Do crypto miners pay tax in the UK?

When it comes to the question of whether crypto miners pay tax in the UK, it begs a rather intricate inquiry. The landscape of taxation for digital currencies and the activities surrounding them, such as mining, is constantly evolving. Given the novelty of cryptocurrencies and their decentralized nature, there's a lack of clear-cut legislation outlining specific tax obligations for miners. However, it's generally accepted that any income derived from mining cryptocurrencies, such as Bitcoin or Ethereum, is subject to taxation if it's deemed to be a source of income by the HMRC. This begs the question: how does one accurately calculate and report such income for tax purposes? And, furthermore, are there any specific exemptions or allowances for crypto miners in the UK? These are the key considerations that arise when delving into the taxation of crypto mining in the United Kingdom.