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Iowa Bitcoin Mining Farm Tour- How much Money does it make?
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- čas přidán 15. 08. 2024
- An Iowa Bitcoin Mining Farm Tour! This is a bit unusual video, but as Winter is approaching I wanted to get out and make a couple different vids. This Mining Farm was started in 2019, and is working with the Grid to use the excess energy that's available on the Grid. The miners work out a low-cost energy contract in exchange for shutting down the mine whenever the Grid get's close to peak usage (Load Shedding). This is a 6MW site, and they're planning to add on another 4MW site in the next couple of months.
There's Miner's all over the world doing the same thing, developing new ways of turning unused/excess electricity into revenue. Eventually, the miner's that can find the lowest cost energy tend to be the most profitable, which will end up being a lot of renewables or stranded energy that can't be transported to market!
The Bitcoin Miner's that I used in the profitability case are Bitmain S19 Aintminer's 95th.
Mining Store Website- miningstore.com/
Instagram- www.instagram....
There's a ton of Fake/Spam Comments on this video. Anyone watching this- do not fall for any of them. As Naval says, "there are no get rich schemes. That's just someone getting rich off you".
how would they even wanna try and scam, i mean this is a farming channel, not an investment channel
Thanks man, people are so annoying that do that
U need any workers?
Can I pay you to host my miners? Also in Iowa!
For the algorithm. Likes, comments, shares, and subscriptions help your content creators more than you realize. Keep it up Grant!
Hey Grant, just FYI: In our area if we have excess energy on the grid we pump water uphill into a dam to store the energy...it is very, very rarely wasted. When we want the energy back we just open up the dam and run the same water through the generators. I know that doesn't work everywhere (like the Great Plains), but through you'd appreciate some larger context.
Heck, never heard of that! That's pretty dang interesting! Where are you located U.S.?
@@granthilbert5632 Practical Engineering did a video on this stored energy method.
Thanks from my soul dude !! Today you make my dream real! It’s so unbelievable I have 2 BTC now! Thanks Thanks Thanks !!!
Glad we have you young guys to handle all that stuff. As an old guy I have no idea what you were talking about and what all that stuff does.
They will not delay your payout and will not waste a single minute to have it processed, this is something I truly admire about there team
Thanks for showing us what bitcoin is like. Always wondered how those miners and stuff worked. Great vid Grant!
You should do more videos like this during the winter and farming during the spring and summer
Magnus is the man! You’re just getting started brother and so is bitcoin! Keep it up 👍🏻
ive been heavily looking into investing into bitcoin and into bitcoin mining. now ive stopped the video at 13:04 and ive realized; you have about 30.5% of your money going into upkeep and basically for buying into the business (for lack of a better term). but thats still before you take away the power costs. so i am very curious on a couple things. 1. how efficient and fast the machines are on finding bitcoin. 2. 2. what is your monthy/ 6 month/ and yearly net income. and 3. how long with how much you invested into the "business" will you get a full return and start making straight profit. I love your mindset. your head is exactly where mine is (no pun intended lol). Farmland will forever be a large, increasing in value, long term investment. weather you farm it for yourself or rent it out you still have the value of it growing while making rent or crop money off of it. And for you, it lets you do what you love, which is farming. i will forever be a huge fan. I first started watching your videos on the squad channel when you were at about 25k subs and i love watching you grow and make THE smartest financial investments possible. Keep up the great work Grant!
Issac, Sorry, I may have not explained it the best. Yes about 30.5% of total revenue is going back to costs etc. This is if you want it to be passive. I don't do a single thing to the miner's, the technicians do everything.
As for returns & how efficient they are at finding bitcoin. I have that all in then video. Watch towards the end of the video when I show a chart of the monthly profit. That profit when all expenses are paid. So on average 1 S19 95th Bitmain miner net returns about .12 bitcoin yearly. That would be the end profit, but does that not include the appreciation of the miner if you wanted to sell the miner.
The only investing one does in the business, is buying the miner's. That's it. Basically it's a service they provide for you.
