GST/HST Notice No. 324, Proposed Amendment Addressing Mining Activities in respect of Cryptoassets, February 2023
Mining activity includes executing proof-of-stake protocols and use of mining equipment (under “What is a mining activity?”)
The definition includes under paragraph (a) validating transactions and adding them to the publicly distributed ledger. The validating of transactions may be performed by any one of the various methods that cryptoasset networks use such as those that are commonly referred to as proof-of-work or proof-of-stake protocols. In addition, paragraph (c) of the definition would include, for example, a person that allows another person to use their equipment to carry out the validating of transactions and adding them to the publicly distributed ledger. In this case, both persons would be performing mining activities.