My $50,000 Bitcoin Mining Investment

My $50,000 Bitcoin Mining Investment

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Description: In this video, I go over, “My $50,000 Bitcoin and Crypto Mining Investment” and why I believe bitcoin has a bright future in the realm of currency and as a store of value. I also go into why I have over $45,000 invested into crypto between owning over 1 bitcoin and why I am setting up an Antminer KS1 to mine crypto in my basement. The antminer ks1 mines a coin known as Kaspa priced at 0.11 per coin. This machine is estimated to pay out over $300 in monthly profits. If you guys enjoyed this video and would like to see a part 2 where I mine, “Crypto Altcoins For 1 Week” please drop a like! 3,000 likes and I will make it happn.

Inspired by Financial Wolf: I Bought My First Bitcoin Miner

Bitcoin is possibly one of the greatest Financial inventions of all time that has the potential to change our monetary system and global economy forever and in this video I’m going to reveal to you my $50,000 Bitcoin investment between buying the currency a lot and Mining it with these Asic s19 computers it’s

Really loud in here but first what is a Bitcoin and why is it so valuable today it’s not something you can physically hold but it’s making people rich and to explain why I drove out to rule Iowa to tour $20 million hosting fac fac so today I’m here with JP at the first

Bitcoin mining facility you ever started now before getting into stuff like this you said you used to mine ethereum on gpus back in the day could you get into a little bit about that story on how you got started with mining in general so I started off by raising $100,000 from

Family and myself and we bought a bunch of GPU miners 300 graphics cards we were running those in Graham North Carolina in an old yard Mill it was a great time we were mining 500 ethereum a day but we were selling that ethereum for only a

Few dollars a piece to pay our power every month and to pay our investors if we would have held on to that ethereum it would have been worth over 500 Grand a day worth of mining profits that’s why Capital allocation and how you manage the capital during the mining is so

Important and how many years did it take to go from mining ethereum to doing this current operation today and starting this Bitcoin M the AUM mine started in 2016 so 3 years to get from that to this operation we had a few other projects we were doing with people like Tula

California working with a solar farm out there stuff in Oklahoma stuff in New York and then eventually we found us this spot in Iowa this one acre piece of land and we built this nice red building behind me we ended up having to borrow from my family’s apartment buildings and

Office space lent against that to buy the land to build the infrastructure and then we needed a lot more money I was like crap I need more money to finish this project to expand to get more cash flow I had my parents lend against their house so they lent against their house

And they were able to help fund this facility here and that got us through from 2019 to 2020 2021 and then this facility became full and we looked for another one and we expanded 45 minutes away at the St Anthony facility that we showed you fill to the brim with Bitcoin

Miners the owner JP is mining upwards of one Bitcoin per day between four active facilities right around one Bitcoin a day which is you know pretty significant for a company ourselves been a journey and we’re growing the amount of megawatts and hash rate and just always getting there to mine one Bitcoin it

Takes 330,000 KW of energy that’s 4.3 kg of gold production 37,500 L of Patrol and enough power to Electrify 667,000 African homes but a Bitcoin wasn’t always so hard to get 10 years ago you can mine multiple coins every single day priced at just $70 each Bitcoin was worth 1,000th of the price

That it was in its peak in late 2021 and I still think it has a lot higher to go but before I break down why as we go outside the house you guys can see we got a package and inside it is a crypto Miner that we’re going to be unboxing so

This machine isn’t exactly a Bitcoin miner it’s supposed to mine a cryptocurrency known as Caspa which is one of those all coins so let’s go ahead and open this box up baby so they sent me a really cool crypto Miner let’s go so this is a ks1 this

Thing looks sick I’m honestly so excited for this machine guys because unlike my other machines which are at JP’s facility this one right here is going to be mining at my house and more specifically we’re going to be mining in this super Dusty garage this place needs

A lot of work I already have two Asic s19 Pros running at JP’s facility which are worth about $5,000 and then this machine down here that’s going to be running in my garage cost about 2,700 bucks but thankfully I got it for free from my friends over at Asic

Marketplace.com they are a website that offers all sorts of different Asic miners for machines from Bitcoin mining to Dogecoin mining for machines for altcoins like Caspa which is what this machine in front of me mins Caspa is a crypto altcoin with a huge loyal following particularly of people on

Reddit who think it has great Tech and it Bridges all of the gaps in the Bitcoin system and many of those same people on this Reddit thread think that when the next Crypt Bull Run happens that Caspa might 100x you guys have to keep in mind though that Reddit isn’t

Necessarily the right place to go for crypto advice but when this machine starts mining it’ll cost $144 daily in electricity cost and in turn the machine will mine a little bit over 104 Caspa daily or about $11 at its current price point that’ll leave me

With a profit of a bit over $300 monthly that said though the price for Caspa has gone on a huge run over the last few months so it’s only going to be this profitable if the price stays that high but unfortunately guys there’s yet another issue this machine needs a 240

Volt Outlet to run and when you go inside the garage you guys can see we don’t have any of those we’ve only got the standard 120 volt outlets and a 240 volt Outlet isn’t exactly cheap to install I just looked it up online and it looks like it’s going to be pretty

Expensive but we have an electrician coming later today to start the process of installing one but shout out Asic marketplace.com for sending me this free Miner it’s the only place I’ve been buying my crypto miners from so be sure to check them out at the top link Down

Below in the description and for the holidays they’re doing $70 off any machine but on that note guys when we go downstairs you can see the 240 volt outlet has officially been installed I ended up having to put the outlet in my basement since it’s closer to the

