Making $11,000 A Month With Bitcoin Mining
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- Опубліковано 24 вер 2024
- I have now been mining Bitcoin for over 18 months. And I'm buying even more machines. I'll tell you how much I've made, how much I'm making, whether it's too late to get in and how the upcoming halving is going to affect mining. ▼▼
Bitmain S21 GIVEAWAY: gleam.io/iaENL...
➤This is where I buy and host my miners: a.ndy.fyi/Musk...
(Save $100 Per miner with code YOURFRIEND100)
They have a 1yr warranty with all equipment and have 98% uptime guaranteed.
➤Want weekly insights on how to make more money & passive income? a.ndy.fyi/Email
➤Make $100s to $1000s each month in passive income (free trial): links.zzzmoney...
➤ Follow Me On Twitter: 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.
➤Bitmain S21 GIVEAWAY: gleam.io/iaENL/musk-miners-bitmain-s21-btc-miner-giveaway
➤This is where I buy and host my miners: a.ndy.fyi/MuskMiners
(Save $100 Per miner with code YOURFRIEND100)
very good presentation, I did buy 7 already.... that it the time to buy... what are the rate for hosting with musk miner?
Good move! I need to get into mining Bitcoin.
People are idiots to think if mining is dead, they're wrong, mining works. Regardless. GPU, BTC, CPU mining, you sir, will be a millionaire if you keep this going!! The highest bitcoin bitcoin price ever, mining is STRONG and competitive.
Please teach me.... I'll love to learn how to trade... I have Bitcoin app but don't know what to do
Why didn’t I see any hard stats like in a table or pie chart???
Hardware costs, utility costs, average hash rate. Wtf
Amazing moves man! Super inspirational 👏maybe its time to put these solar panels on the house to work and mine some coin! 🤔🤔
I have joined you in the PetaHash Club recently with my own addition of a new S21 200th to my set, from Musk Miners. The calming whurrr of those fans running in the back of the warehouse will be with me forever.
Welcome Sir Nicholas to the Pethash club
Can you make an update after the halving
Musk miners charge almost 2000 grand more per miner. Than others sellers
I've explain this in other videos, but anywhere you can buy a miner much much cheaper, almost never offers hosting. Or if they do, it's at a higher electric rate with other adding fees like "racking fee" or deposits or misc other ones to make up more profit.
People who don't offer hosting, make money on razor thin margins on the machines. Hosts already have razor thin margins and have to still cover maintenence costs, etc. So they charge more for machines otherwise they go out of business. The cheap resellers that only sell machines don't have to deal with any of that. So they can get away with cheap prices. They just drop ship the machines to you and that's the end. Musk will sell you machines for cheaper if you don't host with them.
But $2K cheaper for a 200T unit? No likely unless a very sketchy dealer. The cheapest I find from reputable dealers who do NOT offer hosting is $4600-5000 for the 195T units.
Really important to put this stuff into context as to why certain things cost as much as they do.
@@YourFriendAndy I agree, I also really dont know where you could buy an s21 for 2K less. Could be a scam.
Will this work using solar panels?
You're really moving up in the BTC mining game. Keep it up 👍
how bad is it? any ideas?
@@TheKennchongwo I don’t personally have any BTC miners but most profitability calculators say that only the newer BTC models are profitable
Hey Andy, Do you have a spreadsheet to keep track of the Crypto you can share? Thanks
Bitcoin!!
Send it DJ
love your video DJ keep going
@@jean-francoismarceau7683 ty
Well I'm older but definetly trying to get into this stuff for a passive income which would be good
I just purchased a few of these. Just getting into the game. Curious, what mining pool do you suggest for mining BTC?
Hey Andy I’d love to hear your thoughts on the goldshell ka box, I was really tempted to get a ks3 back in November but there too noisy I just didn’t have the space Happy with my kaspa bag and I think it would possibly be a good intro into mining. Because come the next bear market I’m gonna be all over it and hopefully I can pay for some proper space for it.
Would love to hear your thoughts. Keep rocking Andy 😎
So he doesn’t take out the price of the machines out of his overhead?
Hi! Just an idea. How about investing in a solar system to cut the cost of electricity 🙂
Wait a minute, you started 2 years ago when one Bitcoin was roughly $20K. If you you would have bought bitcoin then for $190K (what you spent) you would have got 9.55 BTC worth $573K today tripling your investment without having to buy any machines or any other expenses. I understand the fun of mining but does not sound like a valuable proposition since after 2 years you broke even or am I missing something.
I didn’t buy all the machines at once, so no, I wouldn’t have had that much. If I bought the BTC when I bought the machines I would have a bit over 4 BTC right now. When I bought my first few machines, Bitcoin was still well over $30K. Also, you are including money I spent on hosting, which I spent monthly over time. But I also did buy Bitcoin at and sub $20K separate from these machines. Most of my BTC was bought sub $10K in the previous cycle.
And just buying misses the potential opportunity of transaction fees I can earn with these machines in the bull run and being able to sell my machines and keep all the BTC they earned.
