I spent $1650 on mining equipment.

I spent $1650 on mining equipment.

By MadMaxx | Psycho Crypto | 11 Jan 2020


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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!

 


MadMaxx
MadMaxx

Shitcoin flipper. Derivatives and options trader. Bitcoin and Ethereum futures and inverse swap contracts. Professional trader. Never financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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