A Miner's Journey

This account aims to depict the journey of a new miner, starting from scratch, in 2021. 0 experience. All truth.

[A Miner's Journey @MinerJourney]

@bitentrepreneur As a retail just starting in this space, this is one of my first massive hurdles.
It seems that a bull market is the worse time to start a mining venture. Everything is inflated and returns calculations are completely skewed.

[A Miner's Journey @MinerJourney]

Could use pointers for buying #Bitcoin miners in Europe to avoid custom taxes from overseas shipments. Where do euros get their miners from? #asics #bitcoinmining

[A Miner's Journey @MinerJourney]

Stumbled upon my first massive problem. I've always known that miners produced heat. But even knowing that, I couldn't help being floored by the massive amount of heat they produce. My puny AC won't do. That's a massive extra cost that I'll have to put up :/

[A Miner's Journey @MinerJourney]

@IamNomad I started a #bitcoin solar farm mining venture :)
Expecting to get rekt, but looking forward to get involved in the mining space.

[A Miner's Journey @MinerJourney]

3000usd + for a second hand #asic #bitcoin miner (about 60th/s)... Damn this is going to be hard.

[A Miner's Journey @MinerJourney]

2nd main capital expenditure is obviously the #asics #miners . As retail, most can't afford the new machines. And in the current bull run they are hard to come by. So, 2nd hand market it is. Everything seems way overvalued. A whatsminer M21s goes for 3000usd...

[A Miner's Journey @MinerJourney]

I will start a couple threads about costs as a newcomer into #mining #bitcoin
This first thread concerns costs of setting everything up, before even starting to mine.
Will update thread over time as I discover new costs.
1/n

[A Miner's Journey @MinerJourney]

Well, the first thing I decided to put my focus on is a shed where miners will be doing their work.
Building it from scratch, I estimate costs to be around 10k$. Includes floor, roof, wall, door, steel reinforcement, electrical, aircon etc.
2/n

[A Miner's Journey @MinerJourney]

@DeepWaterStrat1 @DrToyos @jpbaric @hollhagg Why do you choose to build ethereum rigs when it seems those rigs won't be of much use in about a year with ETH switching to POS?
As for myself, it is for this reason that I decided to focis on btc; at least at first.

[A Miner's Journey @MinerJourney]

Now this is inspiring. Hoping to get a fraction of that by rhend of the year.
#bitcoinmining #goals

[MiningStore @miningstore]

We are beyond proud of our incredible technicians for completing our 5.4MW mining facility in Iowa. This wind-powered data center is helping to ensure the stabilization of bitcoin and optimizing renewable energy efficiency! #bitcoin #bitcoinmining

[A Miner's Journey @MinerJourney]

@miningstore Inspiring! I am myself starting a solar powered mining farm. Starting from scratch. In 2021. No previous experience, no tech background. If I could do a tenth of what you have achieved there, I'd be incredibly grateful. Well done and good luck!

[A Miner's Journey @MinerJourney]

I am a little worried basing my future #mining profitability calculations on current #bitcoin prices given that when the bull is over, the massive correction that will follow will change everything. Wondering how ya'll include this in your previsions.

[A Miner's Journey @MinerJourney]

Step 2: entering the world of second hand #bitcoin miners. Welcome to China, "dear"...
It seems like every miner sells instantly for 3 times what it should...
#BullMarket things, clearly.

[A Miner's Journey @MinerJourney]

1st step, building a shed for #bitcoinminers . Thinking of heat management, airflow, space, electrical setup, internet connection... Lots of work to be done.

[A Miner's Journey @MinerJourney]

I fully expect to get rekt along the way. #bitcoin is in a massive bull run, and as far as I could gather from my initial research, is pretty much the worse time to start a #mining business.

[A Miner's Journey @MinerJourney]

1st follow. @notsofast . When entering a new world, one has got to be humble and look up to the men and women who have been here before and have lasted through the test of time.

[A Miner's Journey @MinerJourney]

What has pushed me down the #bitcoinmining path?
An opportunity I could not refuse. Extremely cheap electricity.
As simple retail, I am aware that, like most, #bitcoin mining is out of reach. However, it seems I have stumbled across an edge that might just pay off.

[A Miner's Journey @MinerJourney]

Apologies in advance for all the dumb stuff I am surely going to post over time as I learn to weave around the topic as a complete beginner. I'm sure some of you will want to tear your hair out of your scalp.

[A Miner's Journey @MinerJourney]

I've been reading all I could find on the internet about mining #bitcoin. 1st impression is that there is not a single place one can go to in order to find an aggregate of resources on the topic. As expected from a decentralised project such as BTC, the field is quite eclectic.