Ep 41. Winter is coming?!❄️

<p>My wife and I typically do a quick getaway at the end of the year. It’s nice to ring in the new year in a new city but we also invest time to review our goals and set new ones. We hit all the big ones: relationship, fitness, financial goals and more.</p><p>This year, crypto has become a bigger share of our portfolio. We ramped up our investments and fortunately those investments have done well in the crypto bull run. We continue to think through how best to play in the space. </p><p>Six months ago, my brother-in-law and I started experimenting with bitcoin mining. I <a target="_blank" href="https://afolabio.substack.com/p/bitcoin-mining-for-dummies">shared about it in April</a>. Today, we will dive into the ROI of our bitcoin mining experiment and then address exciting developments in the cryptoverse. </p><p>REVIEW: Bitcoin mining with Compass🚀🚀🚀</p><p><strong>TLDR</strong>: We earned 60% ROI on bitcoin mining versus 29% if we just bought bitcoin</p><p>Background</p><p><a target="_blank" href="https://compassmining.io/hardware?gclid=Cj0KCQiAzfuNBhCGARIsAD1nu-_PURuDYTR9IOOYSBAghZXDckgAF7C07j52E6XgF1A9ignH6QC4894aAviOEALw_wcB">Compass Mining</a> offers a white glove service for regular folks looking to get into bitcoin mining. We purchased a miner (high powered computer) and had it installed at a facility in Nebraska. It took about a month for the miner to be delivered from China. We chose to host the machine at an industrial site instead of our home because they have access to much lower electricity rates. </p><p>We recently sold the miner to upgrade to a more powerful model. Felt like a good time to assess if the ROI of mining bitcoin was better than buying and holding bitcoin. </p><p>Numbers</p><p><strong>Case A: Bitcoin mining 💻</strong></p><p><strong>Costs</strong>: The miner cost $9,800 upfront and we paid $150 a month in hosting fees. Overall, it cost us $10,700 over the 6 months the miner was in operation. </p><p><strong>Revenue</strong>: We sold the miner for $12,469. Yes, you read that right. We sold t