A cryptocurrency trader would need account for his/her cryptocurrency as a commodity (similar to home, car, etc.), however, for cryptocurrency miners, their cryptocurrency will be categorized as an inventory.
If you are in the business of mining cryptocurrency, the value that is mined will be dealt with as “inventory”. As per International Accounting Standards (IAS) 16, inventory is defined as assets held for sale in the ordinary course of business. At the end of the tax period, the crypto miner will have to assess the value of the inventory and review whether a write down is required, as inventory is to be recorded at lower of cost or market value.