I watched the most recent video by VoskCoin that made a strong case against investing in rental properties. Rather than purchasing another rental, I’m seriously considering diversifying into crypto mining.
I’m looking into starting a small-scale crypto farm. While I’m currently out of my depth, even operating at 50% of expected capacity could yield solid returns. My goal is to use this time to build both the financial and technical knowledge needed to launch this properly.
Due to the high electricity costs in Illinois, I plan to base the farm in North Dakota. The setup would include machines like the Bitdeer SealMiner A2 Pro Hyd, although that may change as the plan evolves. For context, I come from a background in network engineering, IT, and systems administration.
Anticipated Challenges:
- Costs related to setting up a shed or structure
- Installation of 3-phase electrical infrastructure
- Specialized hydro cooling systems
I understand I’ll need to hire a licensed electrician and possibly a cooling system specialist. The land would be around 4 acres, not huge, but enough for this scale.
At this stage, I’m trying to determine if there are any major costs or logistical challenges I’m overlooking. If I were able to support around 20 of these miners, that would be a success in my eyes. However, I’m wondering: could that many machines strain the local power grid in a rural area like this? Also, initially likely only going to be able to afford like 4-5 initially, depending on cost of infrastructure.
Lastly, if it takes me a year or two to get things moving, would it be smarter to hold off on purchasing hardware until after the next Bitcoin halving?