Being a full-time crypto miner is the dream of may crypto enthusiasts, but rising power costs and higher difficulty levels are making the dream remain just that. However, one Redditor has gone viral after he switched his homemade crypto mining farm to solar power and saved a whopping 75% in electricity bills. Known as Candese on Reddit, the post quickly accumulated more than 2,800 upvotes as follow Bitcoin mining enthusiasts congratulated him on his stellar work of running a home mining operation.
Renewable Energy is Leading the Way
When reducing costs to a minimum is key to remaining profitable, using renewable energy goes a long way in helping the cause. A recent study found that more than 77.5% of all power used in crypto mining comes from renewable sources – a powerful factoid. This helps to keep the cost of mining Bitcoin lower than ever before and it also helps to keep the carbon footprint to a minimum. Attaching solar panels to your home in an optimal configuration will allow you to generate low cost electricity and run your own mining farm and turn a decent profit – just like Candese.
Home Mining Setup Raided
Unfortunately for a small few, police have been raiding homes over fears they are marijuana grow sites. One man in Australia learnt the hard way as police destroyed doors, fences and gates in order to raid his home. The police had a warrant as the property showed the same signs as a marijuana grow site, but in fact he was mining cryptocurrencies. Grow sites and mining farms both use intricate cooling systems, create power spikes and have unusual levels of traffic coming in and out of the property, making it easy for police to make a mistake. Despite this, police could have knocked and asked for a tour of the property rather than destroying his home.
Crypto mining is still a popular activity for many hobbyists, and a number of cryptocurrencies remain financially viable to mine – even without solar panels. Several sets of ASIC mining rigs are still highly profitable, allowing you to turn a tidy profit while you sleep, work and play. If more miners can follow Candese’s lead and switch to green energy, we will see the crypto mining world become more decentralized and once again retaken by the hobbyist miners. Keep up the great work Candese!