Control panel over there but while we wait to order some additional supplies to get this minor running let’s flash back to my trip to Iowa touring some of JP’s facilities we are now pulling up on yet another Bitcoin mining facility this is a new one too right I don’t think

I’ve been here this one was built this year it’s going to be fun let’s go check it out this location cost roughly $1.5 million to set up that included two Transformers for $75,000 a piece two switch gears for around 45,000 16 pods for around4 to $50,000 per pod then all

The electrical work to connect the pods together to do the underground conduit from the Transformers to the switch gear where the energy goes underground the concrete pads the gravel the dirt work and the work trailer all are monthly expense or had an upfront cost this site has two internet connection connections

Both starlink and fiber running to it last year when I was out here Bitcoin was at $166,000 a coin and today it’s at $40,000 a coin how does that change the landscape for mining so at $166,000 a coin we’re running the operation in a very low cost mode we have maybe less

Technicians per facility we’re trying to save expenses we can because the profitability is really low and it’s it’s horrible when it’s at 44,000 we’re doing the exact opposite we’re hiring more people we’re building out new infrastructure we’re deploying more facilities pouring concrete in the so the bull market definitely brings

Rejuvenation in the space and in Bitcoin mining we see about 2 years of up and then two years of down so we just got through with a 2 years of down and now we’re in the two years of up market and everyone’s kind of preparing for the for

The Bitcoin mining having which happens every four years which causes the price to go up and affects that the price movement the Bitcoin having is coming up in April of 2024 and from the outside this may seem bad for Bitcoin mining as you’re mining half as much Bitcoin for

The same amount of machinery and overhead expenses but what tends to happen after Bitcoin having is caus a shortage of Bitcoin on exchanges and with the same amount of demand that drives the price of Bitcoin up there will only ever be 21 million Bitcoin and every four years half as many Bitcoin

Are released into circulation so unlike the dollar Bitcoin is a deflationary asset with a cap Supply and less and less being produced over time it also can’t be manipulated by clueless politicians who don’t understand how Economics work do you have any price predictions for Bitcoin during this next

Having I think Bitcoin will hit over $250,000 before the end of 2025 and would you sell at that point or that just depends yeah I definitely want to take some money off the table during the price rise as it’s dramatically going up but you don’t want to take money off too

Early and with the environment of the dollar becoming worth less and Bitcoin becoming worth more and the ETFs potentially coming out it could blow past that number so it’s important that you know just like allocating Capital you’re allocating strategically over a set period of time you want to sell

Strategically over a set period of time don’t dump all your coins in one day sell over a few months now my $50,000 Bitcoin investment is Diversified between owning an entire Bitcoin and also have having about a $5,000 investment into Bitcoin mining it took me years and years to get to this point

And my investment in Bitcoin constitutes between 20 and 25% of my net worth so this investment is no joke and if you look at my reasoning why a $30,000 salary in 1980 is equivalent to $160,000 in purchasing power today the wages are not keeping up with inflation and that’s

Due to the mismanagement of our currency just in the last few years trillions and trillions of dollars have been released into our economy and I think Bitcoin is not only a hedge to this but a solution so going into 2024 and 2025 I think this investment is going to play out very

Well we are now pulling up to Bitcoin mining operation number three and you guys can tell here it’s still under construction right JP distribution unit right here this unit supplies power from a switch gear which comes from in here these long bus bars you know these metal

Bars that move the power into these units then each one of these breaks down to a breaker each breaker Powers one machine and has a plug on the side where you plug in the power cords there’s 48 plugs on each one of these each machine

Will go up against the back wall here so these pods range anywhere from let’s say $60,000 and down depending on the customizations you add to them and that’s before adding any miners into them and this is what a pod looks like without miners in it and this is what it

Looks like full of Miners and last question while we exit this pod how long do you think until this location is going to be done it’s going to be finalized and then we just waiting on moving machines so the machines will be moved in January and February but this

Location should be ready for equipment I would say within 3 weeks Blake’s just finishing up the last of the patch panel work that we have here I just made it back from my trip to Iowa and to end this video off when you open the front

Door you guys can see we got two packages and I already opened this one up but anyways guys this is the final stuff we need to set up the Caspa Miner but to set up this machine in my basement first up we’re going to open this Amazon package this cord alone

Costs like $200 essentially what this thing does is plug into our 240 volt outlet and then we’re going to take this p13 to P4 14 cable we bought and plug it into this thing right here I’m not going to do that yet however since first we have to connect the ethernet cable and

This ethernet’s actually the final thing we purchased it’s 150 ft and hopefully it’s enough to go from the basement to the office room upstairs where the router is to get started we’re going to plug the first half of the ethernet cable into the top of this Miner and

Then we’re going to start running this all the way upstairs and to my surprise guys 150 ft was actually more than long enough to go up the stairs with the ethernet cable through my kitchen and then into the office where the Wi-Fi router is and you can see I still got

Plenty of cable left but now that that’s done we’re going to head downstairs and back over to the minor in the basement and we’re going to go and plug in this p13 to p14 Cable I already have this side plugged in and what we’re going to

Do next is go ahead and plug this side in I have a feeling it’s going to be pretty loud there we go ladies and gentlemen we are officially mining crypto and on this machine you can actually change the fan speed to for example go from 50% down

Here to 100% we’re going to click save over here but then it’s going to be super loud like this or you can reduce the speed to let’s say 50% and then it sounds a lot better and then you can actually walk around the upstairs of your house and barely hear it drop a

Like for part two guys and peace out