Over $75,000 in Hard Drive Mining... How did that go...
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- เผยแพร่เมื่อ 1 ส.ค. 2024
- Hard drive mining was supposed to be one of the most profitable forms of mining, after Bitcoin mining, so I added hundreds of HDDs to my basement and then eventually a shed... These hard drive mining rigs and my mini DIY data center for HDD mining cost more than $75,000, how has it really been mining the Chia cryptocurrency, actual mining profitability, and was XCH mining a good return on investment ROI? Buy your own here - voskco.in/evg
VoskCoin Was Hard Drive Mining Worth It? Article - / was-hard-drive-mining-...
Buy the VoskCoin Tails Edition Chia mining rig here - voskco.in/tailsxch
Jusey also makes plug and play Chia HDD miners - voskco.in/jusey
ASIC Marketplace is the best place to buy miners - voskco.in/am
The best Kaspa miner to buy right now is this - voskco.in/ks3m
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Use code VOSKCOIN to save some COIN!
Chia has the highest emissions compared to its marketcap for a cryptocurrency, far surpassing Bitcoin, Dogecoin, Kaspa, and many other crypto coins -- so with hundreds of thousands of dollars of new coins mined per day, or farmed, on Chia XCH, I became intrigued with building my own hard drive mining farm. Evergreen and Jusey made plug-and-play HDD mining rigs to make it even easier to mine Chia, and compressed plots have allowed for xch farmers paying attention, to be able to increase their passive income earned from their hard drives even further... but has HDD mining really been worth it, has hard drive mining actually been a lucrative endeavor, or is this investment still many years away from even breaking even... let's review the VoskCoin $75,000 HDD mining farm data center, and if it was worth it.
⏰ Timestamps ⏰
00:00 Mining Crypto with HDDs for 1 year - was it worth it?
01:17 My history mining with HDDs
04:43 How Evergreen changed the game for Chia mining
07:02 Expanding my Evergreen mining setup
16:04 Adding to the HDD Mining shed & the Tails Edition
21:47 Chia XCH performance & mining difficulty
26:10 What's the goal of the HDD mining shed?
32:30 Annual HDD mining review - Pros & Cons
39:18 Was the HDD mining shed worth it?
45:50 Is HDD mining doomed?
49:13 Outlook on HDD Mining in 2024
VoskCoin social media, forum, and Discord - voskco.in/24
VoskCoin is for entertainment purposes only and is never intended to be financial investment advice. VoskCoin owns or has owned cryptocurrency and associated hardware. VoskCoin may receive donations or sponsorships in association with certain content creation. VoskCoin may receive compensation when affiliate/referral links are used. VoskCoin is home of the Doge Dad, VoskCoin is not your Dad, and thus VoskCoin is never liable for any decisions you make.
#Cryptocurrency #Bitcoin #VoskCoin #PassiveIncome #HDDMining #Chia #XCH #workfromhome #investing #selfemployed #entrepreneur - วิทยาศาสตร์และเทคโนโลยี
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I'm a Chia miner but should warn anyone that's interested in starting that profits will plunge once the Chia halving occurs next month, unless the price somehow goes up significantly. Since it's not listed on major exchanges such as Binance and Coinbase, I don't see prices pumping significantly anytime soon.
I want to use my Chia mining starter rig for a different project. I'm looking into it. Maybe use the HD in a game computer and re purpose the Raspberry PI to another project. My plans.
How do you sell your chia coins
Mining2024
@@jccooluser SimpleSwap to Bitcoin is one option.
Folks not in the USA have quite a few options.
Chia has gone up quite a bit lately - but it seems to be getting driven more by Bitcoin's rise (like MOST cryptocurrencies) than any news of it's own.
Profitability right now after the halfing is pretty close to what it was 6 months ago, but seems to be slowly fading again.
Brilliant video you mentioned a lot of my own thought when it comes to mining
I hit one Chia block when I was solo farming. They're kinda neat and a nice surprise. I use the gui, and it was like, huh? What's that deposit? Aside from that, I get my few pennies a day from pool farming. lol
Makes me sad when I think of its all time high back in the day - around 1400 bucks!