Think of it as a Custom Farming Operation. If you want to make the decisions to have your land custom farmed, you go out and pay someone to plant, spray and harvest. You get to decide when to sell the grain etc... and you don't have to invest in all the equipment to produce the crop.
That's exactly what is happening here. I buy the miner's and the bitcoin are "custom farmed". (Technicians taking care/handling the machines for me)
Maybe not the best analogy, but hopefully you get the point.
@@granthilbert5632 yes I finished the video, and it made a lot more sense and you were pretty clear. your analogy was also spot on. so, if I understand correctly, essentially, the investment is going into the bitcoin miner not necessarily mining the bitcoin itself. mining the bitcoin itself just keeps you "afloat" if you will, but for lack of a better term the more "experience" the miner gets the more it's worth, which is what you're investing in. that makes a lot more sense. please correct me if I'm wrong lol. I love to learn and understand new things, especially ones that make you money! thank you!
Love it, I am 22 and love seeing another guy my age who is motivated like me to do great things. I mine as well but at my home. I do good for a 22 year old I would say but im no grant Hilbert LOL but wish there were motivated individuals around me like him to keep each other sharp and pick each others brains. As always well done Grant. You are absolutely killing it. Keep working everyday!! Best of Luck!
I’ve been cutting up coins into small bits for a year but nobody seems to want to buy them. I must be doing bits of coins wrong???
Thanks so much for the video. I want to learn more but just can't get my head around it yet.
Yeah, it seems they are mining air. I just don't get value coming from something non-tangible.
Thats cool!Keep up the outstanding work as always! Im still a little fuzzy with this but its neat, also you have come far with farming and building it!Do you plan on extending the farm or getting another tractor? Hope all is well! YEEYEE and have a good one!:-)
This was really fascinating, great job on your vids. when will you have another vid out?
My dad said that he is a big fan of your youtube videos
For all you’ve always done for me I respect you so much, lucky to have you sir.
Interesting, thank you Grant. I’ve been trying to learn as much as Bitcoin miners as I can, this helps.
I guess you’ve gotten urs ?
Hey Grant, good video with lot more information. I have 3 L3+ running in my house. do you sell single S19 pro 110T? if yes please let me know i can buy couple of them.
Could someone realistically expect to ever solve a block and get a bitcoin with only one or two miners? You broke the numbers down on a per machine basis and it looked like a 1/8 chance that a miner will yield a bitcoin in a year, but that’s coming from a large bank of miners.
Sorry I missed this point in the video. All Bitcoin Miner's go into what's called a "Mining Pool". This pool calculates how much Hash Power each Miner put into the pool, and then pays out accordingly to hash power.
Analogy- You and 9 other friends want to win the lottery. So to increase your chances of winning the lottery. You each buy a lottery ticket and all agree that if one of you win the lottery, you will each get 10% of the total pot. Since that's how much money you invested.
Same-thing with Bitcoin Pools- The Miner get's paid on how much hashpower they put into the pool. This allows all miners to get paid on the exact amount of "hashpower" that they put into the pool.
Super cool. Wouldn't it be cool if someone figured out a way to dry corn, or heat a farrowing barn with the waste heat off of these babies?
That would be pretty darn cool. I've heard of a guy heating a hot tub with one! He calls it the SPA-256!
Oh, and I have a business degree too - keep up the good work! The world needs more young farmers and your an interesting take on it. This bitcoin thing stinks of...how did he put it? "Wild West"...yeah, I'm not one to go mine in the gold rush, because the people who consistently won sold food and equipment to the miners back in the day. As the saying goes: "mine the miners". My hunch is the BTC mining industry will continue to grow and consolidate, just like every other industry. Unlike production agriculture you don't need a ton of land, knowledge, experience, grit, determination, perseverance, and love of pain to play. So naturally, the barriers to entry are so low, the industry will have no choice but to edge out the smaller producers as an ever growing pool of miners compete over an ever shrinking vault of Bitcoin to mine...then they all just fight over the fees? Am I missing something?
