So I just built my first small GPU mining rig last week and have been happily mining Eth since then. I would really like to expand and build more, and in all honesty I'd like to do it soon. The gains from my recent crypto investments would potentially give me the funds to be able to start, but practically I'm not sure how to proceed.
I live in a house with my wife and 9 month old son, and with a growing family, I don't feel like I can start loading the basement or garage with these things. And I don't think the wife would be wild about it, either.
And I have thrown around the idea, in my head, of renting some kind of warehouse/industrial type space, but all the places I'm seeing online are way too big, and I don't want to just sign a 12 month lease and have to go all out all at once. And I also just worry that places would not like the heat/noise/electricity use, so I'm really sure how to broach that either.
I also worry about the heat issues. I live in the Midwest (US) and it gets awfully hot and muggy in the summer. I'm a software dev, though, and physics wasn't ever my thing, so I feel like setting up cooling systems is sort of beyond me.
Anyone have any practical advice or guidance here? What would be your next step?
Max out any available 220V circuits you have available in your house. You can show the wife the proceeds and projections, and they usually jump on board.
My wife said it was all "fake money" until I showed her my crypto net-worth, and then started making all kinds of plans to spend the money. That was a mistake. LOL. I'm slowly trying to break it to her, that most of the mining proceeds go back into the "business".
At some point, you have to make the leap from "hobby" to "business". When you are ready, you will probably want that warehouse space, and to separate your ISP and electric bills so all that can be tax deductions to offset your proceeds. You will want to pay taxes. It's rumored that the IRS will be going hard this year, and with the new tax bill, you don't want to raise too many red flags unless you have your ducks in a row. Remember, with the IRS, it's guilty until proven innocent.
