I spent $1650 on mining equipment.

I spent $1650 on mining equipment.

By MadMaxx | Psycho Crypto | 11 Jan 2020


Tip this post if you enjoy it!

So I finally went into mining cryptocurrencies myself.

I have previously mined XMR and ZCash on my i7 enabled laptop in the past.

But this time, I had done a few calculations, and realised that I could get a wee bit richer everyday by buying actual mining equipment.

I had calculated about $20 a day mining my crypto of choice, which is not bad at all. This amount is net, because I would have paid off my electricity bill from the money I make from mining every month(electricity in my city is quite cheap)

But I had to find some mining equipment.

And they must be within my tight $1650 budget.

So I went online to Amazon to find out the cheapest ones I could find.

I searched and did some research and eventually settled on the Dragon X miner S2. I went with about 4 of them since they were all $350 each.

The remainder of my money was spent on setting them up, getting required cables and paying for services. You know, the boring stuff.

All this happened about a month ago, so I was still able to do my 18 hour personal challenges and have something to share.

Eventually, I had set up my 'mining rig' in the spare bedroom meant for my soulmate(she never showed😢)

I joined a mining pool, because my weak mining devices would hardly get me anything a month.

I found a small rig in my city and joined them.

And my calculations were quite correct! I actually made a $20.58 profit mining my preferred crypto(I footed all the extra bills for last month from my pocket, which is why I can call it 'profit')

Eventually, this will keep up, and I'll continue this series where I explain my mining setup, and eventually reveal my profitable coin.

Stay tuned!

 

How do you rate this article?

0


MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

Publish0x

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.