Buy Or Mine Bitcoin?
I’ve long advocated keeping 10% of cash in bitcoin.
One can simply buy bitcoin or mine it. Typically profitable mining requires scale, a steady stream of equipment, and cheap or free electricity. But a more convenient way is cloud mining. With ARK Mining you can start cloud mining today. I deposited just over $200 worth of bitcoin and signed up for both the $50 Free Bitcoin Mining and the $200 Bitcoin Experience Project. To make sure I understood the mechanics, I withdrew the funds, sending USDC to Coinbase without a hitch. More on mining here — The bitcoin halving and miners (part #1). Bitcoin mining is my favorite answer to the question “what would I do with free or nearly free electricity?” but I’m unsure whether I will scale up cloud mining. Everyone should own at least some BTC but it is often easiest to simply buy it, especially now that you can buy it in a convenient spot ETF such as Fidelity Wise Origin Bitcoin Fund ETF (FBTC).
