Helium Miner just arrived, another income source acquired!

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Bobcat miner.jpg

I'm always looking for new methods to generate passive income with crypto. In July last year stumbled upon helium mining and decided to order one bobcat miner to give it a try.

Due to ship shortages and the massive demand for these little machines, my order took almost 8 months to arrive but it is finally here! I spent the entire morning setting it up. Unfortunately, the earnings are highly dependent on location, and the only place I had available doesn't seem to be very efficient so I might need to move it.
I'm flying in blind and learning how to maximize my earnings as I go along. I ordered another miner that should be arriving next month so I will be way more knowledgeable about the whole ecosystem before deciding on where to set it up.

I paid $593.67 for this specific miner and I'm hoping to make around $50 worth of HNT a month. It will take around 6 days to sync my miner to the blockchain so I will only know how much my location earns in about 14 days. There are some miners around me making over $100 a month.

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I'm going to write another post about Helium and how profitable my miner is once I gain more experience with it. For now, I just wanted to share with you the good news. My passive income sources keep growing and every day I'm a little bit closer to my retirement goals.

https://www.helium.com/ check out the website if you're interested in learning more, helium is a very interesting project and I'm very bullish on it. Lots of real-world utility and a very well thought out network, the amount of miners is growing at an incredible pace, every day new miners pop up near me, mining competition is growing and that will have an impact on the rewards over time.

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15 comments
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That is pretty cool. I have been looking at Helium for quite a while now. The idea is pretty cool. I don't think I have enough nodes near me to make it profitable. I live in a pretty rural area though all things considered. Are you able to pay for the equipment in crypto? That might be the clincher for me. I have spent $500 on NFTs that were worth far less.

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Rural areas work quite well here in Portugal since you have very little competition your rewards multiplier is higher and you can buy a different kind of antenna to expand your reach. You are only able to buy them with crypto, using USDC 😁

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Excellent. I have some of that. I just need a couple of my tokens to go up so I can handle the gas fees. Maybe by the middle of the summer I will make it. It looks like there are a number of people around me that have them. When I was looking at it, they were just using it for IoT traffic. Are there more use cases now? Which piece of hardware did you settle on? Is one better than the other?

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Still based around IoT, they have ambitions of tackling a decentralized 5g distribution network but that is still far away I think, and would require new devices. The thing that is gaining use cases is the HNT token itself with some new partnerships that burn it to use the helium network for various proposes https://www.helium.com/ecosystem.
I went for the Bobcat miner because it was the best one according to most sources I found online (youtube and a couple of forums).

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Thanks for the info! I will check it out. Like I said, I need some of my other tokens to recover a little first!

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Man, that’s nice! I was going to pick up a Bobcat 300 last year, then I got swooped up in Hive and haven’t thought of Helium since now. Thanks for the reminder and congratulations on the Helium miner!
!PIZZA

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I earn from 3 to 5 usd a day with mine. I mounted mine on a 30 ft flag pole in my back yard.

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Oooh, I've been wanting to set up one of these! I'm just waiting until we get to our proper home... But maybe I should just order seeing as there are huge delays!

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I searched about hellium last year and I liked the idea but the miner it is too expensive.

I am living in Vila Nova de Gaia and I think it will not be profitable to have a miner here.

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I agree with you the initial cost is VERY high for a simple piece of hardware. There's nothing special about the machine that explains such a high price tag!
Crypto has given us unrealistic expectations for returns. Even the ones that aren't paying very well (because of poor placement) still manage to break even after 14 months which I consider a pretty good return.

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Currently, I am already trying to do the break even in some investments like Axie Infinty.
So for know I will stand by a litle new investments.

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How much electricity it will consume in 30 days and how muvh Helium you are expecting to mine?

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very low, it uses as little power as a 5W light bulb, which consumes 0.12kWh electricity per day.
I'm expecting to mine a little over 2 HNT per month but I can only be sure after the first 14 days.

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