How I turned $1,000 into $140,000 with crypto mining.

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I have been dabbling in cryptocurrency since 2014.

I never took it seriously until 2017.

The crypto craze FOMO of 2017 swallowed me up and then taught me some valuable lessons.

Not only was everyone buying every hot coin they could get their hands on.

People were also buying computer hardware to build crypto mining rigs as fast as they could.

Myself included.

I learned some hard lessons about buying hardware at inflated prices once the bear market was in full force (don't do it).

But instead of saying "I'll never do that again," I thought "how can I take advantage of that?"

One way to take advantage is to invest heavily during a bear market in cryptocurrencies with potential.

Another is to invest in hardware when it's at rock-bottom prices.

I did both, but I'm going to focus on the second one.

I built more mining rigs from 2018-2019, but I also bought a few used and nearly "useless" machines.

In 2018 I bought a Bitmain Z9 Mini for $180 on craigslist.

I bought it to mine the crypto @PirateChain ($ARRR)

When I bought this machine it was barely profitable to run, but even at a slight profit, mining instead of buying a cryptocurrency is like buying at a discount once you break even on the machine.

I thought the @PirateChain project had a ton of potential, so I wanted to mine it.

So I spent $180 on the mining machine.

It cost me $1.25 per day in electricity to run it.

I ran it for basically 2 years at a total of $912 spent on electricity

Total I spent: $1092

So I spent $1092 over 2 years. What did I get for that money?

That netted me a little over 12,000 $ARRR coins.

Which as of right now is worth $139,725

When I was mining Pirate, the price was quite low, but I thought the project had a lot of potential.

So even with a crappy mining machine, I was still netting quite a few coins per day.

Upwards of 150 per week or more. Which at today's price was $1,677 per week.

Investing time, money, and effort at times when there is really only upside,

And at times when very few others are doing the same, can give you very asymmetric results.

I did this with Pirate, but I also did it with other coins and other mining machines in the past 3 years.

The lesson here is to always be looking for opportunities.

Especially during a time when most people are pessimistic about opportunities in a certain space.

Also, don't be afraid to think outside the box and do something that other people think is silly.

Like crypto mining.

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