The owner of this tiny $875 rig mines bitcoin using free electricity at Starbucks – CNBC

The owner of this tiny $875 rig mines bitcoin using free electricity at Starbucks – CNBC

Idan Abada

Idan Abada is on a mission to democratize bitcoin mining. As far as he’s concerned, minting new coin isn’t just for the pros. 

His message appears to be resonating with the masses. 

Abada, who lives in the San Fernando Valley in Los Angeles, posted a video of himself using free Starbucks electricity to run an $875 mini bitcoin mining rig. The post has since gone viral on TikTok, with 2.6 million views and counting. 

The rig looks a whole lot different than a warehouse packed with rows of whirling ASICs – an image which has come to be synonymous with crypto mining. 

Instead, Abada’s miner is relatively simple: it consists of a multi-port USB hub, a mounted mini fan, and ten USB-sticks, each containing two Bitmain-manufactured ASIC mining chips. 

“It’s one of the easiest miners to set up and run, because all you need is a computer or a laptop,” explained Abada. “It’s powered by USB, and that’s pretty much it. Everyone can become a miner and be a part of the crypto world.”

Computers in a warehouse near one in Iceland where Bitcoin-mining machines were stolen. Iceland’s cheap electricity and chilly weather, which helps keep the computers cool, have made it a premier location for cryptocurrency mining.

Egill Bjarnason | The New York Times

An $875 mining rig