I’m DONE Solo Mining Bitcoin… Here’s Why

In this video I talk honestly about my solo Bitcoin mining journey and why I’m starting to move away from it. ⛏ Power Pool https://geni.us/PandaPowerPool The Best Profitable Mining Pool for your Miners! use Referral code RPM for 0.5% pool fee off for 3 months Over the past few years I’ve tested dozens of small Bitcoin miners including Bitaxe, NerdMiner, Avalon Nano, Octaxe and more. Solo mining Bitcoin has exploded in popularity, but when you actually look at the numbers the reality is very different. There are over 20 million Bitcoin already mined, leaving less than 1 million BTC left to be mined over the next 100+ years. On average only about 20–25 solo Bitcoin blocks are found each year. That means over the next 114 years only around 2,500 solo miners may actually find a Bitcoin block. For most people running small solo miners, it’s basically a lottery. In this video I explain: • Why solo mining Bitcoin is so difficult • The real probability of finding a block • Why I’m selling many of my small miners • Why larger ASIC miners like the S21 XP make more sense • The true cost per terahash of small miners • Whether Bitaxe miners are actually worth it I still love solo mining devices and think they’re great for learning and participating in the Bitcoin network. But after doing the math, I’m changing my strategy. Let me know your thoughts in the comments — are you solo mining Bitcoin? ⚡ Contact / Hosting / ASICs contact@redpandamining.com ⛏ Power Pool https://geni.us/PandaPowerPool The Best Profitable Mining Pool for your Miners! use Referral code RPM for 0.5% pool fee off for 3 months 💾 Red Panda Tangem Wallet https://geni.us/rpmtangem use code RPM for 10% off! 🚀 Bitaxe Gamma's and other SOLO Bitcoin Miners! https://geni.us/Ddn1Mmz code RPM for 5% off! 📻 Fluminer T3 Bitcoin Miner https://geni.us/PDUSfZ code RPMRPM for $30 off ⚡️ Avalon Q https://geni.us/atRhHZ code RPM for 10% off Chapters: 0:00 Why I'm Ranting About Solo Bitcoin Mining 1:18 PowerPool Sponsor 2:37 Shipping Problems From Canada 3:55 Why I'm Re-thinking Solo Mining 4:11 Only 1 Million Bitcoin Left To Mine 5:01 How Many Solo Blocks Are Found Each Year? 6:01 Will I Ever Find A Bitcoin Block? 7:22 Are Small Bitcoin Miners Worth It? 8:45 Dollar Per Terahash Problem 10:22 Why I Want Bigger ASIC Miners 11:39 Are Bitaxe Mods Worth It? 13:21 Small Miners vs Big ASIC Miners 14:30 Bitcoin Miners As Home Heaters 16:16 Blocks I've Actually Found 17:14 Why I'm Ending My Solo Mining Journey 19:00 Are Solo Miners Just Selling Shovels? 21:22 The Real Question For Solo Miners Trusted Crypto Mining Hardware Shops https://www.redpandamining.com/trusted-hardware-shops/ FOLLOW RedPandaMining ► Twitter - https://twitter.com/redpandamining ► Instagram - https://www.Instagram.com/RedPandaMining ► Twitch - https://www.twitch.tv/RedPandaMining ► Reddit - https://www.reddit.com/r/RedPandaMining ► Discord - https://discord.gg/dNsvjf3qFD ► Website - https://RedPandaMining.com Talk with ME 1 on 1 https://redpandamining.shop DISCLAIMER: Red Panda Mining is not a financial advisor nor an expert. This is not financial advice. Everything said in this video is an opinion. The statements in this video are not investment advice. This video is intended solely for educational and/or entertainment purposes only. Always do your own research before investing in Crypto Mining. Never invest more than you can afford to lose. Red Panda Mining is not responsible for your losses or gains as a result of buying, selling, trading, or mining cryptocurrencies. #bitcoin #bitcoinmining #solomining #bitaxe #cryptomining