I Mined Bitcoin for 2 years (Honest Results)
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- Опубликовано: 5 фев 2025
- Over the past 2 years, I have spent $135,000 on 26 Bitcoin miners and they've made me about $230,000. Was this a huge mistake or is Bitcoin mining worth it? I break down all my numbers and what I would or would not do again if I got to do it over. ▼▼
➤This is where I buy and host my miners: a.ndy.fyi/Musk...
(Save $100 Per miner with code YOURFRIEND100)
➤Join Zzz Money Club (and get bigger discounts at Musk): a.ndy.fyi/ZZZ
➤EMCD Bitcoin mining pool (where I mine): a.ndy.fyi/EMCD...
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I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.
As a fellow home Bitcoin miner and additionally a customer’s of Blake’s I agree with everything you’ve said and would only add that the power bills are tax deductible and the machines can be depreciated over time which helps with profitability. Keep up the good work and Blake at Musk always says good things about you to me.
Great video sir. Good luck on your mining adventure.
I see what you did here..perfect timing 😎✌🏾
Happy accident! I recorded this over a week ago and I had no idea we'd be over $75K when this was ready to post. I'm not complaining though!
awesome video :) LFG Miners!
What a time to be a crypto miner!
Do you have any old mining gear for sale?
Im glad there is people that keep mining. Keep it up man. Ill just DCA because I just dont have the time to invest in mining. Its fascinating though and I truly believe Bitcoin could be the future of money.👍
Surprised this currently has so few views, all things the past few months considered
Ok now I want to say something. I am thinking about starting mining, and I actually live in a company accomodation, this means I don’t have any electricity bill to pay every month. Now the question is, can I just buy one of this mining machines and start mining at home? How can I check how much power is in the outlets?
Hey Andy! New to your channel actually came across this on Twitter. I just have a quick question. I see it currently costs $201.60 a month to run and host the Antminer S21 200Th which is 3500 watts. Which works out to 0.0576 usd instead of the 0.08 usd you mentioned in the video. You mentioned if they were a subscribers to zzz money club it would be 0.075 usd instead of 0.08. I’m just wondering what is the saving now and is that locked in? Or does it change month to month. Thanks!
Hey Tyler, thanks for watching the video. A big chunk of my machines have very cheap hosting because of bear market deals and my partnerships. My latest machines are at $0.075/kWh though which is the rate ZZZ Legendary members get. That rate is locked in for a year when you sign the contract. It doesn't change month to month, so you don't have to worry about that.
you are hilarious! great video
Buy a solar panel and a nice battery bank and run it at home.
A solar panel. Hmmm. It takes 75 panels to run a single asic miner.
@@TheShaggy1966 The S21XP mentioned in the video has a power consumption of 3645w, so nowhere close to 75 panels. more like some 15-20 panels, grid-tied, to run it "free" 24h.
@@DittersGustav The S21XP runs 3645w per hour! Some of the best panels today output 400w per hour at high noon. You need 10 panels just to cover it for 2-4ish hours during the sunniest of days. If 10 panels only power it for 2-4 hours, you probably want an extra 10 panels so you can fully power it for the 8 hours. (Accounting for clouds, dawn and dusk). That puts you at 20 panels to run it for 8 hours. You'll then need 3x the number of panels to fill up the hypothetical batteries so you can continue to use "free" energy running for the other 16 hours. That puts you at 60 panels for one machine if you don't want to rely on the grid.
Thanks for this as I have an option to do this and think hosting is a better option..
Thanks for the video Andy. Inspirational as usual! I got started in BTC mining almost two years ago in part because of your conviction and amazing videos.
I currently have five S19j Pro 104Th machines mining 0.005 BTC about every 14 days. I found it interesting that you are still running the same model machines in addition to some older and newer models. As we both know, there are many factors to how things will play out, but I'm curious - how long do you project we'll be able to run our S19j Pro 104Th machines at 0.08/kWh? I'm with you and believe the price of BTC will continue to rise. As that happens, I expect more and more newer gem machines to come online, impacting the profitability of our 104Th machines. Is your plan to keep mining with them until selling them in the bull makes more sense? A nuanced question I know but could use some advice!
