by Wes Bewley
In the months and years ahead, it will become more and more important to secure passive investment incomes from multiple sources.
No one can predict what will happen to stock and asset prices in the near or far future.
We’re already starting to see inflation hit in the U.S., so everyone should be looking towards hedges against inflation, if they’re not already.
A little over a year ago, we purchased a ranch outside of Austin, TX, as a hedge against inflation and to create a place where we could have our own cows, rainwater, chickens, and to have a place to bring my sons in order to get out of the city.
But I didn’t want to pay for it out of our regular business income.
That’s when I began to learn about Bitcoin mining, and from there, things took an epic turn!
That was six months ago, and this is a pic from my Bitcoin mining dashboard yesterday on March 28th, 2022.
At the time of this writing, the crypto market is up, and as a result, so are my earnings for the last 30 days.
Now I don’t touch the machines or ever fool with them. I rarely even think about them.
They are fully insured, and I let the mining farm that I host them at take care of everything.
Typically, I just call a guy in North Carolina that runs the mining farm and say: “Charlie, give me two more machines.”
He and his team take care of literally everything from there.
24 hours a day, these little mining rigs that I call passive income robots are completing transactions all over the world and sending me more and more Ethereum and Bitcoin on autopilot.
Each machine ranges from $11,000 – $31,000 and typically cashflows $500-$2100/month…immediately & without tenants or broken toilets.
I love real estate too, just giving a contrast of the difference in assets from an operations standpoint.
Imagine if I called you and said, “Hey, I have these rental properties in Baltimore that are $15,000 and cashflow about $600-$800/month” How many would you want?
The above image shows you the last 30 days returns on mining and then the total since I started mining in late August. I started off with 2, then added 2 more, and so on.
Now I have 6 ASIC miners (Bitcoin) and 14 GPU miners (Ethereum).
Some months are stronger than others, but I’m always cash flow positive.
Now the ranch note is not cheap, but the passive income profits from these mining rigs more than pay for this property that consists of about 100 acres. I strategically chose this spot because of its location, live water on the property, rainwater collection system, and an epic view from the pool.
Why mine Bitcoin & Ethereum instead of buy it?
Of course, you could buy Bitcoin and Ethereum right now, but the market is rising. When the market is rising, I buy mining machines.
When the market is correcting or going down, then I buy more of the coins directly from voyager or coinbase (crypto exchanges) while my mining rigs keep right on turning out a profit in the background.
You always want to buy any asset on red days when no one else is buying. Even better if you can buy it when people are making fun of it, but it’s psychologically very hard to do unless you understand markets and cycles very well and are very confident in what the data is telling you.
The great thing about mining is, I don’t have to time the market because it’s like if you and I mined for gold…
If we mined gold, we would have acquired it with a little time, labor, & the cost of the shovel & pick but outside of that, it would be straight profit.
How are the mining machines actually making a profit?
Bitcoin mining earns money in the form of Bitcoin because it’s providing a service.
Think of it as a credit card processing machine for cryptocurrency transactions. Each time these mining rigs complete and secure a transaction, they get rewarded.
So you and I can earn money because our mining rigs (machines) are providing a service.
ExxonMobil just started mining, so if you own their stock, you are indirectly benefiting from this already.
Also saw today that BlackRock ($10 trillion dollar asset manager) is now looking at mining or buying crypto for their portfolio members.
If you’re interested in learning more, go to passiveincomerobots.com
This is a simple 6-step landing page that I made for family and friends to learn about it.
It takes about 2-7 days to get up and running, but once they turn on your first machine, it starts making money almost immediately!
Note: Because this particular asset is a computer with computer parts, you can even check with your CPA as it may be a write-off under section 179 of the US tax code, but I’m just a normal Joe and not an accountant or financial advisor, so check with your people.
Wes Bewley is an entrepreneur & investor from Austin, TX
Follow Wes for more tips on instagram @WesBewley (one word, no special characters).