Inside My Basement Crypto Mining Farm

Inside My Basement Crypto Mining Farm

Check Out Asic Marketplace For $70 Off Any Machine: https://asicmarketplace.com/financialwolf?wpam_id=486

Description: In this episode of Financial Wolf bitcoin mining adventures I show the results of the first two weeks of my crypto mining farm featuring an IceRiver KS1 machine mining Kaspa. I also explain the story behind my two bitcoin mining machines and how they’ve earned over $6,000 in less than a year of mining. Later in the video, I purchase another machine mining Kadena marking my 3rd crypto altcoin position going into the 2024-2025 bull run. 3,000 likes on this video and I will buy another machine to expand the business!

Inspired by Biaheza: I Tried Mining Bitcoin For A Week

It’s no secret that I’ve been investing heavily in crypto little by little building up a position to over one Bitcoin now along with small Holdings and now two crypto altcoins but it doesn’t stop there you see last year I bought two Asic s19 miners to start mining Bitcoin and they’ve been at my

Friend JP’s facility ever since and I even purchased another crypto Miner recently mining an altcoin Caspa that I set up in my basement over here it can definitely get pretty loud in here holy smokers but in this video I’m going to be sharing my journey mining crypto how

It works along with how much passive income I’m currently making daily and our journey begins in rule Iowa when I met up with my friend JP a crypto millionaire who got into the space in 2013 when he was just 15 years old he bought 20 Bitcoin at $70 each and as the

Price of the currency has continued to rise over the years JP has stayed involved in the business of crypto first mining ethereum on gpus back in the day to now owning multiple facilities hosting millions of dollars of crypto miners well after getting a tour of his facilities I decided to invest a

Comparably small amount of money $22,000 to buy my first Asic s19 minor this is a machine that with the help of many others processes payments on the Bitcoin Network like when you for example send $500 to a sketchy offshore Casino Bitcoin miners work to process this payment and in return for hosting the

Machine at your house you get rewarded with a small amount of Bitcoin daily this makes Bitcoin fully decentralized its system is run by independent people not any sort of central bank but now that I had this Bitcoin miner I made a YouTube video about it and was lucky

Enough to get another one sent to me for free by my sponsor Asic marketplace.com and now my two machines have been running for 308 days exactly or since March 6th of 2023 and to take a look at the earnings it’s been a total of 0.13 Bitcoin now if you do the math today

That’s worth about $6,195 and I’m happy to say I haven’t sold a single dollar of Bitcoin yet even to pay electricity costs which by the way have been $2,574 183 so far leaving me with a profit of 3,599 bucks absolutely crazy but here’s why I think crypto mining is bound to be

Even more profitable in the coming years especially with the introduction of this new machine in my basement as I’ve mentioned this machine next to me mines a cryptocurrency known as caspo which according to this chart is actually the second most profitable currency to mind only behind Bitcoin itself this machine

Has been running for 6 days now and so far we’ve earned $676 and I know what you guys are thinking well what about electricity cost with my current electrical rate of 17 cents per kilowatt this minor cost me about $245 daily to run that brings our daily profit down to roughly

$882 and this entire setup cost around 3,600 bucks this minor alone was $2,700 this 240 volt Outlet over here was $900 to get installed I feel like I kind of overpaid but nonetheless we have this pdu down here that was $130 and a C13 to c14 cable is plugging in that cost

Around 10 bucks finally we have an ethernet cable over here that runs up all the way from my basement runs literally through the middle of my house and eventually goes into my office where it’s plugged into the Wi-Fi router with $9 a day of earnings that puts our break

Even at 430 days assuming the price of Caspa doesn’t go up or the profitability for mining it doesn’t dip now I know that doesn’t sound like the best deal but I think if I had more miners it would actually be worth it since don’t quote me on this but I think I could

Plug multiple miners into this same pdu down here and then I wouldn’t have to worry about spending another $1,000 to get a 240 volt Outlet installed with a whole separate pdu to go with it if you take a look at the profitability for both my Asic s19 Pro mining Bitcoin and

My ant Miner ks1 mining Caspa you can see here that the Caspa Miner technically makes more profit per day even accounting for the fact that I have 6 cents electrical cost at JP’s facility and with the miner in my basement my electricity rate is a whopping 17 cents