You hit it pretty dead on 👍. There's a lot of people mining bitcoin independently, which I totally support. As more and more people mine, the mining difficulty increases (coded into the protocol, adjusts every two weeks). Eventually the only people that will be profitable to mine are the one's that are running on renewables energy (free) or the ones that are negotiating excess energy contracts at scale.
Would not be surprised to see nation states start mining bitcoin. Fiat currency's are on the edge of collapse over the next decades. 98% of a time when a country goes over 125% debt to GDP they've defaulted nominally or in real-terms. A couple months ago the U.S. was over 130% debt to GDP. It's lower now, now that we are running negative real rates of close to -6%.
When one thinks of the next possible global reserve currency potentials- Bitcoin, IMO is pretty dang high on that list. Perhaps higher than Gold, as Gold failed back in 1971 through paper derivatives (USD). With BTC there's no need to create paper derivatives, when it can he sent anywhere globally at anytime for almost nothing. And the lightning network (layer 2) can transact instantly at no-cost. It's got a lot of potential. Exciting stuff!
Very interesting Grant. The first thing that came to mind when you showed the facility was SECURITY. There is a whole bunch of money sitting there. I bet the copper alone could keep a group of meth-heads high for decades. I assume you either utilize a stout security system or someone pulls security full time.
Well this was an unexpected video but I love it
The solution to the power issue is Nuclear.
or coal
Nuclear is a great idea but it costs a fortune to maintain (so does other sources). But, where do we put the nuclear rods since there radiation levels are highly dangerous and leak if put underground.
@@paulrademacher there is already a facility that can hold all our nuclear waste for like 20k years that is not used due to politics.
Also don't forget about the hundreds of nuclear powered warships that have been sailing all over the world for decades without incident.
Thinking about purchasing two pods; what would be a fair price to pay to rent/lease the ground? Thanks
Great video! Very interesting look inside an actual mining operation. Thanks for the explanations and break down of the profits/costs!
Hey Grant. I’ve seen you in the area so I’m sure your familiar with Lake Red Rock. If you don’t know what they did, the past 5-6 years, that had construction on the dam. They turned it into a hydroelectric dam so now when the water goes through the dam, it goes through these huge fans and that produces electricity
Thanks for standing on your word. congrats goes to
me this time using them has makes me a good
business man with there bitcoin mining service
I have just started a CZcams channel and I have done a lot of looking and it seems if it takes off it can be profitable. I was wondering if you could make a video about profits and what it takes to make a successful channel.
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his WatsAp.... ✙15854406925
Trent Hart's daily signals are profitable, accurate and well timed when executing trades, For once I finally enjoy trading once more ✅.
My colleague is increasing his portfolio with Trent Hart's strategy so i believe and trust it, i can't wait to get my paycheck and buy bitcoin and then start.
Absolutely… Trent Hart's daily signal is very profitable!!.
Trent Hart helped me to understand technical analysis, now I can examine the current chart and predict which way the market will go, He is definitely the best pro trader I know.
Great video, doing a cost analysis to see if it would be worth it to me. Lots of fantastic info in here.
I as a 18 year old farmers kid from denmark is looking into kinda maybe having som miners or investing in bitcoins because i can not live with having to pay 1% of all i earn just for having the money in my bank account but i just dont really know how to get started
Grant is is possible for a guy to invest in this site just by writing a check or would a guy have to supply the equipment?
I've been looking into bitcoin for a while now. An I've noticed there's a lot of different options out there. I guess I was just kinda wondering how one just gets started in a similar mining set up.
Love watching your videos an have learned a lot as am I a first generation beginner farmer.
Thanks Grant, getting a bit coin education was very interesting!
I guess you’ve gotten urs
Great video explaining it. Might have to look into Bitcoin more to understand it
Dang dude. The vid looks cool but don't have time to watch it sadly. Thanks for the great content!
Awesome video!!!
