The summary of ‘I Built This Crypto Mining Phone Farm’

This summary of the video was created by an AI. It might contain some inaccuracies.

00:00:0000:08:51

The YouTuber details setting up a phone farm for mining cryptocurrency using Samsung phones. They discuss mining Verus Coin (VRSC) and Ferris Coin, a privacy-oriented project with a unique consensus algorithm. They talk about profitability calculations, including power consumption and revenue, with costs per phone averaging around $51. The speaker shares a decrease in net profit per day after factoring in phone costs, highlighting a break-even time of around four years without a fan. However, using a fan reduces the break-even time, leading to lower phone temperatures and increased hash rates. They touch upon reasons for building a phone farm, such as low startup costs and potential profitability, expressing excitement about the project and inviting viewer engagement.

00:00:00

In this segment of the video, the YouTuber shares details about setting up a phone farm for mining cryptocurrency. They have 30 phones, a mix of Samsung Galaxy A03s and Samsung TCL A3s. The phones were purchased from Amazon and eBay, costing around $40-$50 each. The YouTuber also talks about the shelving, accessories like charging cables and stands, with total costs for all items averaging around $51 per phone. They mention additional items not included in the cost summary. The YouTuber uses their phone farm to mine the cryptocurrency Verus Coin (VRSC), currently trading at over 37 cents per token.

00:03:00

In this part of the video, the speaker discusses Ferris Coin, a privacy-oriented project with a unique consensus algorithm called proof of power. They mention the current trading pairs available on Safe Trade and share details about the coin’s staking status and mining hash rate. The speaker also talks about their profitability calculations for mining Ferris Coin using cell phones, including power consumption and potential revenue. Additionally, they discuss the impact of using a box fan to cool the phones and its effect on hash rate and profitability.

00:06:00

In this segment of the video, the speaker discusses how their net profit per day decreased by 13 cents to 73 cents after including the cost of the phone. They mention a break-even time of around four years without a fan, which reduces to about four and a half years with the fan on. Despite the long break-even time, the speaker plans to sell coins at higher prices to reduce this time. Keeping the fan on leads to lower phone temperatures and increased hash rates. The speaker highlights reasons for building a phone farm, such as low startup costs, potential profitability, versatility in mining different cryptocurrencies, and potential resale value of the phones. They express enjoyment in setting up the phone farm and invite viewers to suggest content ideas or share opinions on phone mining.

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