Crazy. I remember when you had those evergreen miners in that basement, or wherever. lol It's been a while, and you've come a long way!
👍
I mined chia last cycle. Got 2 coins mined before they started pools, but each hard drive needed re seeded when pools got announced. Now I have a crap ton of hard drive collecting dust, lol
External drives? How much?
Use them for Filecoin or other coins man
super happy hitting a block myself too, very lucky for my 3tb setup!!! 😀
75k on hard drive mining is pretty insane. I mean you do you but i feel like thats pretty risky for a single cryptocurrency
VoskCoin hang in their brother, as you know i do not like XCH because it seems too much work with too little gain, and buying pre-plotted pre-built doing the math years ago made it pointless as XCH price will never get back to its HTA, XCH is like RTM both are what they are today and may never get better than 5-7x, for the amount invested on pre-build system i just never see the value in it, with that said you already have a load invested 75k would buy you 2,500 XCH but you got that is hardware so just keep doing what you have been and hope XCH 30x and you’ll still make out good.
Good Luck!
Put more immersion tanks in there and do both. You should consider doing vertical panels so you can continue farming.
Best of luck, Vosk!
That rant about outworking and problem solving.... I get that. Huge advantage. If only people tried a little harder.
You built a great tax break! :) Luv the content and your great attitude!
upvote Tails if you made it to the end!
🐶
I love what you said at the end: If you're never in a position to win, you literally will never win.
I've dipped my toe in mining the past two years, and I keep thinking it would have been way easier to just buy the coin if I believe in it. I'm sure this has been addressed ad nauseum, but what I've earned mining in the past two years, I could have easily just bought instead, in one day without flinching w none of the headache.
Same. Learned the hard way. lol.
If you are planning on it going up to turn a profit, you are better off just buying coins and hoping they go up. Your ROI is so long, most your investment won't have produced, so your potential gain is much lower than it could be. And if it never goes up, many drives will likely fail before they pay off. So you have about 4x less upside, and a similar downside.
I've hit 18 solo blocks over 2 years and 16x 14tb drives full of plots. I have a frame that can hold 34 drives total and i think once I fill those up i wont be adding anymore drives and just harvest from here on out. I belive in XCH but my outlook was 10 years from the beginning.
You have a datacenter. If your not making money mining maybe start a long term cold storage datacenter. If AWS new associate "Data Engineer" certification is any indication of whats coming. There will be a lot of data to store.
I agree with you on the resale value of the hard drives. I think in The long run it will pay off especially if there is another project that comes out to pivot to if Chia dumps. But I hope chia moons and all your hard work pays off.
The only other active "hard drive mining" project is Signum, formerly known as BURST.
It's a joke compared to CHIA.
How many price of one piece
Do you give tours? Would love to fly out and show you my BTC mining financial model - could help with your business planning
Would not suprise me there would be a new coin that works also with Harddisks in the future..
LMAO @ Booger flicker 😨
You should have seen my desktop during the early chia days... two of the fastest sabrent ssds in raid 0 with like 32 core ryzen cpu just plotting away. It was a crazy expensive computer just to plot quickly. It's all not worth it now with evergreen.
for 50k you could have built out a more profitable and reliable HDD farm yourself.
More like 25K using used enterprise-grade Hard Drives and used servers - which commonly will have a decade or more life left in them.
Thanks for that rambling, but honest breakdown of your HD mining experiment.
It highlights the reality of how risky and short lived mining and farming can be.
You have a diminishing ROI over time as you rush to pay off your investment before you can claim any profits.
You also have a few short years before equipment fails.
You also have the unstable market along with halving cutting into your profits.
Then you go all in and start to mine the sun with a solar farm in order to squeeze more life and profits out of a dwindling HD asset.
You also mine TH-cam by investing your time in making content.
Seems the old adage is true; 'The only people making money are the ones mining the miners'
If you have free electricity and free miners, you are set to make a profit... the only hope for the rest of us miners is this bull run will be epic!
