Are you looking to set up your crypto mining rig right here in Australia? In this case study, we meet Jason – a small business owner and client of Armitage Electrical who built his crypto rig farm here in Brisbane.
In this case study, Jason talks about how he got started, his biggest lessons and why it’s important to pay attention to your electrical set up if you’re planning on mining crypto seriously.
If you’re eager to create your own crypto mining rig, reach out to the team at Armitage Electrical for assistance with your power and cooling set up.
What’s your background, Jason?
I used to work in IT at Bendigo Bank, helping customers with the banking app and customer service. I transitioned into crypto mining after teaching myself about the crypto world while simultaneously doing IT work.
How did your crypto mining journey begin?
It started during a stress leave, and Covid-19 timing played a part. I was a gaming rig builder and had an array of components. Once the ‘crypto bull run’ started, I realized I could mine crypto using gaming computers. From there, I expanded from one to multiple gaming rigs. The main challenge was power and safety, as I found out when my power bill went from $300 a quarter to nearly $2000.
Why did you choose Armitage Electrical?
I needed to incorporate commercial wiring requirements into a household setting, something most electricians couldn’t do. Cameron from Armitage Electrical had the knowledge and skills for the job, accommodating my needs at a reasonable cost.
Is it worth getting into crypto mining now?
Yes, if you view it as a hobby. You can start with a small rig. However, if you’re planning on serious mining, you need proper infrastructure, especially from a safety perspective.
How much should people invest in a small rig or a business?
A decent hobbyist rig could cost around $5000. For a serious crypto mining business, be ready to invest at least $50,000 on equipment and another $10,000 on electrical upgrades.
Would you advise others to upgrade their electrical setup?
If you’re seriously considering crypto mining, you’ll need a triple-phase upgrade. It’s also better to have a dedicated circuit for your mining rig to avoid any power-related issues that could bring your mining operations to a halt.
What’s a big mistake to avoid when starting out?
Don’t get caught up in the ‘gold rush’ mentality. Always calculate the return on your investment, and ensure you have a competent electrician on hand who can handle commercial-grade wiring.
Ready to set up our Crypto mining rig?
If you’re in North Brisbane and want to set up your crypto mining rig, Armitage Electrical is ready to assist with your power and cooling setup.
Armitage Electrical are your fully qualified and licensed, trustworthy, professional and reliable electricians North Brisbane.
With all-inclusive up-front pricing, Armitage Electrical provides the highest quality electrical, maintenance or repairs on hot water systems, switchboard and mains upgrades, and pool and shed wiring for your home North Brisbane.