I did invest in a mining company in the USA. The miners are my property. For the operation i do no work, nor i have influence on max mining profit as i prefer. Therefore i see myself as an abroard private investor.

For the upcoming year i want to registrate myself by the IRS with a ITIN number and use that to declare longterm gaining (form 1099) over my investment. So no daily mining income, no shortterm gainging, no LLC, no self imployment, just a invester.

Does somebody know if this is the legal way for longterm mining investment?

Ps. Dont awnser to quickly like mining is ordanry income, so not possible. I like professional experencied awnser on declarance as any other raw material investment.