All Articles    |    Updates from Blox    |   CPA    |   Company News    |   Crypto Projects    |   Crypto Tax   |   Industry News

Crypto Management & Accounting for Crypto Miners

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on telegram
Share on email
Share on whatsapp

Most amateurs, professionals and businesses that own or operate with cryptocurrencies understand the complexities of tracking, managing and accounting for their digital assets. For today’s crypto mining companies of the world – the core infrastructure that underpins blockchains – they face a distinctly complex set of challenges.


The Blox platform is the all-in-one platform providing intuitive features to support the unique tracking, management and accounting needs of today’s crypto mining companies and operations. Crypto mining requires a similar set of services as other crypto companies such as, calculating cost basis, snapshots of daily balances, tracking assets/income and synchronizing with relevant blockchains, wallets and exchanges.


But mining operations are far more intricate and unique. They must be able to view the balance and value of all their mining production in real-time, across many blockchains, wallets, and mining pools. The wild web of tracking so many variables across the blockchains is difficult to navigate through. Yet, the difficulty keeps increasing. For instance, cloud-hosted mining rigs which operate remotely from smaller organizations across the world. Crypto mining companies require tracking for how much crypto has been generated,  the ability to calculate payouts and to view accurate account balances at any given moment. 


As a platform built to serve each specific vertical from professional investors, crypto-focused businesses and enterprise-grade company’s, Blox was built with crypto mining in mind.


It all begins with our smart features:


Real-time Blockchain Nodes


Blox runs our own nodes on 13 different blockchains, which provides miners with more tracking options, should they wish to select a particular blockchain to mine and track balance, revenue and asset movement. Some services only have access to only Bitcoin or Ethereum nodes, but with Blox, they can easily track their mining income from NEO, Litecoin, Stellar, Tron, Dash and other leading blockchains with ease.


Smarter Snapshots of Daily Balances


Blox’s intuitive snapshot feature and can display a companies asset balances across all the different blockchains currently being mined for. Users can take advantage of specific filtering options to narrow down results. They can also rely on our end of day, end-of-week and end of month snapshot options to get a clear and accurate view into your cryptos performance, value and for reconciliation.


Cloud-Hosted Mining


Unique to our platform, miners are capable of tracking how much crypto is being mined from cloud-hosted mining rigs, and its real-time value or within any specified dates. Blox takes organization to the next level by providing mining companies with the ability to build, organize and segregate portfolios based on each cloud-mining customer. This provides smarter categorization and an easy ability for bookkeepers to work on each individual customer account.


Intelligent Account Structure


Blox’s proprietary ‘Chart of Accounts’ logic is highly intuitive, capable of separating mining income from other various mining pools. Additionally, the platform can auto-categorize the source of any income stream. We save businesses a tremendous amount of time that is normally spent reconciling accounts, portfolios and the source of where crypto was generated.


An Industry-Leading Platform


The Blox platform is already helping some of the world’s largest crypto mining companies, such as a 55-megawatts capacity mining operation with the ability to mine around 100 BTC per-day. The sheer volume of clients, transactions, blockchains and intricate tracking factors highlights the prowess of the Blox SaaS solution.


Blox is no stranger to traditional crypto accounting and bookkeeping too. Some of our customers like eToro, TenX and 0X have over 3-billion in AUM being tracked and managed with our Blox platform. We work with some of the world’s most popular exchanges and wallets including, Coinbase, Binance, Jaxx, MetaMask and many more.


Features Built Just For You


Blox empowers accountants, bookkeepers and finance teams with a robust tool set of features built just for you, the crypto miners of the world. The Blox platform makes tracking, managing and accounting easier than ever before.


  • Auto-Sync –  Seamlessly sync the top blockchains, exchanges, and wallets – all in one easy-to-use platform. Blox’s proprietary API technology automatically aggregates and syncs user data to offer unparalleled accounting, bookkeeping and financial reporting tools to help businesses and professionals maintain their company’s crypto financials.


  • Audit Trail – Blox simplifies the ability to backtrack the movement of transactions to allow finance teams to discover errors, prevent fraud, track asset movement and generate required financial reports. Blox aggregates your data and even offers the ability to attach supporting documents for accounts, transactions and reports.


  • CSV Export/Import – Easily export your financial information into a CSV for easy viewing, reporting, or to upload into your general ledger or bookkeeping software. Blox is also introducing importing from other exchanges and GL’s into the platform.


  • Cross-Platform Access – Login to Blox on the web or via the Blox mobile app, making it easier for you to access account balances, transactions, reports and more from your laptop or smartphone. Never lose touch with your accounts with our cross-platform access and compatibility.


  • Real-Time Collaboration – Enable your teams with the ability to collaborate, share projects, and complete reports in real time. Share your portfolio with C-level executives, CPAs, auditors, and more, with enhanced permission controls for authorized access.


  • Security & Privacy – Blox is armed with smart security features to ensure your private information stays private. The platform is enabled with Touch ID, distributed admin privileges, and read-only access to provide a one-way window into your crypto accounts. Blox also offers custom security solutions for select customers.


Crypto mining operations is the heart of the blockchain ecosystem. They see exceptionally large volumes of transactions, asset movement, and dozens of external factors that are always in motion. The Blox platform has been designed from the ground up to be robust, flexible and feature-rich. With every feature and tool designed to suit a specific industry vertical, with the ability to continue tracking and managing assets at scale. At the end of every day, your assets are in good hands with Blox, a platform you can count on.


Ready to stake with Blox?

Introducing Blox Staking, a new service offering non-custodial staking for Ethereum 2.0.