These Bitcoin Miners Make $72,000 a Year
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- Опубликовано: 23 янв 2024
- I spent $123,000 on 20 Bitcoin miners and 35 mining NFTs, and they've made me about $103,000. 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/MuskMiners (Save $100 Per miner with code YOURFRIEND100)
They have a 1yr warranty with all equipment and have 98% uptime guaranteed.
From the moment you purchase, you can be up and running in as little as a day.
➤Fraction Mining NFTs: a.ndy.fyi/FractionMining
➤Alpha Shares Mining Co NFTs: a.ndy.fyi/AlphaShares
➤LinCoin Bitcoin Mining Pool where I mine: a.ndy.fyi/Lincoin
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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. 
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➤This is where I buy and host my miners: a.ndy.fyi/MuskMiners (Save $100 Per miner with code YOURFRIEND100)
➤Try Zzz Money Club for FREE (7-day trial): links.zzzmoneyclub.com/SignUp
Great video Andy! It's exciting to see your Bitcoin mining progress!
Thanks for watching GGM!
Great video Andi! Would be interested what one machine is making is making you in terms of BTC what your ROI is on a machine like the Antminer S19K Pro 120Th/115Th/110Th
?
Love your videos Andy!
Thanks for watching!
Good for you my man ANDY 🎉🎉🎉
Thanks for watching!
Andy hi, how do you get paid? For transaction added to the chain, I suppose you earn a fraction of a bitcoin. So I assume there must be a site where you can see your bitcoin account balance. Sorry just trying to get my head around this.
Love this video. I'm mining BTC on my pc. I have 4 GPUs going. Thinking to buy one of the miners soon.
Very cool. Yeah, a big ASIC can be a fun one to add.
Summer of 22 bitcoin was in the low 20's. So the first mining purchase should of bought 2 plus bitcoins, so that was only 53k, I think you should have more now than a year after halving so it is a long term thing
I paid for my first machines towards the end of May 2022. BTC was still over $30K.
Question, what camera are you using?
Sony A7C
With the halving coming up do you still think a 120th unit being hosted is still worth investing in?
If the price and mining difficulty are roughly the same at that time as they are today, you will be losing a bit of money each month if you keep mining. HOWEVER, longer-term, those machines are likely to be very profitable again. But I think a really interesting opportunity will be flipping the machines in the middle of this next bull run. I imagine the 120T units will be popular. All speculation of course. No way to truly know until all this happens.
Quick question, how much of the btc you mine do you reinvest into new miners aka sell. 25%?
I don't touch any of my BTC I mine. I either use new money I move into crypto or I use my other passive income sources to fund new machines (most common thing I do).
I’m a miner myself, out of curiosity why do you decide not to expand your computing power more aggressively especially since we are near all time lows for miner prices and we all know that the valuation for the miners will significantly outperform bitcoin itself while generating more coins per day for you, would it not be more profitable to aggressively dump the coins into more machines? Just curious as to the thought process, risk mitigation?
@@leapinglegend3164 Risk mitigation is a big one. I just don't want to touch my main BTC stack. It's my portfolio's foundational layer. Also, I've invested a lot of money into BTC mining already (at least for me), so I wan to balance where money goes. There are lots of crypto plays outside of BTC that my money goes towards. Plays that I think could far out perform BTC and end up getting more BTC and more profits into my pocket. It's just a constant battle of what takes priority.
@@YourFriendAndyI totally understand where you are coming from. Either way if we do get the magical bull run that we both expect you won’t be disappointed with either option so cheers to making money and a great 2024 and 2025 🥂keep up the great content too very informative and entertaining especially to the newbies of mining 👍
Hi I have question I have no idea how to get started can you please give me a idea how much money should I start with will $5000 be good or we need more to get started thank you
Start with $5 Million
I might buy some soon but I gotta see how much I can cause I’m broke 🤧
Nicehash says at my current electric price of 0.18 USD/kwh with a BITMAIN Antminer S19J Pro I'd be losing making 10.00 in bitcoin but using 13.25 in electricity per day. So I'm looking at that and thinking to myself I'm losing roughly $100 each month. Are you able to explain where I would get my ROI on the bitcoin or point me in the direction of a video? thanks
$0.18/kWh is pretty expensive. I'd recommend hosting. Musk Mining will charge you $0.08/kWh.
At your electric rate you'll be losing $101 a month. At the Musk rate you'd be profiting $128 a month. Big difference!
I have another mining video coming out thursday or friday.
