Friday, December 8, 2023

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

This video breaks down how I built my first crypto mining rig. I started mining ethereum a few months ago, I only have 1 rig so far, which comprises of 8 GPUs, Nvidia 3070 Founders Edition. The process is pretty easy to be honest, its the most passive income/investment I’ve ever had, its pretty profitable right from day 1, assuming the price of ETH stays high, the more ETH goes up, the faster I’ll be able to break even.

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

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Hey guys, welcome to the channel I’m a full time Chartered Accountant as well as a part time Real Estate agent with a background in finance, investing, budgeting and of course, real estate.

I’ve been on a personal mission for the last 10 years to build multiple streams of income, including both passive and active income. On this journey, I’ve gained a ton of domain knowledge about personal finance and investments that I would love to share.

My goal for this channel is to help you understand basic taxes, personal finance, investing, budgeting and expense management.

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  • 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

  • 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?

  • do you have to mine 24 hours

  • Hey Bassem, What is this rig bringing in these days? I've done a bit of research on the hardware you are running and seems the profitability has gone down.

  • Great video man. I also made a vid on mining with nice hash, doing a small channel plug 🙂

  • Can anyone explain me A-Z about mining and mentor me a bit?

  • 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.

  • You could change the fans

  • Man I would be amazing g to run this in a condo with no extra hydro costs

  • Great tutorial! I get a coming soon banner when I land on the Spider Minner site, how can I reach them?

  • 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

  • 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 😉

  • Hello bassem I have been looking for miners but they are so expensive around 8k please guide me through which one is best to buy

  • appreciate the free knowledge man, wishing you good health and happiness!

  • could you mate a ventilated box with sound proofing?

  • 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?

  • T

    What about taxes?

  • 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)

  • Hey, it's nice to hear that you went into crypto mining and the video is nicely done. But we didn't know where you set it up without paying electricity ? 🙂

  • 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.

  • Hi brother,how much in total. If I wana set up from scratch

  • Thank you very much for sharing the knowledge. I just subscribed to your channel. Do you offer one on one training?

  • I want to buy the thing and start..can u please suggest

  • 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

  • Hi Bassem – storing the rig outside in the backyard during Alberta winters – would it survive? Also, is it so loud that it would disrupt neighbours?

  • Jesus Christ you would of been better off just buy eth and hold it for 6 months then mining it ….

  • Hey Bassem, thanks for sharing this. When you said you store the rig outside what exactly did you mean?

  • Great video man you got the sub, I'm from MB and thinking about setting something up to mine Ethereum. Do you know when Ethereum 2.0 is coming out ?

  • 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?

  • 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 !

  • 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….

  • 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.

  • Can I mine if I am from another country?? Do I have to be Canadian or in Canada to mine using those sites??

  • 110v in Canada, is it enough power for eth mining? Do you need any extra power generator something like this?

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