If you’ve been following me on social media for a while, you’ve known that this is not the first time that I’ve tried to mine bitcoin.
Many moons ago, you could find me mining blocks on a desktop computer. Those times have come to pass and I took a break with the release of ASIC hardware as it was scaling really quickly. And I didn’t have the means to run the equiment.
At the beginning of the pandemic, I managed to gather enough funds to purchase four of the latest ASIC hardware devices.
It wasn’t long before I realized that I was deep in over my head, and that the operational costs to reward ratio was unfeasible for long-term production mining in a residential base location.
Without alternate power sources, the latest ASIC hardware is really dedicated for commercial use.
That’s not to say we can’t mine at home.
Canaan Inc. a NASDAQ publicly traded company, has released an Indiegogo campaign to acquire backers for their new endeavour, the Canaan Avalon Nano 3 home based miner.
A very small and effective home-based minor that only requires a maximum of 140 W power consumption with a mining difficulty ratio of 2.4-4TH.
It produces sound levels of a round 34 decibels, which is a very quiet piece of equipment to say the least.
I’ve managed to acquire one of these devices from the Indiegogo campaign, and plan to operate it. Once it is received, and I will share a unbiassed to review with a comparison to my experiences with the top of the line ASIC Hardware that I was running previously.
I’ve been blessed to have acquired a small scale, solar panel system to be able to operate this without any utility costs, which is what destroyed our project last time, as utility based bitcoin mining in a residential location in my area with my power rates is just completely unfeasible.
I’m excited to explore this new Avenue and see what it unfolds. I’m excited to share more information about Blockchain mining and assisting others with learning and sharing information that makes it more effective for the every day person to get involved without a large amount of funds being required to make it productive.
Stay tuned for more updates on this project as things progress.
I will be sure to share an update once I receive the hardware and I’m able to get it running.
Don’t forget, you can get free bitcoin every hour through my affiliate, freebitco.in !
