: Confusing the taxation of mining with buying crypto

Problem: Thinking mining is taxed the same as buying and selling.

Reality:

• Buying/selling: Capital gain (savings base, 19–28%)
• Mining: Economic activity (general base, up to 47%)

Solution: Clearly separate both activities in your bookkeeping.

Mistake 5: Not filing Modelo 130 quarterly

Problem: Thinking the annual return is enough.

Consequence:

• Surcharges and late-payment interest
• Penalties for not filing advance payments

Solution: Set reminders to file Modelo 130 every quarter (April, July, October, January).

Mistake 6: Deducting 100% of mixed expenses

Problem: Deducting the full electricity/internet bill when also used personally.

Consequence: Unjustified expense that may be disallowed.

Solution: Proportionally calculate mixed expenses and document your method.

Mistake 7: Not declaring cryptocurrencies on foreign exchanges

Problem: Holding over €50,000 in mined crypto on exchanges outside Spain without filing Modelo 721.

Consequence: Penalties from €1,500 up to 150% of the undeclared value.

Solution: File Modelo 721 in March if you exceed the thresholds.

From a tax perspective, here are the differences:

Cryptocurrency mining

Tax advantages:

• ✅ Deductible expenses (electricity, equipment, premises, etc.)
• ✅ Depreciation of investments
• ✅ Not subject to VAT
• ✅ Potential self-employed flat rate

Tax disadvantages:

• ❌ Taxed in the general base (up to 47%)
• ❌ Self-employment contributions (minimum ~€960 annually with flat rate)
• ❌ Administrative obligations: Modelos 130, 303, accounting books
• ❌ Double taxation: at mining + at sale

Buying and selling (trading)

Tax advantages:

• ✅ Taxed only on sale (savings base, 19–28%)
• ✅ No self-employed obligations
• ✅ No monthly contributions
• ✅ Administrative simplicity

Tax disadvantages:

• ❌ No deductible expenses
• ❌ Investments cannot be depreciated
• ❌ Immediate taxation of gains upon sale

Comparative example

Scenario: Invest €20,000 in crypto

Option A: Buy Bitcoin directly

• Investment: €20,000 in BTC
• BTC rises 50% in 1 year → Value: €30,000
• You sell: Gain €10,000
• IRPF (21%): €2,100
• Net profit: €7,900

Option B: Buy mining equipment

• Investment: €20,000 in ASICs
• You mine €31,990 in 1 year (example above)
• Deductible expenses: €10,980
• Net income: €21,010
• IRPF (avg. 21%): €4,406
• Self-employed contributions: €960
• Net profit: €15,644
• You also retain the equipment (residual value ~€10,000)

Conclusion: In this scenario, mining is fiscally more profitable if:

• BTC’s price remains stable or rises moderately
• You optimize deductible expenses
• Mining difficulty does not spike dramatically

But trading is simpler and requires no technical skills or infrastructure.

The taxation of cryptocurrency mining is constantly evolving.

Regulatory trends 2025–2026

1. MiCA regulation (Markets in Crypto-Assets)

• EU framework that may affect crypto service providers
• Possible mandatory registration for professional miners
• Greater oversight and transparency

2. Environmental criteria

• Debate over mining’s energy consumption
• Possible tax incentives for mining with renewable energy
• Restrictions in some autonomous communities

3. Reporting obligations

• DAC8 directive: Automatic exchange of tax information
• Mining pools may have to report users’ income
• Greater data matching across jurisdictions

4. Evolution of the economic-activity criteria

• Possible updates to thresholds distinguishing occasional/professional miners
• Clarification regarding cloud mining and staking

Recommendations for the future

• ✅ Keep all documentation up-to-date and accessible
• ✅ Always file, even where there are grey areas
• ✅ Work with advisors specialized in crypto
• ✅ Proactively adapt your activity to regulatory changes

Cryptocurrency mining in Spain is a perfectly legal and regulated economic activity, but with complex tax obligations that require specialized attention.

Key points to remember

• ✅ Mining = Economic activity: Taxed in the IRPF general base (up to 47%)
• ✅ Mandatory registration: IAE (heading 831.9) + RETA from the start
• ✅ Not subject to VAT: You don’t charge VAT, but you can’t deduct input VAT either
• ✅ Quarterly Modelo 130: 20% advance payments every 3 months
• ✅ Broad deductible expenses: Electricity, equipment, premises, advisory, etc.
• ✅ Double taxation: At mining (business income) + at sale (capital gain)
• ✅ Flat rate available: €80/month for the first 12 months for new self-employed
• ✅ Valuation upon mining: Market price at the exact time of each reward
• ✅ Essential documentation: Keep all invoices, proofs, and records

When is mining tax-efficient?

Professional mining may be tax-attractive if:

1. You have access to cheap electricity (< €0.10/kWh)
2. You can deduct significant expenses (dedicated premises, equipment)
3. You keep the activity continuous to amortize investment and contributions
4. The price of the mined crypto stays stable or rises
5. Network difficulty does not increase drastically

If these conditions are not met, trading (buy/sell) may be more tax-efficient.

Are you mining cryptocurrencies or planning to start? Don’t leave your taxes to chance. At Cleriontax we specialize in the taxation of crypto-related economic activities.

Our services for miners include:

• ✅ Guidance for self-employment registration (IAE and RETA)
• ✅ Feasibility analysis of your mining project from a tax perspective
• ✅ Optimized calculation of deductible expenses
• ✅ Preparation and filing of Modelos 130, 303, 100
• ✅ Management of income and expense ledgers
• ✅ Valuation of mined cryptocurrencies (full historical record)
• ✅ Reporting of subsequent sales and capital gains
• ✅ Defense against AEAT information requests
• ✅ Tax optimization of your mining activity

Request your specialized tax consultation →

Our team of crypto tax experts will help you meet all your tax obligations professionally, efficiently, and with full legal certainty.

Unsure whether you must register as self-employed? Contact us for an initial no-obligation assessment.

Disclaimer: This article is for informational and educational purposes only. It does not constitute personalized tax advice or investment advice. Tax rules are subject to change and every personal situation is unique. Always consult a licensed tax professional before making tax decisions related to cryptocurrency mining.

Last updated: October 2025

Published by: Cleriontax Team – Experts in Cryptocurrency Taxation and Data Analysis