Make $1,000/Day Doing Nothing

People around the world are making anywhere from $100 to over $1,000 per day doing absolutely nothing.

They do it with crypto mining, which is essentially programming a computer to “mine” crypto, which generates crypto currency in return as a reward.

More specifically, it’s the process of validating transactions on a blockchain network, which is like solving a really complex math equation.

This process is fundamental to the operation of cryptocurrencies like Bitcoin and Ethereum, as it ensures the integrity and security of the decentralized ledger.

And here lays the opportunity to scale this process and make huge money on autopilot.

By building even a small crypto farm of 5 rigs, you could generate $100/day. Only it won’t be you doing any of the work, the computers will.

Here’s a basic rundown on what you’ll need, how to get started, and how feasible this really is if you’re on a budget.

What is Crypto Mining?

Crypto mining is the process by which new cryptocurrency coins are created and transactions are added to a blockchain.

This process involves solving complex mathematical problems using high-powered computers, which validate and secure transactions on the blockchain network.

In simpler terms, it’s essentially where you program computers to use algorithms that will “mine” crypto currency all day, 24/7 on autopilot.

And “mining” is basically using these computers to solve complex math problems.

When they solve these problems, they help create new cryptocurrency and keep the whole system running smoothly, earning rewards in the form of cryptocurrency for their efforts.

Let's break down how it works:

1. Blockchain and Proof of Work (PoW)

At the heart of crypto mining is something called blockchain technology.

Imagine a blockchain as a digital notebook that records every transaction made with a cryptocurrency.

These transactions are grouped into sets called blocks, which are added one after another in a straight line.

To add a new block to this digital notebook, miners have to solve a complicated puzzle.

This puzzle is hard to solve but easy for others to check, a system known as Proof of Work (PoW). The first miner to solve the puzzle gets to add the new block and earns some cryptocurrency as a reward.

2. The Mining Process

Here's how mining works, step by step:

- Collecting Transactions: Miners gather a bunch of unconfirmed transactions and put them together into a block.

- Solving the Puzzle: Miners use their computers to solve the puzzle. This involves finding a special number that, when combined with the block's data, creates a hash that meets certain criteria set by the network.

- Checking the Solution: Once a miner finds the right number, they share the block with the network. Other miners then check to make sure the solution is correct and the transactions are valid.

- Adding the Block and Earning Rewards: After the block is verified, it gets added to the blockchain. The miner who solved the puzzle gets rewarded with new cryptocurrency and any transaction fees from the transactions in that block.

4. Mining Equipment

To mine successfully, you need special hardware called mining rigs. There are two main types:

- ASICs (Application-Specific Integrated Circuits): These are machines made specifically for mining certain cryptocurrencies. They are very efficient and powerful but can be expensive.

- GPUs (Graphics Processing Units): These are originally made for gaming but work well for mining because they can handle many tasks at once. They are more versatile than ASICs and can be used to mine different cryptocurrencies.

How Much Can You Make from Crypto Mining?

Crypto mining can be highly profitable, but your earnings depend on several factors.

The value of the cryptocurrency you're mining is crucial; higher prices generally lead to higher profits.

Mining difficulty also affects earnings, as it increases over time, requiring more computational power and energy.

The speed at which your mining equipment can solve puzzles, known as hash rate, plays a significant role.

More efficient mining rigs, which use less power for higher performance, can boost profitability, and lower electricity costs can also improve your margins.

A small-scale miner using a single ASIC miner like the Bitmain Antminer S19 Pro, which costs around $10,000 and has a hash rate of 110 TH/s, could earn about $15 per day, or roughly $450 per month after electricity costs, assuming Bitcoin is priced at $40,000 and electricity costs $0.10 per kWh.

So in terms of ROI, you’re looking at paying off that computer in about 2 years. But afterwards, the computer will perpetually auto-generate profit.

