Cryptocurrency mining rigs sit on racks at a facility.

Viewpoints (Auditing crypto-assets): Auditing mining revenue of entities engaged in crypto-asset mining

Read this FAQ to learn about considerations when auditing crypto-asset mining revenue and check out the illustrative examples included in the appendix.


As the crypto-asset market continues to expand, it has highlighted challenges for auditors in obtaining assurance over this complex asset class. This FAQ aims to answer some key questions specific to auditing revenue at a crypto-asset mining entity. This non-authoritative guidance can be applied to companies running their own mining operations, or to miners participating in a pool.


In this FAQ, you will learn:


  • Why can auditing a crypto-asset miner be difficult?
  • When looking for an audit, what can a crypto-asset miner expect from the auditor as they undertake their client acceptance procedures?
  • Since the transactions are recorded on the blockchain, can the auditor simply place reliance on the blockchain itself?
  • Can the auditor rely on transactions that are confirmed with the mining pool?
  • What are some of the types of controls, including GITCs, that the auditor may be interested in understanding and testing?
  • What controls are generally necessary over the physical mining assets?
  • What are some of the additional considerations when the crypto-asset miner hosts machines for third parties?

Check out the appendix of this document for two illustrative examples of substantive analytical procedures that an auditor may prepare when auditing mining revenue. These examples show varying levels of complexity to illustrate inputs that may be required in developing procedures. Keep in mind that the appropriateness of audit procedures depends on the individual facts and circumstances of the entity and audit risks, and the approach should be tailored accordingly.