I’m glad people get involved in this stuff makes my life easier.
lol how am I making your life easier, Kenneth?
The problem with mining is the falling hash rate. So what you made last year doesn't mean you will make that this year.
Another thing to consider is whether the coin value with go up or down im the future. That's the X factor in this equation plus the falling hash rate. And you won't make back 100% on your hardware because most of the hardware will be unprofitable at that point, so no you will probably lose all your hardware investment as well
My projections include hashrate/difficulty increases, but yes, that is definitely a consideration.
Yes all this depends on BTC price, but I'm willing to be that 2024/2025 will be VERY strong years for BTC. So mining going into the bull run seems like a very profitable endeavor to me.
Your hardware assessment is very likely wrong. Each previous cycle, even multiple-generation-old hardware appreciates in value from it's bear market lows. I cannot imagine a world where buying machines now doesn't make you money on the arbitrage (espeically s19k and s21 units) in the next year or so. Just look at the bear market hardware prices of the last cycle vs their bull market prices (S19 at $2k in bear and $20-25K at peak bull). I made a LOT of money on hardware arbitrage last cycle.
@@YourFriendAndy good to know: I’m still learning about mining so thanks for the great videos and feedback: and yes I defer to your expertise on the subject. I’m subscribing to your channel as well. Thanks Andy and keep
Mining my dude!
@@erivers71all good questions! This is all an experiment, so I don't know the outcome yet. I'm just operating on the best assumptions I can make right now without knowing the future. Who knows how it will all ACTUALLY turn out. Appreicate you watching!
Jesus I tried watching this in my garage but all I can hear is Brrrrrrrrrr!
But I do realize they are the juice that makes all of this work so it is what it is! 🙏🏽
If i make enough profits this bull run im jumping in on the mining bandwagon and ill custom build my own renewable energy, energy storage and high efficient passive cooling mixed with high efficiency refrigeration ⛏️ 🤞
Wish I had that much to spend.
Go get it!
@@YourFriendAndy lol
It almost makes more sense to go to an exchange and buy $120k of bitcoin, right?
Depends on your goals and what you think the outcome of mining will be
Have you heard about the $6k passive income? Yeah, it depends on your goals. Achieving this could mean breaking free from the 9-5 grind, as wealth equals freedom.🎉😅
I still don’t understand how this machine money is sustainable 😅
ur late to the party, learn n put time n effort into learning, instead of blaming the machines
@@jqjq1796 I didn’t blame
Teach the man. Its your job to educate people. In simple terms its hash(electricity) to solve and secure transactions on the internet (block)of bitcoin. With each transaction solved the system rewards you for the security and electricity. Take into account the volatility of price and market movements. And if you do your research and are good at it. You make profits (passive profits). But do research a lot before you get started.
I pray to have cash and start something important someday Andy
Don't pray. Do some side hustles. That's what I did when I was broke. I gave up all my extra time I wasn't at my main job and worked my ass off! Paid off now.
this guy going to be loaded. took a chance
0:31: 💰 Mining Bitcoin has generated a passive income of $72,000 annually, despite the initial investment and days of mining.
3:05: 💰 A detailed account of Bitcoin mining machine purchases and investments, including NFTs and shares, with varying prices and potential returns.
6:28: 💰 The Bitcoin mining experiment has been profitable, with potential for significant USD earnings and hardware arbitrage.
9:02: 💰 Impending Bitcoin halving may lead to short-term mining losses, but historically results in long-term value increase.
11:36: ⛏️ Effortless Bitcoin mining with hardware and hosting services, providing cheap electricity rates and facilitating machine selling or mining.
Recapped using Tammy AI
What does that prof? That even idiots can become rich.
I'm making money moves and making even more money as I share those moves in videos. You're just commenting on my videos. Who the idiot is in this situation is debatable lol
1st
🏆
Bitcoin minors have too much power. We agree on one price as the mining fee and they charge what they want to charge and take as long as they want to take. I have nothing good to say about them.
hi andy can you please give us an update on your alpha mining investment ? is it legit and still running ? is it worth it ?
Yeah, they are doing great. Been paying out regularly. I will do an update and overview video on them when they are ready to launch their next round of NFTs.
@@YourFriendAndy Thanks for the reply Andy, always find your vids interesting and full of new info n knowledge, I'm saving up to get started my btc mining, a new video on how to start a mining with some suggestions will highly be appreciated, I'm thinking of starting with alpha share but not 100% sure, alpha mining have very few updates on the project since the launch, im eagerly awaiting an update video on alpha share mining. all the best my friend.