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. ▼▼

(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.

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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.

[YourFriendAndy]

(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.

[nickwilliams]

BTC at 67.7k right now.

Homie is doing aight.

[jackmiller]

Do you recommend just hosting? seems alot easier they use solar for cheaper power and maintain it all for you and the s21 is too loud to have at a house.

[Nathan]

Hey, as a home crypto miner myself. I think you’re doing pretty good right now like the fact that you don’t only just have one ASIC but more than 10, 16 to be exact is pretty good and the fact that you have a farm I’m pretty sure makes it even better. Also I think you’re doing pretty good and as long as you have like, maybe some other income to pay off the power you’ll be able to hold the bitcoin basically forever until you want to sell it, which then you would make a decent profit and be able to pay off all the miners and then it would just be pure income from there. 😊👍

[TheRealLink]

Small-time miner here from years ago. Neat channel and endeavor! Ran 8 high end AMD GPUs back when GPUs were king and pulled about 3KW off-site for something in the 6 GH/s range, then eventually had 3 BFL units doing 180 GH/s. Obviously now you need quite high TH/s but I can assure you compared to the hardware (while expensive), >100% returns were easily achieved. This is similar on a bigger scale of course! I wish you success since you're overall quite close to breaking even already.

[johncaverson]

Can I ask what pool you are in? Would I be able to join it as well?

[devluke]

Great Video as always Andy. One thing to note is that you are in a good position as you do not need to sell your (precious) mined btc to cover electricity costs (based on the assumption that you have some capital on the side) ? I think that this is a big plus in the long run and something to keep in mind for people that want to get started.

[ThomasConover]

Andy. Your mining is 200x times more valuable than you think. Because you are protecting the network with your miners. Without the protection you and all miners give, bitcoin would never grow and nobody would but it. So you are responsible for the fact that the price will 100x in the future. So yea. Mining is indeed profitable. But you have to think out of the box.

[devinsonnenburg]

West Tx, Nice. As am I. Would love to see it sometime. It's something I consider getting into on a much smaller scale.

[GreaterGoodMining]

Great video Andy! Its nice to see videos like this because it reminds me to keep focused and keep grinding through this bear market!

[alexisballet]

Yo it's pretty impressive you got and nice video, but what about the ecological impact of all the electronics and energy consomption ?
Did you tought about it ? Is there a point at the large scale or is it just a speculative tool ?
No offense, i'm just wondering

[WalterGerson]

I plan to start mining this month, thanks for all the content you shared. QQ: once you have cryptomined are you selling on the exchange for cash? How does mining crypto create a cashflow for you?

[miguitejada]

Should have been watching your videos from a long time ago!!. Great stuff.

[AllSportsStations]

I remember mining with my CPU back when the reward was 50 coins. Then the migration to GPUs was amazing, still 50 coins each block.

[AdamTVi]

So from what I understood, you could have 3 BTC and do nothing. Instead you setup a rig, maintain it, pay a lot for an electricity and over 2 years down the road you hope to get to 3 BTC (minus what you paid for electricity over all those years). Unless the money you invested was borrowed and couldn’t be deployed straight into Bitcoin it looks to me that mining makes absolutely no sens vs just buying.

[martinramirezmi]

Question Andy. So do you pay your monthly hosting or electricity cost with your profit from mining, or do you pay it some other way?

[yeffblanco]

Cool video, I liked & subscribed.

I bought some, near the high, but held it, thankfully.

Could one use solar power, if the house was equipped with rooftop panels?

[ChubbiRageV]

have you tried solar panels or anything else for source of electricity? or teslas elon panel thing that he had presented that can power up a house +.

I have 0 idea about mining just wondering if possible? and what other options exist

[JackofMasculinity]

Did you do the mining solo or where you in a mining pool when you mined these bitcoin?

[helpmh]

Did u got a block before with that power ?