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  1. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Great question and one of my biggest fears as well. They are averaging around 45k right now. Of course they've only been running a few days, but that is very consistent so far. We've not done anything with them though. Right now they are just sitting on a table with the exhaust pointed out a...
  2. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Update. Basically, our business plan is to take the profits from our initial machines and roll it forward to buy more hardware. I put together the attached spreadsheet for the numbers guys who want to follow this. I had to standardize some numbers here for the sake of calculations. Of...
  3. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Update. We got our first machines running 2 days ago. Right now we only have 2 Innosilcon A9's running. We are mining Zencash at this point and profitability is about $2500 per machine, per month. We have 6 more of these machines on order right now. 2 should arrive in the next week or so. 2...
  4. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    No. You don't bribe in Estonia. They are rule followers to a T. Sent from my VTR-L29 using Tapatalk
  5. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    BTW, reason 12,365 the Estonian e-residency program is complete bullshit. Absolutely zero privacy.
  6. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    In Estonia, all company information is publicly available. This publication intentionally trolls public data for items just to write articles. They clearly have an agenda. The irony is that using my and my business partner's names in a publication is against EU privacy laws. This is why...
  7. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Just had a funny situation related to this business worth updating you guys about. In May, my business partner and I registered our company in Estonia. He lives in Estonia and has residency, and I am an e-resident. This allows us to register our company online. Typically, this goes against...
  8. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Our first batch of hardware is the Innosilicon A9 Zmaster. You can see it here: Innosilicon Equihash A9 ZMaster Initially we are planning to mine ZenCash. After extended conversations with the founder of ZenCash and his team, I determined this coin to fit our goals and long term strategy...
  9. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    So I wanted to give a few updates. This past week has been a bit crazy. We received our first shipment of A9 miners in Estonia. However, they are still sitting in customs waiting for clearance. First, we found out we needed a special registration number to import goods from abroad. So we...
  10. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Honestly, e-residency is a waste of time. It's a great marketing gimmick with virtually zero value. I've been an e-resident for many years (I was one of the first ones). They promote it as a cool, simple way to open a company and bank accounts. What they don't tell you is that it is...
  11. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Those seem pretty accurate.
  12. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    LOL. That is a BTC miner, not ETH. The payoff on that machine is around 2 years. Not a great deal IMO.
  13. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Multiple hardware wallets.
  14. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Once the buildout is done, I will post some photos. Until then... Estonia is a cooler country. We don't need ac. On one wall, we will have big vents to push out the heat. The racks that hold the miners will sit about 1.5m away from the wall with the vents. On the back of the racks will be...
  15. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Not a bad idea. I tried to buy a mine in Georgia (country) a few months ago. Unfortunately the owners bought all of their hardware (around 200 rigs) in December...lol. The literally bought at the peak of the market and the hardware companies always adjust pricing based on coin prices. So...
  16. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    I would love to say we have some magic formula on this. But alas no. Correct, calculating profitability is fairly straightforward. You just input the $/kwh, hashrate, W usage, and cost of infrastructure. Easy peasy. Unfortunately crypto doesn't follow any rational model for predictions...
  17. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    We also started with gpu mining with another partner. Now have a couple thousand gpu's humming and heating a warehouse.
  18. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    We already to gpu mining at our other facility. I have absolutely zero interest in investing anymore resources into gpu mining at this point. GPU rigs are much more finicky to keep humming and require more intensive labor. They are also much less profitable and take up more physical space...
  19. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    As noted above, we chose Estonia for our mining operation. My partner and I spent a lot of time and energy researching Georgia (country) due to their crypto friendly regulations and low power costs, however we opted for Estonia for a few reasons. #1- I live in Latvia which is just a few hours...
  20. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    For a small operation it is doable, but you should get an electrician to your house to make sure your wiring is capable of handling the power consumption. Most likely you will need to invest in some wiring upgrades and a new power panel with 50a breakers. You need to consider heat dissipation...

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