Glad to here it! It's been an interesting journey. Some of my older machines have been technically running at a loss at different times in the past 6-12 months. I've been letting my profitable machines carry those older ones to make them all profitable in aggregate. I value BTC accumulation via mining vs through an exchange, so I am willing to pay a premium if I have to. As for how much longer I'll run them, that depends on what BTC does and what the machine values do. If BTC goes high enough and transaction fees do too, then demand on even older machines could skyrocket. If that happens, I will part ways with them. We're not there yet, but could be in 2-6 months (or maybe a little longer).
@@YourFriendAndy It's been a fun and interesting journey indeed. Really appreciate the thoughts on this. Very helpful!
That 4 BTC you mentioned that you could have bought instead. Does that include initial purchase 2.5 years ago as well as DCA monthly the equivalent you’ve spent in hosting and electricity?
Yep
How is it possible to mins 3.19 bitcoin if miners receive 6.25 bitcoin as a reward?
Don’t forget to mention taxes 😮 for example, in the uk the government will take 40% as taxes as its income
Where's your faith...
Based?
What rates are you running with being profitable with an S19 pro?
Hahahah 1 year later from the last video I commented on. Went from a random hat to a bitcoin hat.
Bitcoin went up. Now I can afford TWO hats!
@ I too search for bitcoin merch when I see number go up.
Do i just purchase them from Mush Miners and select the hosting option and they send me the hosting and power bill. I'm new to this and the website does not have a lot of detail or i missed it. Thanks for the great videos!
Reach out to them via email or text the phone number on the website. They'll give you the best/most up-to-date pricing that way and give you all the details about hosting. You'll likely talk to Blake or Oscar. Great guys!
@@YourFriendAndy work in Fla?
Are you using `mining pool or Solo` because if you first mine as a Solo you get 3.125 bitcoins am i correct ?
Your dreaming
@@y0usef-algeri0n No, Why ?
you are a legend
Thanks for watching!
I picked up 10 S21 back in March and I’m holding it for the next decade.
Bad idea
@@Sufferinwithmat
... 👀 N O
with the way the market is moving... gonna have to do weekly updates on this... i bet you are excited af
Pumped!
I have free électricité and hosting but low on budget how luky 😅
Can I ask what miners?…
I recently sold my s19’s and replaced them with L7’s.. better portability and stacking btc mostly with it 😂
I think S19s could still sell very well in the bull, but I also like scrypt mining. I'm going to buy an L9 very soon.
@ a part of me feels fomo with the s19’s, but lowering my hosting bill helped a lot so I’m glad I did it.. I’m also looking to get an L9 soon 😝
Simple dca strategy beats mining
Not definitively, no. Depends on the timeline, amounts, and a million other variables (many I cover in this video).
lol i just watch another video of urs .... u said u start crypto on 2017 .... now ur saying 2014
Both are true. I used to say I started in 2017 because that's when I basically went all-in with crypto. But my REAL first time in crypto was in 2014 when I built a LTC mining rig in a milk crate. I also bought my first bit of Bitcoin in 2014. But I gave up on crypto later that year and didn't get back into it until the end of 2016/beginning of 2017.
But what if Bitcoin fails
Then I make nothing?
No risk, no reward.
Then you wait till it rises again. It always falls and rises, falls and rises. Like every share and every other currency does. It's a process. But it will not go away, cause it's a currency.
LOL, good one.
@@Bruce-The-Firsthe meant fails, as in, goes away for good, not just drops. And it's past the point of failure
@@russbilderback I see. But yeah that won't happen even less. Except the whole world would be nuked. =)
People with the "herp derp DCA aall the time" lol, this is so different and we aren't even in the same universe.
Why have a part explaining what BTC is? If they don't know what it is, they need to go somewhere else. Everything in life can't always be defined by the lowest common denominator.
This is a comment on RUclips.com, which is a place on the internet where you can watch videos about almost anything, like cartoons, animals, or people playing games. You can also make your own videos and share them with others. Which if you don't know what a comment is, an internet comment is like a little note people write under videos, pictures, or stories to say what they think. It's like talking, but with words on a screen!
That's a lot of Bitcorn! Well done sir 🫡