I answered to someone else, at least I do not think it was you @CryptoFreak, that I want to 100% control everything related to my Bitcoin mining adventure, regardless of the cost of my electricity which is higher than some and lower than some…Yea I wish it was closer to $0.08 kwh and not $0.12 kwh.
I also posted under the what did you to today column, that while I am not profitable now, if I sold my bitcoin to pay electricity, as Bitcoin rises, that same Bitcoin will be worth more than the Electrcity cost.
Just recently I took a number of stocks that I already own and put them in multiple “buckets”. Each of those buckets will be sold, if I need the money, at a specific point in time, these first four Buckets are slated to be sold the 1st, 2nd, 3rd and 4th quarter of 2030 (6 years from now to let appreciation and compounding, reinvestment of dividends, etc… do their jobs). So I know I will have the Electric bill paid for througout 2030, now…I know this now. My intention going forward is to do this same thing with a hodgepodge of invesments every year, so next year I need to take care of every quarter in 2031. Between this year and next year, perhaps I can purchase some more investments to cover the quarters in 2029 and start working my way backwards to 2026 or 2025. Lets say for easy math, my two circutis of miners will cost me $12K per month. Then I only need to sell enough investments each quarter to cover 3 months or $36K. Very doable. Basically if 2 circuits require $144,000 per year in Electricity to run and Bitcoin hits $432,000.00 per coin, I would consider selling 1 Bitcoin to cover 3 years of Electricity costs…this is how I plan to get through the next halving also. Once I turn all my miners on, it is my intention to run them until they can’t be fixed any longer, then replace them and keep running…
Since I paid for my monthly Electricity with $USD that is documented as reducing in value by 10% per year, in the future, when $BTC goes up, and we all believe it will, that fiat $USD money I used becomes a net positive for me going forward, rather than the net negative it would have been, had I kept it in $USD fiat OR if I paid for my Electricity with that mined Bitcoin.
Now just this weekend, I moved money intended for the down payment on a car into an Account to purchase some $BTC, so that when it goes up, not only will I have that “down payment”, I will also have 2 months worth of mining Electricity pre-purchased (money to pay my Electricity on my mining Bitcoin for 2 months).
Since I plan to mine $Bitcoin for the remainder of my life, which sadly will end, but happily before the last Bitcoin is mined, my new focus is to put enough investments aside to pay my utility bill through 2030. I just pulled that date out of the air. Helped that many believe 1 Bitcoin will be worth either $1 Million, $10 Million, $30 Million or more by 2030.
Since my mining farm business will be combined with a Trust and a Foundation, in the future I will be able to borrow against my own $BTC at low interest rates, that I set myself for my busineess, Invest that money in whatever I can at a higher return (they way the rich do with Insurance Policies today) And use my investment returns to pay the Electric Bill, Taxes, Buy more Bitcoin, etc…
Oh one last thought, allot of Miners that I would send a rig to, are in Texas, don’t know if you are or not. But just watched the Texas “Blockchain” person (don’t remember his exact title) state that Bitcoin mining is good for the Electric grid in Texas, they use our excess energy which helps support the Texas Electric Grid and when the Electricity rate goes up to like $0.20 per kwh, they shut off their miners, which also helps the Grid.
I am thinking that many companies mining with containers near Electric sources in Texas would turn off miners long before the kwh reaches $0.20 per kwh. I laughed when I heard that number, believe most in Texas doing this are getting between $0.06 and $0.08 per kwh…
Have a question for you, others might be interested to know, If I am mining with say a Bitmain Antiminer S21 with your company or a company your recommend that I send my miner to, at what kwh price would you cut off my miner and save me money?
Not just curious, like #voskcoin, I am considering sending a couple of miners to someone to do this, but will wait until I have maxed out my 1st 220 circuit before doing so. I figured the max, given 80% loads, of miners I could have would be 14. I subtracted by one or two, figuring some overhead for fans…
So if I have an extra miner, instead of waiting until I can afford the 2nd 220 circuit, would send them to someone to mine at a cheaper electricity price where my Bitcoin could be sold to support the expansion of my mining “farm” company. So seriously, I may be looking for your services or the services of someone you recommend in a month or two…first have to max out my circuit and know that I can pay the Electric bill here.
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