As a man once said, “I don’t see how you can hate from outside the club. You can’t even get in.”
But what if I told you there was a club you could join… and that the club itself would present the opportunity to afford those fancy bottles and fake friends?? My name is Shade Sol, and with that captivating intro out of the way, let us take a look at an NFT project that also allows you to get in on cryptocurrency mining. That project is the Blockchain Miners Club
This breakdown is going to proceed assuming that you know what A) NFTs are, B) cryptocurrency is, and C) I love you.
Blockchain Miners Club (henceforth referred to as BMC) is an NFT project the connects your JPEG to a Bitcoin mining farm that actually earns you passive rewards. By owning one of their (maximum) 11,111 NFTs, you get access to their members’ reward pool, actual Bitcoin that has been mined by their mining farm that is hosted in Georgia of the United States.
Their NFT art design is done, according to BMC’s Discord, is none other than Big_Mister_Skateboard (Twitter). Big Mister Skateboard knows how to skateboard in a pretty big way according to his Open Sea bio. His other notable projects are Roguebots and Chris Farley official NFTs. All of BMC’s NFTs are designed to look like Bitcoin ASIC miners, specifically the Antminer S19j Pro. As you can see below, they are cube-like in design and feature wacky and zany faces as well as things that ASIC miners really have, like fans!
These Ethereum-based NFTs currently have a floor price of 0.359 ETH, which at the time of writing (mid crypto collapse, please hold me), is roughly $1,300 USD. You can check out their entire NFT catalog here, and see for yourself that they have a fairly active marketplace for their art.
So that about covers it for the NFT side of things…let’s break down what their supposed mining farm produces and what sort of rewards you could expect to earn by buying one of their NFTs.
The Antminer S19j Pro is the ASIC miner of choice for BMC (one thing I’ll forever be too dumb within crypto is remembering what every single acronym stands for.. there are just too many).
The quick specs on this miner are:
- Mines on the SHA-256 algorithm (Bitcoin)
- Hashes at a rate of 110 TH/s
- Uses roughly 3250W of electricity (a lot)
There are a ton of useful profitability calculators online, but a quick look at this one shows that this miner earns roughly $5,800 of profit at basic electricity levels for an entire year, compared to its purchase price of just over $12k. Mental math checks out to about 14–16 months ROI which, granted there aren’t huge mining difficulty spikes, is pretty solid when it comes to any sort of mining rig.
BMC has stated that they currently have 100 of these rigs operating on a full-time basis out of their hosting facility operated by a company called Alloy Ventures which operates out of Georgia (as stated previously). This mining facility is able to operate at efficient electricity rates, allowing BMC to mine at a nice profitability level.
Ipso Facto means BMC is earning nearly $580k/year at the current BTC price ($41k) from these mining rigs alone. Not bad.
So how much of that can you, the digital art connoisseur (obviously did not spell that right the first time) that you are, expect to earn? Well, the answer to that, is actually up to you!
When I say “you” I really mean you and everyone else that owns one of their NFTs. As in the community. All mining rewards are sent to a community BTC Wallet where you can monitor incoming and outgoing transactions. As it currently stands, the community wallet holds 1.57338610 BTC which is like $69k (Nice all around). On their Discord, they state “the holders of our project will get to vote on how these rewards are utilized to grow the project, expand mining operations, and ultimately reward the holders. There are many ways to go about doing each of these things and that is why we want our community to help us decide where we are headed!” This sounds exciting and all but is also very vague and doesn’t really showcase any legitimate timelines or how often voting might take place. I’ll leave it to you to browse through their Discord and their sites to get a good grip on how you think that all operates, but if I make this article much longer then only my mom will finish it, and that’s purely out of love (or disdain for my career choices).
The last note I want to touch on with this write-up is about the project team. We already touched on the main artist, Mister Skateboard man, but what is one of the more encouraging aspects of this project is that the founder is not anonymous. His name is Brandon Castaneda and you can find his LinkedIn profile on the project’s website, which in my opinion is a huge level of transparency. Their Community Manager’s LinkedIn is also available. His name is Patrick Miller, and if I didn’t check out his profile myself, I would have thought that was a made-up name. But he and his experience check out.
As for the rest of the team, their information does seem to be anonymous. You can find things such as their Instagram or Twitter profiles, but not a whole lot beyond that. Which in my mind is alright since the two main people are known to the public.
Now that I have bequeathed (got that one right) all this excellent information upon all of you, I implore you to check out their Discord, which has a lot more information and is a very engaged and tight-knit community. It is pushing 30,000 members which is pretty impressive, and they often times will do random giveaways of their NFTs that you can win by either being active in their server or completing the “Missions” that they create for everyone to participate in.
Until next time,
The Shade Sol