Hope that makes sense.
Great video and perspective Andy well said my friend! Let’s go BTC !!
Have you considered investing in solar power to save costs, and thus increase income.
I am new to this. What is the logic behind the halving?
Andy I believe you have Kaspa miners.. what happened to them? Do you recommend stacking more Kaspa miners?
Nothing happened to them, they are still hashing! As for getting more miners, I think that comes down to what you think the future of Kaspa is. If you are very bullish, then it might be a good play for you. If you are on the fence, then maybe just buying the coin is better. It's a personal choice. I'm happy to be mining and I might get more machines in the near future.
@@YourFriendAndy yeah very bullish on Kaspa.. I’m currently in between getting KS5 20T or 4x KS3M. I’m already mining with Kaspa mining via NiceHash but once your start mining you never want to stop 😅 thinking of opening hosting place in Dubai soon.
Good move!
This is awesome!! I’m so glad I partnered with MM!!
They rock!
Hmm, my S21's are currently earning roughly $15/day, and after the halving that will be $7.5/day. Your hosting is costing you $6.60/day, so net earnings should be $0.90/day or approx $27.75/month. Naturally, im not forecasting any change in BTC price, so if you are a "bull" then this will be low.
Mine to hold might work long-term if the run continues, but the S21 will operate at almost breakeven (and then negative) after the halving occurs when factoring in $200/month for electricity and the continued rise in difficulty. It's going to take a huge price increase, quickly, to make the miner profitable to run on a month-to-month basis after June of this year.
I don't think there is any doubt about mining and holding working long-term. I think it will work short-term too (next 6-9 months), but if we are truly talking long-term as in years... well I suspect the price of Bitcoin will be much much higher years from now.
S21 will profit $100/month after halving if price and difficulty are the same (they won't be). But crucially, this is not taking into account transaction fees (like I talk about in this video).
SO.....bottom line is 2 years of work, you made $30K before the new machines.
Ummmmm that is NOT a good business model, considering replacement and obsolesce of the hardware.
im trying to get me one, this is CRAZY!!!!
Why have such a variety of miners?
Got any ideas how i should start up my mining..what cheapest money wise machine to get started? Please help lol..im a newbie
Cheapest Bitcoin ASIC? I don't think I'd go with the cheapest right now. If cheap is the name of the game, I'd look at DePIN devices or something as a starter.
an S21 miner would sure spank my Nerd Miner V2. Hope I win. Thanks for doing the giveaway
Skipping to the end:
So if I buy one miner at 6k, host with Musk, it'll be roughly be 15.months before my ROI?
I believe I math'd right there
Well maybe don't skip to the end. Lots of important info in the video before you pull the trigger on these. And these ROI immediately. They have a return on your investment of roughly 4-5% a month. If you are talking about break-even, that's different and totally dependent on how you define it. In USD? In BTC?
Most break-even calculations are pointless though. The variables change daily and the calculations can only serve as the roughest of guesstimates.
How much do the S19K pro 120T average?
So would it make sense to wait for the bitcoin halving for miners to get cheaper?
Yeah maybe! Unless the price doesn't correct and machines keep going up in price. Hard to know since we are in uncharted territory. That's why I'm buying machines now and I'll probably also buy after halving. That way I hedge my bet and DCA a bit.
@@YourFriendAndy thanks for the reply
How can a person walking mine bitcoin?
So if I buy half of that I can make half of that and live happily ever after?????
OMG what a total waste of electricity.
You could of bought bitcoin once upon a time for a dollar a bitcoin.
Based on your comment I’m assuming you did buy a ton of Bitcoin for $1 each and you’re mega rich now. Right?
@@YourFriendAndy No, I'm set for life from Nazi Gold Inheritance.
Now have hobbiest miner beaten. Lol right Andy
haha trying to stay a step ahead!
1st thanks but the link to the entry isn’t working :(
Maybe try a different browser or make sure your VPN or ad block is turned off: gleam.io/iaENL/musk-miners-bitmain-s21-btc-miner-giveaway
There is 100+ entries already on it. So it works
Measuring your mining return in USD gives a false sense of success. Instead, do the math on how much BTC you would earn buying BTC instead of the miner and spending the $200+ a month for hosting/electricity on more BTC.
I did the test myself over the last year, and while I did break even in USD terms, I would have nearly double the BTC if I had just bought and none of the headache. I'm so far apart that there is no chance this miner will break even in BTC terms, and that is at $0.08/kWh.
USD is what most people watching care about, so that's how I explain all this. I personally care about BTC. So far I am on pace to out-earn how much I could have bought if I bought BTC directly when I bought my machines.
But really it's very much not as clear cut as you are saying. This year is a huge question mark. If you watch my section of this video about fees, you will see why. It could be explosive in terms of BTC earnings. DCAing into BTC can't do that for you.
I will also say that I DO buy BTC all the time, so really I like a hybrid approach. I don't like an all or nothing approach or having to choose a path. I am hedging my bets either way.
