Interesting thread. One thing I was considering is starting an LLC for to operate BitCoin mining rigs under. I have a few other business ideas that I have been floating that could operate under the same LLC and if it worked I would be able to separate my personal finances from the LLCs I then give myself a salary (in the off chance I actually made money). I doesnt cost much to start an LLC and it offers some protections from taxes and liabilities. For instance all your equipment and power investment can be written off as a loss. You can also write off the deprecation of your equipment as it ages. I have no idea if any of this is relevant or even worthwhile, its just something that was rattling around in my head.
I think this is a great idea!
Why give a state more of your hard-earned money when they have their hands in your pockets anyway‽