“What’s Electricity Cost?” Nigerian Buys Bitcoin Machine That Gives Him $8 Daily, Installs It in His House

• A young Nigerian man showed people the Bitcoin miner that is steadily giving him $8 (N6,244) every day in profit
• Mentioning the name of the device, the man said he installed the miner in his house as he plugged it into a power source
• A crypto expert who Legit.ng spoke to was of the opinion that mining Bitcoin in Nigeria would eat much electricity cost

A young Nigerian man bought a Bitcoin mining machine called Anitminer S19. He revealed the mining activity of the device gives him $8 (N6,244) daily.

The man (@shugadaddii_) showed the moment he took the miner to his house and installed it. He, however, did not tell how many hours the machine works daily to get $8 (N6,244) and the power consumption cost of running it.

Read also

"DM me if you want one": Nigerian man who launched electric bikes cashes out as people buy them all

Man made dollars at home

Nigerians thronged his comment section. Many were excited at the extra source of income the machine would give them.

During the installation, the man in a video showed how the machine was plugged into his system, which displayed the running activity of the device.

Is Bitcoin mining in Nigeria profitable?

Legit.ng reached out to a cryptocurrency expert, Ajuwon Aanuoluwapo, who said that making $8 (N6,244) daily with the mining machine does not sit right with the electricity costs.

"The cost of running a Bitcoin mining machine for 24 hours daily is not small, even if you are drawing energy from solar power. It is not an easy business in Nigeria. Even in advanced countries with stable electricity, it takes miners years to get good returns on their investment."

Read also

"You will pay for shipping": Man shows cheap tokunbo cars like Honda Accord going for N1.6m each

Watch the video below:

Legit.ng compiled some of the reactions below:

WavyNiggur asked:

"You make 8usd daily at what power expense?"

Vindrousy asked:

"That means if i have it up to 10 it will make 80$/day?"

The man replied:

"Correct."

CY said:

"Compare the expenses... no profit inside unless u have more than one."

Echebe Louise asked:

"How do I get one plz? I want it."

emmanuelihesi complained:

"The noise, the wifi subscription, the energy and power consumption is bad like mad."

Killerkadoo said:

"For this economy na watin go sure pass how much Abeg."

stanleychibs said:

"I just discovered Nigeria has miner Omo na to dey save."

seun said:

"What's daily average cost of the internet and electricity consumption for this miner alone. Minus it from the revenue and tell us the balance."

Ajayi said:

"Hope it’s solar you’re using sha."

Adesmith said:

"Show us way...Abeg me am ready."

Read also

"The solution to fuel hike": Video of men riding 7-seater electric bike trends, excites many Nigerians

Man earning N500k salary considered relocating

Meanwhile, Legit.ng earlier reported that a Nigerian man with a business that gives him a monthly profit from N400,000 to N500,000 got admission to a German school to study for his master's.

In an anonymous message to @Wizarab10 on Twitter, he revealed that he is in a dilemma about what to do.

Nigerian man cried after losing N157.2m

In other news, a Nigerian millionaire and real estate mogul, Daniel Moses, narrated one of the misfortunes he suffered earlier in life.

Daniel said he brought £150,000 (N157,224,750) back home to Nigeria. He invested the sum into oil and gas.

Source: Legit.ng