Multiple Wallets and Revenue Splitting per Mining Location

Summary:

Currently, it's not possible to assign multiple wallets to a single mining location or split revenue between different stakeholders directly at the location level. This creates difficulties in managing profit sharing with location owners and regional partners, and also complicates tax reporting when needing to separate income streams for specific locations involving third parties.

Problem Description:

1. Complex Revenue Sharing: For users with multiple miners and partnerships, there's a need to distribute mining revenue among various parties (e.g., miner owner, location owner, regional partner) based on pre-defined percentages. The current system, allowing only one wallet per location, makes this process manual and cumbersome.

2. Taxation and Income Separation: When a location owner is involved, it's desirable to have separate wallets to clearly distinguish the miner owner's taxable income from the location owner's share. The inability to add a second wallet for the same location for this purpose is a limitation.

Proposed Solution:

Implement the ability to associate multiple wallets with a single mining location. For each location, allow users to:

• Add Multiple Wallets: Enable the creation or assignment of more than one wallet to a specific mining location.

• Define Percentage Splits: Allow users to specify a percentage of the mining revenue to be automatically distributed to each wallet associated with that location. The sum of these percentages for a single location must equal 100%.

Use Cases:

1. Three-Way Revenue Split:

   • Scenario: A miner owner has a regional partner who finds locations, and there's also a location owner.

   • Desired Outcome: For a specific mining location, create three wallets with the following revenue distribution:

     • Wallet 1 (Miner Owner): 50%

     • Wallet 2 (Location Owner): 25%

     • Wallet 3 (Regional Partner): 25%

2. Two-Way Revenue Split for Tax Purposes & Location Owner Payout:

   • Scenario: A miner owner needs to pay a percentage of the revenue to the location owner and wants to keep their own share in a separate wallet for clear tax reporting.

   • Desired Outcome: For a specific mining location, create two wallets:

     • Wallet 1 (Miner Owner - Tax Location Wallet): 70%

     • Wallet 2 (Location Owner): 30%

Benefits:

• Simplified Revenue Management: Automates the process of splitting profits among multiple stakeholders.

• Improved Transparency: Clear allocation of funds for all parties involved.

• Easier Tax Reporting: Facilitates the separation of income for tax purposes.

• Scalability: Makes it easier to manage an increasing number of miners and complex partnership agreements.

Potential for Quick Implementation:

The user believes that allowing multiple location wallets for a single location might be a relatively straightforward feature to implement.