I mined Bitcoin for 9 months. Was it worth it??

I spent $92,000 on 16 Bitcoin miners and they've made me about $30,000. 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. ▼▼

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]

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.

[MrRight-uvvb]

you know what I appreciated and liked about this vid. Immediatly after the vid started you straight up said how much you spent, how much you made back and the timeframe....PERFECT.

[CryptoCafe]

When I mined BTC in 2012 looking back I was better off just buying BTC. Good video 👍🏻

[Ozymandias]

I only mined 0.3 BTC but it was with a tiny USB stick with only a single ASIC on it which cost about $100. Back in 2013.

[islander]

These companies selling mining hardwares are like the ones selling shovels during the gold rush back in the days. They are the ones who are really big profits

[oxfordsparky]

Where on Earth did he get the idea that a home PC uses 200W per day?

[dylannktest]

Don't forget when you need to pay the hosting/electricity fees every month, you probably need to pay that in dollars, so either you need cash on hand or you need to sell btc you've mined to pay those fees. That's the hard part in a bear market: if you don't have enough cash on hand and btc is too low in price to meet the costs, you need to sell your mining equipment. Nonetheless, great video!

[aoncrypto]

I DREAM OF MINING BITCOIN WHEN I SLEEP AT NIGHT

[BornFreeFilms]

I know nothing about Bitcoin and/or mining. 1. Can you hook machines up in your house without a host? 2. What wallet/s do you use? 3. Can you mine multiple/all crypto with them and if so, at the same time? Edit: I heard Bitcoin to mine is running out.

[bobbrysonn]

Bro is rich now. Congrats! Hope you hodled😁

[christopherhobb]

When you invest, you're buying a day you don't have to work

[nickhugg]

So thanks for making me realize mining is terrible - would have been better to just buy BTC and hold 9 months ago - not to mention halving is among us so expect profits to be cut in half

[slcf]

Dear friend, instead of talking about the video for 10 minutes, you would have shown us a graph in one minute and explained in the graph that in these 9 months you invested and spent such and such amount and earned such and such amount of capital. Just ask how are you? Then, while you can say yes or no, talk about yourself for 10 minutes 😂

[chrisb]

Andy: hosting is typically around $0.075 - $0.085 per kWh which is around $180/per month. So for 16 units you should be paying ~$2, 880/month, not $1, 800/month. Did you just work out a sweat deal or are you paying a portion of the hosting with BTC?

[Flexboymack]

this man lost 48k in investing hell nah

[michaelprevot]

It sounded like your Roi calculation was wrong so I did the math for you. Your investment was $91k, your profit was $26k and the value of your hardware based on your last purchase price would be $76k. Giving you a return of 11% ROI.

[gerardomunoz]

No your not the only one dreaming about bitcoin.
I was sleeping and woke up to myself saying mine bitcoin. Now I am watching your video.

[Tacosmix]

Is the 30K monthly revenue after you deducted the hosting and electricity cost? Makes all the difference. Also, mining difficulty is steadily increasing. I can predict now already that ROI wont be 2 years in total. Even though you seem to be halfway after a year.

[AkisTsoukalas]

At least make sure you take care of the gpus and run them on cool temperatures . I had many cases where the average consumers buy graphics cards from miners and they didn’t do proper maintenance like changing thermal paste on the core and on the capacitors not to mention fans . If you have a rig that runs 24/7 you have to take care of it .

[Thedudenurse]

Hi Andy,
Great video! I am new to this and I guess I am a bit (see what I did there) confused on how the revenue works. I’m assuming you have to cash out the bitcoin to get any money so how do you pay for all the hosting, etc? Is there another revenue stream from this im not seeing?