I Mined Bitcoin for 1 Year (Honest Results)

Over the past year I have spent $92,000 on 16 Bitcoin miners and they’ve made me about $48,000. 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: https://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.

➤LinCoin Bitcoin Mining Pool where I mine: https://a.ndy.fyi/Lincoin

➤Want to build multiple streams of passive income? Join my email for FREE: https://a.ndy.fyi/Email

➤Earn $1000s in passive income with proven methods in my community (free trial): https://links.zzzmoneyclub.com/SignUp

➤Where I buy my mini miners: https://a.ndy.fyi/ipollo

➤ Follow Me On Twitter: https://a.ndy.fyi/twtr

DISCLOSURE: Some of the links on this page are affiliate links, which means that I may earn a commission if you click through and make a purchase and/or subscribe. Affiliate commissions are a great way to help fund and support the channel.

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.

I’ve been mining Bitcoin for one year now I spent about ninety two thousand dollars on my Bitcoin Miners and as of right now I have mined 1.8 Bitcoin in total over that year which is worth over forty eight thousand dollars today and I’m currently mining about three thousand two hundred dollars worth of

Bitcoin per month and I’m planning to mine one million dollars worth of bitcoin before the next crypto Bull Run so how am I going to do that has all this been worth it so far should you do it and is Bitcoin mining about to change completely let’s start with why I’m

Mining Bitcoin well I love passive income having machines that run 24 7 and pay me automatically that are also 100 hands off and oh baby they are is amazing every night I go to sleep and then I wake up with more Bitcoin It’s Magic so is it better to buy Bitcoin and

Hold it or to mine Bitcoin well I’ll give you my thoughts on that in just a moment but I think it’s important to note that even though I spent almost six figures on bitcoin miners I have way more than that just in Bitcoin that I’m holding and I really like this combined

Strategy Buy and Hold Bitcoin and then when I have a good amount add mining on top so I can passively accumulate more Bitcoin over time so how much have I spent so far last summer I purchased my first six mining machines for fifty three thousand seven hundred eighty four

Dollars or eight thousand nine hundred and sixty four dollars per unit then in the fall of 2022 I bought 10 more units for thirty eight thousand and forty three dollars or three thousand eight hundred and four dollars per unit in total that means I’ve spent ninety one thousand eight hundred and twenty seven

Dollars on my 16 Bitcoin miners which is five thousand seven hundred and thirty nine dollars per machine on average to run those machines for one full year I’ve spent about seventeen thousand dollars on electricity and so far I’ve mined just a hair over 1.8 Bitcoin which is worth just over forty eight thousand

Dollars today so how much digital gold am I making so it’s my last update on this the Mind difficulty AKA how hard it is to mine Bitcoin has been going up at a steady rate this happens as more and more mining machines come online so I’m

Mining less Bitcoin per month than I was a few months ago I’m currently mining 0.118 BTC per month or about 3 200 at today’s BTC price and of course this will probably change tomorrow or by the time this video comes out it’s constantly fluctuating each month I spend about eighteen hundred dollars on

My electricity but that also fluctuates with the heat and with the electric grids needing relief some months my machines have been turned off for a few hours per day so right now my overall profit per month is about fourteen hundred dollars I will finish mining two

Full Bitcoins in a little more than a month and a half then it will take me 254 days to mine my next full Bitcoin and bring my total to three Bitcoins mine however we are only 201 days from the next Bitcoin having and I’ll explain what that means for mining in just a

Moment first let’s talk about the return you get doing this one thousand four hundred dollars in monthly profit on a 92 000 investment works out to an annual return of 18 which I think is pretty good however the return is much higher if you get in today because the price of

Machines has gone down a lot since I last bought the same machines I purchase you can buy brand new today for between two thousand and twenty five hundred dollars each and actually you can buy even better machines that have a higher hash rate at a lower power usage for

Nearly the same price I link to my trusted minor Source where I buy all my machines musk miners down in the description all that means that if I bought all my miners today I’d be making a 40 annual return so elephant in the room I spent nearly 92 000 on my 16

Mining machines today you could buy the same ones for between forty and fifty thousand dollars had I waited I could have saved half my money that’s true but no one knows the future I couldn’t have known how far down the prices would drop just like I don’t know if they’re going

To drop more or if we are at the bottom for Bitcoin miner prices right now if you wait you take the risk that the prices start going up and you have to pay more to start mining but if you buy now you take the risk that the prices

Could start dropping tomorrow and you could have saved money so like with regular investing I just dollar cost average I bought my first machines at nearly nine thousand dollars per machine I bought my second round of machines at three thousand eight hundred dollars per machine and I’m most likely about to buy

Some more right now at two thousand to three thousand dollars per machine and get even more powerful and efficient ones in the process and then as I keep buying my overall average price per machine gets lower and lower dollar cost averaging but let’s talk about the other elephant in this suddenly very crowded

Room instead of buying these miners in the first place I could have bought a little over three full Bitcoins at the time and that was the better purchase correct well I don’t know maybe per part of this Bitcoin mining experiment for me was the question can I get more Bitcoin

