$10,000 a Month in Passive Income Detailed Breakdown
PASSIVE INCOME
On January 1st, 2016 I made a decision to find and start investing in different passive income streams. One of those streams currently pays me over $10,000 a month. In this post I will explain in detail the investment amounts and current payouts. The income stream that I will be writing about is cloud mining.
CLOUD MINER
The cloud miner I use is Genesis Mining. All mining hash power was purchased using Bitcoin sent from my Coinbase account. Coinbase allows you to buy cryptocurrency using US dollars. Below is a breakdown of the current hash power on my Genesis Mining account.
BITCOIN (BTC)
I have slowly bought BTC mining contracts through Genesis Mining since December 1, 2016. BTC contracts are open ended, which means as long as it is profitable for the site to mine BTC you will continue to receive daily payouts. All dollar amounts are rounded down. There is an earnings snapshot at the end of each breakdown.
The current BTC hash power on account is: 507.25 TH's
The price paid for 507.25 TH's: $64,372.00
Total amount paid back to me from BTC contracts: $51,609.00
Last 7 payouts: (if 1 BTC = $2,500.00)
11 June 2017: 0.15406748 BTC $385.00
12 June 2017: 0.15379145 BTC $384.00
13 June 2017: 0.15017575 BTC $375.00
14 June 2017: 0.15009144 BTC $375.00
15 June 2017: 0.14747314 BTC $368.00
16 June 2017: 0.14010283 BTC $350.00
17 June 2017: 0.14389119 BTC $353.00
Average payout per day: $370.00
DASH
I bought two year DASH mining contracts through Genesis Mining. I bought 200 MH's on March 14, 2017 and 2000 MH's on April 29, 2017.
The current DASH hash power on account is: 2200 MH's
The price paid for 2200 MH's: $9,860.00
Total amount paid back to me from DASH contracts: $4,487.00
Last 7 payouts: (if 1 DASH = $150.00)
11 June 2017: 0.42936943 DASH = $64.00
12 June 2017: 0.49085141 DASH = $73.00
13 June 2017: 0.43498614 DASH = $65.00
14 June 2017: 0.35490315 DASH = $53.00
15 June 2017: 0.29141176 DASH = $43.00
16 June 2017: 0.32671364 DASH = $49.00
17 June 2017: 0.35909759 DASH = $53.00
Average payout per day: $57.00
ETHEREUM (ETH)
I bought a two year ETH contract on May 25, 2017. When buying contracts through Genesis Mining you can choose to mine one crytocurrency and have it payout in another. My ETH contract pays me in BTC.
The current ETH hash power on account is: 350 MH's
The price paid for 350 MH's: $9,650.00
Total amount paid back to me from ETH contracts: $1,430.00
Last 7 payouts: (if 1 BTC = $2500)
11 June 2017: 0.02337841 BTC = $58.00
12 June 2017: 0.02514897 BTC = $62.00
13 June 2017: 0.02900827 BTC = $72.00
14 June 2017: 0.02996147 BTC = $74.00
15 June 2017: 0.02829515 BTC = $70.00
16 June 2017: 0.02687811 BTC = $67.00
17 June 2017: 0.02695647 BTC = $67.00
Average payout per day: $67.00
BUY/PAYOUT SUMMARY
Total average payouts from all mining contracts over last 7 days:
BTC = $370.00 a/day
DASH = $ 57.00 a/day
ETH = $ 67.00 a/day
Total daily crypto payout: $494.00 a/day
Total monthly crypto payout: $14,820.00 a/month
Total invested into mining site: $83,852.00
Total paid back to me from mining site as of June 17, 2017: $57,526.00
You can expect the payouts to decrease overtime due to mining difficulty increases, but if prices continue to rise for cryptocurrencies then that should not be a problem.
CONCLUSION
Cloud mining is a great source of passive income. You buy your contract, then sit back and collect your payouts every day. I am continually searching for other forms of passive income. I want to add as much value as possible to the steemit community. I see great things in the future for crypto.
If you join Genesis Mining use my code when you buy hash power for 3% off: XbGJgo
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Very Good Post..i m new in steemit. follow me pls
I am thinking about cloud mining but still have some doubts, one question: if genesis-mining have so much machine power, farms to generate different coins, why would they share that power with others instead of just mining and earning total result?
With the current prices of crytocurrencies on the rise you will receive your initial investment back within about nine months. They do take a cut of your mining profits, but it still remains extremely lucrative. Genesis Mining does have a CEO and CFO that is very active and their faces are out there for everyone to see. There have been a lot of scam sites, but Genesis is considered one of the safe one's. I encourage everyone to do their own research. Do not invest more than you can lose, and do not invest blindly. Hope that helps!
nice post :)