The power shut offs that you’re talking about is in south africa where I live 😅
Now I understand how u make money and are able to afford to develop farmland
I'm honored to have this team around me in this hard time,
thank you always supporting and helping me to get MONEY
easily, i really appreciate
What type of internet speed is required to run a single miner?
Hi Grant
How can I start investing in this kind of enterprise? Thanks
Thanks for doing this video and a insite to what you do
Great video, really well explained.
Grant, how does this farm handle getting connectivity? What kind of a connection (mbps) is required to service a farm this size?
It would probably be gb or higher not mb but yeah ide like to know that aswell
This is so amazing to have such earning platform with no stress, Now I can relly on my money to work for me from home I don't have to work hard just to receive a token at the month end, nothing is as awesome has living a luxury life without any bill to worry about ..thanks for creating such an amazing platform at this critical situation of the world
How can I find these guys in Iowa? I'm from the area and would love to learn more
The one thing these guys will never answer is acquisition of said miners. Been interested in this for a couple years, asked many times, they only ever say, if you only want a couple miners we can't help. Frustrating
Thats Crazy i didnt know this existed!!
Good one!
I remember you talking about bitcoin in your video how I made money to start farming
Thumbs up !
Do u own that farm
can i buy one or do i have to buy many this is very interesting
Are you personally involved in this or did you just showcase his business?
I personally starting buying Miner's back in August 2020. So yes, I own some of the miner's at that site. They run the site, and manage the miner's and then I give them a percent profit that the Miner makes. It's called a managed mining agreement👍
@@granthilbert5632 Awesome! Thank you!
@@granthilbert5632 thanks for sharing your thoughts and knowledge of this operation!!! I am electrician bye career but now retired …
I think 6 mega-watts is enough energy to power something like 3,000 homes for one year. I have trouble conceptualizing what happened to the person who originally purchased the bitcoin. If I mine 5 bitcoin did someone lose 5 bitcoin? And so am i not basically stealing someone else's property?
I am by NO means a crypto expert, but I understand the basics of how it works... So here we go. Grant might be able to elaborate / correct me further.
So Bitcoin was designed with a fixed number of coins available to be mined - 21 million to be precise. Until a coin is mined, it isn't available for purchase. Nobody originally "purchased" the bitcoin that are being mined. Once that bitcoin *IS* mined, the miner can choose to either hold it or sell it on an exchange where it enters circulation.
Think of it like mining an actual natural resource.
New here. Can someone please explain what all this about? I am lost.
Hey grant is bitcoin world wide? because i live in South Africa and I want to start doing bitcoin.
Yes, Worldwide!
@@granthilbert5632 thx for the reply man
Hey grant any chance u could make a new map for fs22
New sub ❤
Can we travel to your farm ,please
Unsubscribed. You even took down my post about other ways to store engery? WTF?
Some really good insight and info into that whole world. I would’ve liked to see some different breakdowns of variable pricing and outcomes, to better understand the viability of actually doing it. Seemed to have just ended abruptly
Good question, the Mining Store has a few scenarios that I remember looking back in Aug 2020. Obviously those have completely changed now.
One thing I did not mention is that there's a 2 week mining difficulty adjusting in the bitcoin protocol. Basically it say's that every 1% of hashpower that comes on the network (new miners), it will become 1% as hard to mine bitcoin. So for example in June, China banned bitcoin mining. China miner's made up roughly 50% of the hashpower. Because they all had to shut off and search for a place to be plug them in somewhere else across the world, there way roughly a -50% mining difficulty adjustment. Which means that it made us 50% easier to mine bitcoin or 50% more profitable until those mining rigs found someplace to be hosted at.
You’ve only factored in appreciation of the computer. Surely there would be depreciation as it’s an asset with a limited life span. ROI excluding this appreciation would be far less.
I could be wrong here- don't mean to sound like a smart ***, but if an asset has appreciated when you go to sell it, then there would be no depreciation? For accounting standards they may look at it a different way though. Not sure. You're correct about limited life span, but if you sell it right now, the asset would have appreciated rather than depreciated.
