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Mining at Starbucks? $875 Mini Miner Revenue: Losing $6 per month

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Mining at Starbucks? $875 Mini Miner Revenue: Losing $6 per month

The founder of the Bitcoin mining machine sales platform BitcoinMerch, Idan Abada, is dedicated to making mining more accessible to the public. In a video, he is seen mining at Starbucks using a mini mining machine, which has gained popularity on TikTok, bringing him closer to his goal.

$875 Mini Mining Rig

Idan Abada's mining journey began in 2015 when he found the Bitcoin mining process too complex. In 2017, he founded BitcoinMerch to sell mining rigs, parts, and other basic equipment.

In an interview, Abada mentioned that the platform has generated $428,000 in sales so far in 2021, a 355% increase from the previous year. The best-selling product is priced at $875, called the "NewPac," which is the mini mining rig he uses to mine at Starbucks.

"NewPac"

The "NewPac" mini mining rig is developed by GekkoScience. Its base integrates 10 USB slots and a fan, with each slot supporting two ASIC mining chips and only requiring power from a computer or laptop's USB slot.

This is also why Abada can mine at Starbucks, as shown in a video that has reached 2.7 million views so far.

Although not as problematic as professional mining rigs in terms of space limitations, noise, and power consumption, this micro-mining with "NewPac" makes profits seem inefficient.

Losing $6 per Month

Abada calculated the potential mining earnings:

  • Monthly output: 0.0002478 BTC
  • Monthly profit: $9.35 after deducting pool fees
  • Monthly electricity cost: $15.84

Abada revealed that the potential loss at the end of the month would be approximately $5.88. He believes that profitability is challenging unless there is free electricity.

While using free power sources in public places like coffee shops or libraries may seem attractive, in reality, if the earnings remain the same, the $875 mining rig would still need over 7 years to "potentially" break even. This would require the mining rig to remain intact and operational throughout the process.

However, Abada emphasized that all this is aimed at making mining more accessible to beginners. In the future, he will focus on helping beginners in the mining field worldwide to set up mining equipment at home.