Crypto & Digital Asset Taxation in Norway: Mining, Staking, and NFTs

As cryptocurrencies and digital assets gain popularity, Norwegian taxpayers are facing stricter tax rules. From crypto mining and staking rewards to the booming NFT market, the Norwegian Tax Administration (Skatteetaten) requires detailed reporting on all digital asset activity. This blog explains how crypto taxation works in Norway in 2025 and beyond.

📌 How Norway Classifies Digital Assets

In Norway, cryptocurrencies and NFTs are treated as capital assets, not currency. This means:

• Buying and selling digital assets triggers capital gains tax.
• Income from mining or staking is considered taxable personal income.
• All transactions must be reported in Norwegian kroner (NOK), based on the exchange rate at the time of the transaction.

💰 Mining Cryptocurrency in Norway

If you mine crypto in Norway, the value of the coins received is taxed as personal income at progressive bracket tax rates. Social security contributions (7.8% for employees or 11% for self-employed) also apply.

Key points for miners:

• Electricity and equipment costs may be deductible if mining is considered a business.
• Hobby mining with small profits may still trigger taxation if regular income is generated.
• When mined crypto is later sold, capital gains tax (22%) also applies on appreciation in value.

🔗 Staking Rewards & Yield Farming

Staking and yield farming rewards are considered taxable personal income when received. The following applies:

• Rewards are valued in NOK at the time they are credited to your account.
• Later sales of the staked tokens are subject to capital gains tax (22%).
• If you reinvest staking rewards, keep precise records to calculate gains later.

🎨 NFTs (Non-Fungible Tokens) in Norway

NFTs are treated as digital assets. Taxation applies when:

• You sell an NFT for a profit (capital gains tax at 22%).
• You receive income in the form of NFT royalties (taxed as personal income).
• You trade NFTs frequently, which may classify you as a business trader subject to higher scrutiny.

Losses on NFTs may be deducted if they would have been taxable as gains under the same conditions.

📊 Example Tax Calculation

Let’s say you mined crypto worth NOK 50,000 in 2025:

• Personal income tax and social security: ~30–35% (approx. NOK 17,500).
• Later, you sell the coins for NOK 70,000 → capital gain of NOK 20,000 taxed at 22% (NOK 4,400).
• Total tax liability: ~NOK 21,900.

✅ Record-Keeping Requirements

Skatteetaten requires taxpayers to keep detailed records of:

• Dates and amounts of all purchases and sales.
• Exchange rates used at the time of transaction.
• Details of mining/staking activities, including electricity costs and pool fees.
• Wallet addresses and exchange statements.

⚠️ IRS Focus Areas in 2025–2026

Norwegian tax authorities have announced a special focus on:

• Unreported staking rewards and mining income.
• Large NFT sales not declared in tax returns.
• Crypto-to-crypto trades where no NOK was withdrawn but taxable gains occurred.
• Transfers to foreign exchanges without reporting.