@YourFriendAndy I tracked it closely on a spreadsheet over the last year of mining. Here's the numbers using a BTC price of $62,800. It's had roughly 99% up time since I got it. I ran the S19J Pro overclocked for the majority of the time at 4000w and 125TH. In the summer months, I underclocked it at 1700w and 70TH. My residential electricity rate is right around $0.08 kWh.
* I spent $2454.41 for the miner and everything I needed to get it up and running (control board for overclocking, wire, outlet, breaker, AC Infinity fan, fan shroud, etc.)
* I spent a total of $2,434.56 in electricity.
* Total expense = $4,888.97
* As of today, I earned 8,372,182 sats. That's worth $5,257.81.
* Mining profit = $368.84
* If I were to sell the used equipment today, I'd get roughly $1,368.35 or 2,178,866 sats.
* Total profit from mining and selling used equipment = $1,737.19 or 2,766,182 sats.
* Total BTC accumulated = 10,551,048 sats worth $6,626.16
Not bad, right? I made $1737 over the course of a year while heating my garage. In USD, that's a net gain. However, if we do the math on BTC earned from mining vs. using the money spent on the equipment and electricity to buy BTC...
* $2454.41 spent on the equipment in Feb 2023 would have bought approximately 10,751,441 sats.
* $2,434.56 spent on electricity would have bought approximately 7,329,100 sats if I purchased BTC on the 1st of every month.
* Total BTC from buying = 18,080,541 sats, worth $11,354.76.
* Total profit buying BTC = $6,465.79
* Net loss from mining vs. buying = -7,529,493 sats or -$4,728.60
All the haters need to mined their own business.
2 plastic hollow balls with a magnet 🧲 in each that makes a micro fraction of gpu needed to ming bitcoin. How do electro magnets clincking each other around your shoes all day mine bitcoin?
when you host with musk miners do you have to setup the miner yourself in a pool?
They do that for you. You just need to provide a wallet address to connect to the pool.
@@YourFriendAndy Thanks for the quick reply!
I’m assuming the hosting fee is in usd and paid monthly?
@@Don-yt5tj paid monthly yes. Can be paid in a variety of ways, usd included. I pay with USDT
Am thinking of getting into bitcoin mining myself, with that machine you're going to give away for free I hope it finds it's way into my garage lab.......
Seems pretty trash... don't even pay themselves off in a year... maintenace and the fact bitcoin could tank makes it such a risky investment, better to just day trade crypto/stocks.
lol this comment is wild. Good luck with your day trading.
Which pool do you mine to? You really get 0.009 per machine? When i do the calculations its 0.0003 btc for 200 th. Or 1000th gives 0.00157 per day.
Please explain
I dunno what calculator you are using, but whattomine and others that I trust show you get 0.009 BTC per month, per machine right now.
Does Musk take a cut of the monthly profit left over after electricity expenses, or do they just make all their money on the backend of reselling the hardware and stuff like that?
Apologies if you've already answered this a million times elsewhere!
No, you keep 100% of what you mine. You can choose to pay for the hosting out of your rewards or out of pocket or however. They make their money on selling the machines and a tiny bit on the electricity costs/hosting.
The BTC mining rewards are paid to your wallet address you control.
Awesome, sounds like a reasonable business model and a win-win. Thanks for the response!@@YourFriendAndy
I love to be lucky to win. Mr Andy
Hi Andy, the Gleam giveaway page returns this error: Sorry, you're creating too many entries; try again later.
Any ideas?
Maybe a VPN or adblocker is stopping it? Maybe try a different browser too
Please let me have one machine pleasee pleasee 😭
lol
I will love to star earning.
With these miners can you change it into the system to KAS or w.e? I've seen this and they say BTC Miner or KAS miner and I don't know if they are saying these miners are specifically only used to mine specific crypto?
Kaspa uses a different mining algorithm and requires a different machine. These will only mine SHA256 coins. ASICs generally can only mine one coin or a few coins if they share an algorithm.
Can I do the hosting even if I'm not in America...from a distant country
Yes you can. Reach out to Musk Miners.
If must miner would charge a fair price. I was going too
I answered in your other comment. I think they do, but you have to understand how these places work.
So.. could i borrow a coin or two to start up and pay you back? 😂
Sounds like you woulda been better off just buying bitcoin
No. Way too early to call. We have no idea what BTC fees will look like this year or next.
ᴠᴀ̀ᴏ ᴋᴇ̂ɴʜ ᴍɪ̀ɴʜ ᴄᴏ́ ʜᴜ̛ᴏ̛́ɴɢ ᴅᴀ̂̃ɴ ᴄʀᴀᴄᴋ ɴᴇ̀ ᴄᴀ̉ ɴʜᴀ̀
It's a ridiculous theory
Why is that?
@@wallord Because he cleared only $30K in two years. That is terrible ROI !
I hope i win
What about Pi Network Mining???
Great
You give me
I will pay every half n year
but
I am from india
Come here
Install setup
new cough cough entered the chat
Mee mee
im fan of you
hey @yourfriendandy please send me one of those s21's k thanks!