Per kilowatt so technically you could mine Caspa sell that Caspa for Bitcoin and hold that Bitcoin that you got out for cheaper now this is highly speculative but here’s why I’ve decided not to do that when I started mining Caspa I did some research on the currency and a lot of people are

Comparing it to Cadena another crypto project people were mining leading up to the 2021 Bull Run and when that event happened it went up 50x in 3 months Caspa also hasn’t been listed on any major crypto exchanges yet it has a limited Supply and similar to bitcoin

Less and less can be produced over time making it more and more difficult to get and as we go into both the having for Bitcoin and and Caspa this year I think there’s a definite possibility we see a run up on both of the coins so my plan

Is to hold the cas by mine up until about $500 worth then I’m going to sell the Caspa as I mine it and purchase Bitcoin instead but genuinely guys this isn’t financial advice I’m just putting this out there to document what I’m doing to see how it turns out in a few

Years it has officially been 10 days since that last clip and our ice River ks1 has been mining over here ever since the noise has been pretty much no issue this entire time since I turned the fan speed down to 40% we’ve also had no problems with the minor overheating our

Earnings have maintained around $10 per day and right now we’re at a $155 worth of Caspa Holdings only $355 more to go until we start selling that Caspa for Bitcoin also to play devils’s Advocate the profitability of Caspa mining has been dropping for months because the five things that affect crypto mining

Profitability is the price of the currency your electrical cost how powerful the machine is the having which is an event that takes place every year for caspo and finally Network hash rate this is used to define the total number of machines running for a cryptocurrency and the more machines running the less

Rewards paid out per Miner and with Caspa going on such a run and taking a slight dip recently along with the network hash rate increasing at a rapid rate Caspa mining profitability has dipped quite a bit just 2 months ago my exact machine was making roughly $25 per

Day so if things keep going in this direction they might not turn out so good to top that off a bunch of new more powerful Caspa miners have hit the market and obviously with those running they’re taking away from the profitability of my machine but now that

You guys can fathom the concept of crypto mining down here I have another little miner I bought that I’m going to be running alongside the ks1 this is a gold shell KD Box 2 Miner and this entire setup you see only costs around $500 and the crypto that this machine

Mines is cadna and now to start setting this Miner up what we need to do first is go ahead and take these little cords from the power supply unit and plug it into the minor both of the cords are now plugged in and what we need to do next

Is go ahead and take this e internet cable that’s plugged into the back of my Wi-Fi router and plug it into the machine right next to it so the three ports on this minor are now plugged in and the final thing we need to do is

Take the back half of this power supply cable which is plugged into my 110 volt outlet and then we’re going to plug it into this power supply unit here and the miner should start running and you’ll hear the miner come on right now it is going to start running and Mining Cadena

24/7 after the miners all plugged in we’re going to open this application angry ip scanner to scan my IP and and find the exact address for The cadna Miner I think I found the IP for The Miner since I noticed it’s highlighted in green and it’s also right under the

IP I recognized for the Caspa Miner now we’re going to paste this IP address into my browser and this website is going to show up click unlock up here and the username for all cadna miners is admin with the password of 1 2 3 456 789 but of course you change the password

Later now all we have to do is connect our crypto wallet for payments and also connect a mining pool which the pool I’m using is pool fl.net this Miner has now been running for about 30 minutes and to check on the profit all we have to do is

Copy and paste our wallet address into pool flare and you can see we’ve made 0.278 31 cadna which at its current price point is not a lot of money at all I’m going to keep both of our machines running throughout the next few days and

I’m excited to see how much we make so it’s been 2 days since the last update and so far we are up to $171 40 in the crypto mining portfolio the base B Miner has maintained roughly $10 per day but as for the miner in my

Room it’s so far up to only 64 cents of earnings in 2 days and to make things worse this machine is costing me roughly 75 cents per day in electricity cost so we’re technically losing money but if you add in the roughly $20 per day of Revenue I’m earning for my Asic s19

Miners and the $10 per day I’m earning with my Caspa Miner I’m making nearly $1,000 per month mining crypto before electricity costs of course and as we approach another potential crypto full run going into 2024 and 2025 I’m super excited to see where this crypto mining business goes so guys stay tuned 3,000

Likes on this video and I’ll go ahead and buy another machine to keep on expanding this business thank you guys so much for watching this video I just finished editing and sorry I haven’t been posting a lot recently but I am back now and better than ever videos are

Going to be coming out every single week and comment down below if you guys have any ideas I’ll see you all super soon peace out