A medium-scale operation with 10 of these machines could see monthly earnings of around $4,500, while a large-scale farm with 100 machines might generate about $45,000 per month, though the initial investment for such an operation would be substantial.

Some of the largest crypto farms earn significant amounts. Genesis Mining, a major cloud mining company with data centers across several countries, reportedly makes millions of dollars per month.

How to Build Your Own Crypto Farm

Building your own crypto farm can be an exciting and profitable venture, especially if you approach it with careful planning and strategic investment.

However, it’s not for the faint of heart when it comes to technology and computer skills.

Here’s a detailed, step-by-step guide to help you get started and optimize your setup for maximum profitability:

1. Planning and Preparation

Before diving in, it’s crucial to plan your setup carefully. Begin by assessing your space.

You'll need a well-ventilated area, preferably a basement or garage, where you can manage the heat generated by your mining rigs.

Ensure that the electrical wiring in this space can handle a significant load, as mining equipment consumes a lot of power.

Next, you’ll want to select your GPU mining rig.

- GPUs: Nvidia GeForce RTX 3060 Ti is an excellent option for its performance and efficiency. Start with two or three GPUs and expand as you become more comfortable with mining.

- Motherboard: The MSI Z390-A PRO is a reliable choice that supports multiple GPUs.

- Power Supply Unit (PSU): The EVGA SuperNOVA 1000 G5 provides ample power for multiple GPUs and is highly efficient.

- CPU: The Intel Pentium G4560 is affordable and sufficient for mining needs.

- RAM: 8GB of Corsair Vengeance LPX is typically enough for your rig.

- Storage: A Kingston A400 120GB SSD is all you need to run your operating system and mining software.

- Cooling: Invest in additional case fans and a reliable CPU cooler like the Cooler Master Hyper 212 to manage heat.

- Frame/Rack: Use a sturdy pre-built mining frame or build one yourself using metal shelving units from a hardware store.

With this setup, you’ll have a solid foundation for your mining farm. The GPUs provide the necessary computational power, while the motherboard and PSU support multiple GPUs for potential expansion.

Proper cooling is essential to prevent overheating, and a well-organized frame ensures efficient use of space and airflow.

By following these recommendations, you'll be well on your way to setting up a successful and profitable crypto mining operation.

3. Assembling the Mining Rig

Start by assembling your motherboard, CPU, RAM, and storage. Mount the motherboard onto the frame and connect the CPU and RAM. Attach the SSD and ensure all components are securely in place.

Here’s a good example video that shows exactly how to do this:

Next, install the GPUs. Connect them to the motherboard and secure them onto the frame. Ensure that your power supply unit is connected to both the motherboard and the GPUs. Proper cable management is essential to maintain good airflow and prevent overheating.

4. Installing Software

Once your hardware is set up, it’s time to install the necessary software. Download and install an operating system like Windows or a Linux distribution specifically designed for mining, such as Hive OS.

Install mining software such as CGMiner, BFGMiner, or EasyMiner. Configure the software to connect to your chosen mining pool if you’re not mining solo. Enter the necessary settings, such as wallet addresses and pool information.

5. Configuring and Testing

Power on your mining rig and monitor it for any issues. Ensure all components are running smoothly and temperatures are within safe limits. Use software tools to monitor performance, such as GPU-Z for GPU status and HWMonitor for overall system health.

Test your mining setup by running it for a few hours and making any necessary adjustments to improve efficiency and stability. Check the mining software for your hash rate and ensure it aligns with your expectations.

The BMM Takeaway

This guide provides a condensed overview of how to build your own crypto mining farm, highlighting the essential steps and equipment needed to get started.

It also demonstrates the feasibility and potential profitability of crypto mining, even for those with limited experience and a modest budget.

However, there are many detailed tutorials and videos available online that can provide more in-depth, step-by-step instructions to follow as you build it.

Otherwise, you’d have to read another 10,000 words to get the full detailed tutorial.

But now you know the potential of crypto mining and how to get started if you do decide to build your own farm.