General

Crypto Mining For Beginners | $1,300/Month | Intro To Canadian Ethereum Mining



This video breaks down how I constructed my first crypto mining rig. I began mining ethereum just a few months in the past, I solely have 1 rig thus far, which contains of 8 GPUs, Nvidia 3070 Founders Version. The method is fairly straightforward to be trustworthy, its probably the most passive revenue/funding I’ve ever had, its fairly worthwhile proper from day 1, assuming the worth of ETH stays excessive, the extra ETH goes up, the quicker I will have the ability to break even.

Listing of web sites to make use of, no affiliate hyperlinks/codes:

Crypto Mining For Beginners | $1,300/Month | Intro To Canadian Ethereum Mining

New Movies Each Week – Subscribe Right here:

Comply with me on Instagram:

Comply with me on Twitter:

Hey guys, welcome to the channel I am a full time Chartered Accountant in addition to a component time Actual Property agent with a background in finance, investing, budgeting and naturally, actual property.

I have been on a private mission for the final 10 years to construct a number of streams of revenue, together with each passive and lively revenue. On this journey, I’ve gained a ton of area information about private finance and investments that I’d like to share.

My aim for this channel is that can assist you perceive primary taxes, private finance, investing, budgeting and expense administration.

Related Articles

39 Comments

  1. Hello, Nice video! I have a question. If I am doing mining as a business, can I reduce the cost of a graphic cards (100%) or i can only write off 55% of it as CCA. I am from Canada. thank you

  2. Hey Bassem, as a 15 year old with a part time job do you believe it's a good option to invest in at the moment. I am also from Ontario and considering the prices of GPUs here it seems to be a tough option, however I wanted to take your opinion. Thanks man

  3. Hey bro, I’m from the gta as well. Are you providing any services of helping people set up their mines or offering 1 on 1 counselling for whatever fees?
    Thanks.

  4. Hi Bassem, thanks for your time helping with this mining subject. I'm registered on Minestat but something is wrong with the firewall or antivirus. I can't start mining yet, I tried to fix it but I can't. Can you advise on this please or make a video. It's highly appreciated.

  5. Awesome video! Trust me this is the best ETH mining video which I found on YouTube for Canadians. I am also going to start ETH mining. Don’t really care about ETH proof of stake (I think they are going to be late lol). I have a couple of questions:
    1. Can the same hardware be used to mine ETH classic?
    2. How did u manage to get 8 GPUs from Best Buy as it’s 1 per house hold. Did you use friends and family? Please share your tips. Thanks

  6. Hi Bassem, I am starting this month with 2 rig similar as your the first one with 8 X RX580 total 250 Mhs in ETH and the second not full with 2 X 3070 non-lhr FE same as yours and 2 X 3060TI non-lhr FE for 248 Mhs in ETH so my total look like same as your 496 Mhs. Do you still at 1300$/ month, I heard that the difficulties are higher now so less $$ (sorry for my english I am french canadian from Qc). Note: My enclose casing is ordered with silent fan so I will be able to keep the 2 rigs into my baseman without too much noise. In winter that will help warming the house and during summer it's cool down there so no need too cool down. Thank you to share, I love all your video's 😉

  7. Thank you for such great information. It seems like spider miner is out of stock, I was wondering if you know any other place to buy mining rig in canada?

  8. Sorry if I missed it (playing this in the background), I know you are making $1400/month CAD doing this from the beginning of video, but how much electricity are you using a month? I am just wondering what the overall profit is per month after expenses (mainly electricity since GPU, etc. are one time purchases)

  9. Awesome video my friend. I am a fellow Canadian, looking to do the same thing… Mine a bit of crypto around the clock.
    I plan to do this, as I learn more and more about this fascinating asset, or increasingly important asset class… Cryptocurrency. Hey, what better way to learn, then to have some skin in the game. How challenging was it to put everything together, hook it up, and connect to the network? Anyways, thank you for the video.

  10. Great vid, I’m looking at GPUs and some have 1 fan like the ones you have and some are more expensive with 3. I’m looking at getting the same unit you have from spider miner and using the same GPU you have but in 3080, will I need the more expensive ones with the 3 fans? Totally new to this but want to try it.

    Thank you

  11. Great video. I have read that all Nvidia cards produced after May 2021 will be LHR, have you read anything about your pool being able to optimize these cards to unlock the hash rate?

  12. Hey Bassem, Nice video as always, I've got 2 questions for you
    How often to you convert in CAD thru a KYC intermediate ? and also
    Will you write off the equipment you bought against your 1300$ monthly ?
    Thanks !

  13. hi all im new to the country, for now im building up for my emergency funds just incase for future use. after reaching that goal i would like to learn about this mining crypto (passive income potential) and start saving hmm as a start maybe up to 5 Vcards budget set up only. i was told crypto mining in canada is not technically legal (true?) which i m really clueless but ive came across this video so maybe this can be done afterall. for now while i dont have the budget yet i will just be around watching these videos, thanks….

  14. Hi Bassem, long time viewer, thank you for doing what you do. For a few of us who are just getting into mining, it would help if you added a step by step and the accounts/software involved, I have seen a lot of shady pool sites. I was thinking to start off, I'll use my gaming PC and then possible dive into getting a rig.

Leave a Reply

Your email address will not be published.

Back to top button