Go CHIA! PS - recomend you lift your sheds a little higher (like 1 cement block at least) off the ground so they last longer...
Some of that newer stuff is scary becuase the talent makes life changeing money and can walk ! Lol
But that should hit 1k again
I did chia in 2021 evergreen is really the way to go. When I did it it was DIY and making the plots is very time consuming and it requires a very very fast pc with really fast ssd setup to do it quickly. Infrastructure required to do it isn't worth it. That alone makes evergreen worth it.
The problem is though is that XCH is on shite exchanges that no one uses. Going to be hard for it to make a run up in the bull market for that reason alone
Love how he wore a green shirt for this video too lol
It’s the little things lol
Power consumption is major factor why average person can't mine anymore these days. Most people don't really have the service to support anymore then maybe 2kw continuous.
My biggest problems with minning over the last few years has been hardware failure. A bad gpu or asic card can kill your profits for an entire year.
Im a bit confused about these chia prebuild devices, it almost seems like the plots are already completed. Which means the devs have the keys because the only way you can have plots is if you created the key. If this is true, this is a terrible idea to buy these. I started the first day it went live and had to have a massive server (48 core with multiple enterprise ssd's) to create the plots and it took 2 months to fill 500 TB of storage. One little pie miner isn't going to fill 4x 18tb drives very fast, which means you won't be winning many blocks.
Mining is fun Vosk! We all seem to do it and some of us got into it because of you. We all know the risks hence why I'm $15k in debt lol...but unlike you I didn't have that money laying around so I wanted to create the coin. But if I did have the money I would have used the $50k to buy BTC when it was back down to $16k... because now you would have close to $150k in the positive. Imagine investing that money in something like Kaspa back many months ago.. you would have like a million bucks right now. I never understood why people with money don't just invest it in crypto and just have a few miners to keep the channel going. The channel could have also been a mix between mining and investing.
Hey Drew. We were able to get put on schedule C in West Virginia. With first energy. So with all the fees and everything we're at about 7.5 cents.
I'm paying just over 4 cents were I am at - 5.2ish base rate AFTER all taxes and meter fees etc, then a 20% Senior discount.
Nice where is that? What state?
@@PaulBeriault Central Washington.
There are 3 counties with a PUD each that owns 1 or 2 of the big Columbia River hydropower dams.
They are the 3 lowest power rate areas in the USA - but Chelan County charges cryptominers a "special" rate that is WAY higher, and Grant County is almost as bad.
Only Douglas County offers their regular rate to Cryptocoin miners the last couple years - the hard part THERE is finding a space to rent.
@@bricefleckenstein9666 Wow, I looked at the property and it is hard to find.
@@PaulBeriault What property?
If you're talking about the counties, Grant County is one of the largest in Washington, Douglas is pretty close in size and adjacent to the NorthEast, and Chelan is anchored by Wenatchee right near the middle of the state and just west of Chelan.
My last bill was just under 4.3 cents/kwh after everything - 124.48 on the bottom line after taxes for 2909 KWh usage in 33 days.
Talked with Grant of Evergreen a couple years back when he was trying to selling me on it and just quick napkin match in the middle of the Mining Disrupt exhibit space, and had to tell the guy, like, dude no one is ever going to have this be a lucrative venture. When it takes you 3.5-5 years to break even, using HDD's with a 4-6 year life cycle before replacement, you're never going to get ahead.
Is there a good miner to buy for 400 euros or dollars?
Roll your own. MUCH less $$$ expecially if using used Enterprise hard drives like the HGST "Helium" line (now branded Western Digital) or Toshiba similar gear.
At this point, you just have to cut your losses and move on. You would be better off selling all your hard drives, and buying Chia. I picked up a ton of these back in the day to farm Chia and really do not like where the project is going. I moved on to other more exciting projects.
Ok… the Amish electrician sounded funny. Like military intelligence
Vosk...in the trenches every day lol your funny. Ya I just ran calculator on chia eh...it may have been profitable when you started but these days the roi is pretty terrible not to mention the halfin.