@@granthilbert5632 no you’re quite correct Grant. I’m no accountant but if an asset would be obsolete by year 10 then you would need to factor in its depreciation over that same period. Whether you straight line that depreciation or write off in the last 5 years is all down to which accounting standards you adopt. I was just trying to reconcile the viability of bitcoin mining. Factoring a short term appreciating asset with a limited life span could be dangerous when assessing viability.
Grant this is amazing content that you don’t always get on CZcams! Please keep us updated on your Bitcoin farm as time goes on it is very intriguing to say the least. I personally own Bitcoin via trading apps but would love to maybe get into the mining aspect. A video solely on how to maybe get started into Bitcoin mining would be appreciated as I do my own research on the side it is nice for someone to dumb it down I guess like you can do for the everyday person to understand!
Morning grant
You should really make a hunting video
wonder what the carbon foot print of this plant is while making fake money
What's fake about it? You can send a billion dollars in 1 transaction to anyone in the world with no middlemen and no trust system with bitcoin. Think about the carbon footprint of our current world financial system: all the people that are employed at those banks, managers, custodians, all those buildings in NYC and other major city centers, all the wars started to prop up the dollar as the world reserve currency... the list goes on.
@@DiddleDangle money that is recognized by what state authority exactly? All you need for you cash to vanish into thin air is a dead hard drive or exchange hack.
Tremayne you are so good to me I appreciate your effort have gotten my grant
Well this was different. Pretty cool tho
Hey Grant love the content have you ever thought of getting into live stock farming?
I’m pretty sure Grant already has income outside of farming that would surpass anything he would make doing cattle. Also he is very busy and cattle take a lot of time. 👍
What is bitcoin
i use to believe these fascilities were being put across the world for the sake of independent bitcoin lovers. there is more likely a higher global interest than bitcoin behind these places. its a good reason to build them all though and have news for why theres so much energy being consumed everywhere. hodl though right. that farm exists to strengthen your soveriegn rights and wait what?
I didn’t catch the reason the site was moving. Is it because of a better deal on the energy cost?
There's a limit on how much energy the substation can put out. Since these guys are adding additional Miner's (4.5MW), they have to go add them to a different substation about 10 miles away. They're not moving, just expanding the operation.
@@granthilbert5632 thanks Grant
8:03 LOL
Nice!
very confusing
Well..... I think I will continue farming in the usual way 🚜🐄💩
@@Michael-8903 same haha
Wow
ooooooo in likeeeee happy new year have a nice and farming day #farmsim19
Hey man highly interested in work I’m from Fairfield iowa
lots of maintenance costs, I will start better immersion mining
Cool but what an absolute waste of energy
I want to take sometime👋 to thank you sincerely for increasing my Bitcoin balance recently knowing you and your team are really helping the needy in the state….
Its a huge drain on the environment!!!
I still don’t understand Bitcoin.
I cherish you 👆👆forever with the way you keep helping the poor people with your real working Bitcoin generating-mining software that truly generate Bitcoins thanks for saving me from scammers and giving me the real working software..
This is why I can't afford to build a pc.
There aren't GPUs. They're ASIC machines👍
Jesus the ad spam in these comments are terrible
U need any workers? Brampton younging tryna escape the rat race. Bless
Doge coin gang
All this for digital Monopoly money.
*Never and never will I doubt her ☝️✊the best 15btc gotten with ease*
I don't have a clue about what's going on here. Sounds interesting
How does a guy go about learning more.
Is this how you made your money
Grant ??????
I'm at retirement stage of my life
But could use more income.
This is so confusing to a guy who knows absolutely nothing about crypto
Huh? WT.......
I guess you gotten yours ?
I know absolutely nothing about this?
Speaking for myself, I have absolutely no idea what I just watched .
Sadly, the US Government hates crypto it would be cool if more farmers did this although I don't think bitcoin is the best Ethereum is where it's at.