Thread by @Melt_Dem

1/ time for another #Bitcoin mining update 🚀

i'm 56 days into my experiment. providing an update on profitability and *emissions*

see my summary below. i'll delve into each line item in the thread.

let's go 👋🏾

2/ bitcoin mined - @compass_mining gives me a link directly to @f2pool_official to view & download my machine stats

interesting fact - 87.4% of BTC is from block rewards and 12.6% is from transaction fees

every ten days or so, bitcoin gets deposited directly into my wallet!

3/ hardware - i've already covered hardware extensively in my original thread 👇🏾

the price of hardware has gone even higher due to massive shortages. at the end of Feb, my machine was worth 9k. it's now selling for 11.5k, used.

https://twitter.com/Melt_Dem/status/1370516881459798027?s=20

4/ my opex calculations

the Compass fee covers the hosting facility and power costs, and you can see all of their facilities 👇🏾

on the power side, my miner is using ~3.25 kw / hr

24 hours for 56 days means 4368 kwh used thus far

compassmining.io/facilities

5/ carbon offset!

i don't know the source of power for the facility and the power grid doesn't distinguish between sources of energy, i assumed every since kwh used was generated from coal power generation

note the US energy grid is about 9% renewables. china is at 20%.

6/ i used the @EPA's greenhouse gas equivalency calculator to find the emissions associated with 4,368 kwh of electricity.

apparently it's 3.1 metric tons of CO2.

epa.gov/energy/greenho…

@EPA 7/ i then purchased 4 tons of carbon offsets for $80 via the gold standard marketplace.

i selected an offset focused on replacing cooking stoves in India with lower carbon fuel. it was $19 / ton.

you can see my certificate here - verifiable proof!
drive.google.com/file/d/1vMYW7T…

8/ so far, so good on my returns, but there's much more here than money

i've learned so much from this process

and the joy of seeing hundreds of thousands of sats (sats = smallest unit of #bitcoin) being deposited into my wallet on a regular basis is just thrilling

9/ buying #Bitcoin is cool, but real g's

- support bitcoin development by giving to @mitDCI, @bitcoinbrink, @HRF's fund etc

- support the bitcoin network by contributing to global hash power (what i am doing w/ @compass_mining)

- run a full node (easy mode w/ @getumbrel)

10/ ALSO important disclaimer!!! (sorry compliance)

i'm an investor in Compass via @CoinSharesCo Ventures and my personal holding company, and i'm a board director.

this isn't financial advice. DYOR.