Ideally really chia will double in price atleast in halfin I would expect atleast 30% increase.
Chia has a 'halving' in 2024....so I've made zip with these units in 5 months at about $2.5k in cost....I've made $298 in unsold chia tokens...:)
How do you keep all your mining profits straight for the tax man?
I have gotten good support from both evergreen and jusey, so no issues regarding support, still far off ROI though
I got a 2,5pb farm for 25k euro...
fot 75k you can buy 2500xch this ammount you wont ever farm
The only person that's done good out of this is Evergreen. Man I've said it before and I'll say it again you need to get solar'd to the max slash your costs by 50% across the board. I bet you could do it for free if you sold your chia farm!!! :o :D
Why do my comments keep getting deleted?
spam filter is picking them up then, I'm not deleting. them
I feel sorry for you Vosk.
I’m beginning to think that some of these folks are right that the only ones making money are the ones mining the miners. #letsstartamovement
I don't like see all of those wires running through your studs. Why not make a separate channel for your power cables?
Man that solar farm vosk is going to cost you a fortune to generate power your currently consuming.
Wind turbines might be cheaper and more reliable
@victorstyles5694 ya idk maybe but you don't always have wind as consistent as sunlight. I'm just trying to image how big this solar field will need to be. Just 50 bitcoin miners running 24/7 is roughly 3,600,000 watts in 24 hour period. Divide that by 400 watt panels is 9,000 panels but now you gotta account for 10hrs of no sun light so your talking 18,000 panels if not more. Idk how feasible this really is.
At cost of 200$ a panel that's 3.6mil in panels alone.
What I'm getting at vosk is the juice really worth the squeeze here in solar. That's a substational investment that I don't think your going to get ROI on. Your better off getting 5-10mw service and getting rate as low as possible.
If it wasn’t for TH-cam income you’d be bust
Starknet is close boys. Hope our VPN’s work
convert some HDD's to mine STORJ coin
Success is getting what you want, but happiness is wanting what you get. Success is easy but good luck finding that happiness..
I like Chia but is down 95%
Next coin please
What machine will mine cryto in an apartment?
If better off just buying weekly then trying to mine rn. It’s not as lucrative unless you got a 5k-12k rig. Other then that you will earn about .50-2$ a month for getting a 400-700$ miner
Jasminers are good, low power, low noice and reasonable rewards
I'm a Chia farmer and I'm quite happy with where its at for one simple reason. I'm not farming it for where it is now - I'm farming for where it is in 10 years. The tech behind it is simply unsurpassed amongst other cryptos at the moment and as soon as the real world adoption occurs (which is pronouncedly different from other cryptos), the sky is the limit. Its use case is different from Bitcoin, it's different from Ethereum so it has it's own niche. If I'm wrong in a decade, I'm wrong and I'll admit that but until then, I'm diamond handing it all the way.
What Vosk doesn't generally say is what is the use case for Chia. Why would people pay to use this over SIA/Filecoin/Burst?
Chia patriot
Chia was not touted as "the most profitable" - and then you use EXPEN$IVE Evergreen miners.
Much lower cost to "roll your own" even with older server hardware like the DDR3 generation Supermicro 36-drive and 72-drive machines, which are commonly going to cost you LESS THAN HALF of Evergreen's pricing and probably more like a THIRD for the same capacity with even a little price shopping.
Okay DIY it then, many will not and want a plug and play, that’s the point of this video
@@VoskCoin Plug and play has been a "higher cost" option through most of Cryptocoin mining.
Normally a bad idea financially, except when working with ASICs where you have no choice.
HoW mUcH mOnEy CaN i MaKe MiNiNg cHiA ?!?!?
$1 a year
Just enough to learn to use normal spelling...
Zero
Disk defragmenting....
Not necessary. Chia Plots take huge chucks of space which means very little fragmentation to begin with. Also once you plot you arent moving plots around so nothing getting fragmented.
chia price - 98% 💩💩💩💩💩