Mine it,
or buy it?
Why serious capital is producing Bitcoin instead of buying it. 14 pages on power economics, equipment treatment, and the numbers that actually decide the outcome.
PDF · 14 pages · 356 KB · Free, no signup
Operating since
2021
US states
5
Units deployed
10,000+
BBB rating
A+ accredited
A free guide from
Pickaxe Mining
Mine it,
or buy it?
Why serious capital is producing Bitcoin instead of buying it.
pickaxe.io
There are only two ways to hold Bitcoin.
- You spend after-tax dollars
- You pay whatever the market asks that day
- No deduction, no depreciation schedule
- One asset, sitting still
- You buy business equipment, not coins
- Section 179 and bonus depreciation are on the table
- Coins arrive daily at your cost of production
- You own the machine and the Bitcoin it makes
Same goal. Completely different balance sheet.
Three numbers decide everything.
Price per terahash
Buy the same machine 10% cheaper and every coin it ever mines costs 10% less to produce.
Price per kilowatt hour
Power is the largest ongoing cost, and it is not close. Nothing else you optimize matters as much.
Hours actually hashing
A dark machine earns nothing. Uptime is an operations discipline, not an afterthought.
If someone is selling you mining and is not talking about all three, be careful.
14 pages, no filler.
Written for someone deciding whether to put real capital into production. It includes the parts most operators leave out.
Download nowThe choice
The two ways to hold Bitcoin, and why they land differently on a balance sheet.
Why it matters
Automatic averaging, deductible property, two assets instead of one, no middle layer.
The mechanics
How mining actually works in six steps, from sealing a block to the halving.
The whole game
The three numbers that decide every outcome, and how to spot who is hiding one.
Power economics
Why a machine that prints money at eight cents can be underwater at eighteen.
Hosted vs at home
Same machine, two outcomes: power, setup cost, noise, repairs, and scaling.
The structural edge
How the tax code treats a buyer of coins and a buyer of equipment differently.
The Pickaxe system
Source, structure, deliver, power, operate, collect — the whole path as one system.
The part nobody prints
Difficulty, price, hardware retirement, and grid risk, stated plainly.
The risks, stated plainly.
Any operator who will not put this in writing is not one you should wire money to.
Difficulty rises
As hashrate joins the network, your share of daily production falls. This is the design, not a maybe.
Price moves hard
Revenue is denominated in Bitcoin. Nobody, including us, knows where the price goes.
Hardware retires
Newer machines make older ones uneconomic. Working life is measured in years, not decades.
No guarantees
We do not promise production, profitability, or any return. Neither should anyone else.
We would rather lose a sale than have you buy this without understanding it.
The next step is a conversation, not a purchase.
Bring your power situation, your budget, your entity, and your timeline. We will build the real numbers with you, show your CPA what they need, and tell you honestly if mining does not fit.
Educational only. Not investment, tax, or legal advice, and not an offer to sell a security. Mining hardware is equipment; Pickaxe does not pool funds, manage assets, or promise profit. Section 179 and bonus depreciation treatment depends on your circumstances and current law — consult your own advisors. Figures and calculators are illustrations, not forecasts. Mining involves substantial risk including loss.