Crypto Mining Firms Lead with ASU 2023-08 Adoption.

  • Published In: Strategic Finance, 2025. P. 1 1 of 3

  • Database: Academic Search Ultimate 2 of 3

  • Authored By: Oz, Ibrahim O.; Tang, Jenna J.; Gambel, Austin 3 of 3

Abstract

The article discusses the early adoption of the Accounting Standards Update (ASU) 2023-08 by U.S. crypto mining firms, which mandates the measurement of certain crypto assets at fair value and the recognition of changes in net income each reporting period. Effective for fiscal years beginning after December 15, 2024, this standard replaces the previous cost-less-impairment approach and aims to enhance the relevance of accounting information for crypto assets. The analysis highlights 11 early adopters, primarily large firms, detailing their adoption timelines, financial disclosures, and the impact on earnings and stock performance. It also addresses the challenges and implications of the new standard, including increased earnings volatility and the need for firms to prepare for compliance and disclosure requirements. [Extracted from the article]

Additional Information

  • Source:Strategic Finance. 2025/09, p1
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2025
  • ISSN:1524-833X
  • Accession Number:188167774
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