From mining than buying maybe maybe not I don’t know the answer yet what I can tell you though is that from a USD perspective mining is a very good decision in my opinion it’s almost a certainty that I will earn back far more than 92 000 I spent on the machines and

All the money I spent electricity in profit in the next few years once we’re in another bull run so I think this is a good time to share My overall thoughts on mining BTC versus buying BTC because I’m sure this is a big question you have

As you watch this the short answer is I like doing both I probably wouldn’t get into mining if I didn’t already own Bitcoin directly mining is more of a gamble if you will get more BTC for your money versus direct buying so I do both I buy Bitcoin and I mine Bitcoin my direct investment into Bitcoin is many times larger than

My investment into Bitcoin mining I view mining as a calculated bet again from a USD point of view it will more than pay for itself the bet is whether it will accumulate more BTC overall or not so I want exposure to both now if you know anything about Bitcoin you probably know

That there’s something called the having coming soon this is where roughly every four years the block reward is coded to be cut in half this means that the moment the having occurs instead of the current 6.25 Bitcoin that are mined every 10 minutes there will only be

3.125 Bitcoins mined so the moment the having happens all miners around the world will be making 50 percent less Bitcoin and right now we are roughly 200 days away from this happening so this is a big bummer right maybe this whole Bitcoin mining thing isn’t worth it

Maybe I’m a total dummy for even trying this well there is a bit it more to the story than just that every single time that this has happened so far the price of Bitcoin has skyrocketed in value 6 to 12 months after the having so I am personally planning on short-term pain

Directly around the having where I’m either breaking even with my mining or maybe even losing some money with my mining but I’m also planning on long-term gain because even though the amount of Bitcoin I mined every day will be half as much in the months after

Having I think the price can go so high that it’ll actually be making even more money than I was previously and the higher the price of Bitcoin the longer I can keep Mining profitably and just for the sake of giving example let’s say that having happened right now which I

Hope does not happen I would suddenly be making half as much Bitcoin per day well at today’s price I’d actually be losing about 250 dollars per month if that happened but let’s say that the price of Bitcoin goes to one hundred thousand dollars which I think it will in the

Next Bull Run well then I’d actually be profiting 4 thousand dollars a month instead even with rewards halved of course that’s at today’s mining difficulty this is an imperfect example but I just want to illustrate that the price of Bitcoin is the number one factor in these calculations so is now a

Good time to start mining should you mine Bitcoin well if all this sounds good to you and you want to mine then yeah mind Bitcoin don’t let me stop you aside from all the money making reasons to do it I also think it’s a lot of fun

I like geeking out about mining I like picking out the hardware and seeing the BTC hit my wallet every day and I like supporting the Bitcoin Network so if at this point all this sounds great you might be thinking cool I’ll buy a few miners plug them in my house and start

Making passive income well not so fast speed racer unfortunately it’s not as easy as that all right Trixie please stop talking I’m trying to figure something out these machines require 220 volt power not dinky 120 volt from your household plugs well here in the USA at

Least and they use a lot of power so you need cheap electricity to run them profit they’re also super loud and produce 3 000 watts of heat constantly space heaters are typically only 1500 watts to put that in perspective so you need to think long and hard about where

You put these machines and how you set them up for me there’s no way I can run them at home so I host them I have partnered with musk miners for my hosting they have a brand new partner facility in Iowa that has available space the really cool part about this

Facility is that it has crazy good uptime 98 or higher uptime meaning no powering down the machine for hours a day like other facilities your machines will be making money almost 100 of the time and even better is they have a great power rate of only 8 cents per

Kilowatt hour which is way cheaper than the US average of 23 cents per kilowatt hour I’m actually about to buy more Bitcoin miners from musk this week they have a bunch of s19k 120 terahash machines available for less than three thousand dollars each which are way more efficient and profitable than my current

Miners I run plus they come with warranties on the units that include maintenance and repairs another really cool thing is they will actually help you sell your miners in the bull run if you want one thing I’m counting on is that any machines I buy right now could

Be worth three to five times as much as they are today in the next Bull Run because people will be desperately trying to get their hands on machines meaning you can mine on these machines for the next couple of years and then sell them for a profit in the bull run

And still keep all the BTC you mind in the process it’s not a guarantee but I think that this Hardware Arbitrage is quite possible there is a link in the description to the musk miners website send them an email and they will happy to get on a call with you and explain

All the ins and outs of buying and hosting with them and what’s awesome is you can get started with as little as one Bitcoin miner most miners have been really great to work with so far so what does the future look like well I will have mine just under three Bitcoins by

The having event then in the next year after the having I will mine just over four full Bitcoins I’m aiming for 150 to 250 000 Bitcoin in the next bull market hopefully in late 2024 or in 2025. that would mean I mined 600 000 of Bitcoin

All the way up to the magical one million dollars worth of bitcoin if that happens I’m pretty excited to see how this experiment of mine get it works out of course I’m not just mining Bitcoin I’m earning between ten thousand and twenty thousand dollars a month with the

Crypto passive income strategies that I use watch this video to see all the sources of crypto income I’m using right now so you can get some more ideas for yourself goodbye