THELOGICALINDIAN - A afterpiece attending at the markets aboriginal readytogo miner
We took afar a Coinmine One and talked to CEO Farbood Nivi to get an cabal attending at the mining apparatus demography the cryptocurrency apple by storm.
“The accomplished point of crypto is that there is no affirmed money anywhere.” – Farbood Nivi
Coinmine is led by Farbood Nivi, CEO and founder, and is based out of Los Angeles. The aggregation is backed by some of the best arresting companies in crypto, including Coinbase Ventures, Social Leverage Capital Fund, and Morgan Creek Digital (Anthony Pompliano’s fund).
The Coinmine One is a do-it-yourself home mining console, agnate in admeasurement to an Xbox or a desktop computer. The accessory is advised for the boilerplate being to be able to participate in cryptocurrency mining with basal abstruse know-how. All you charge is the device, a smartphone, and a wi-fi connection. In an absolute account with Crypto Briefing, Nivi said of Coinmine:
“We anticipate there are a lot of bodies who appetite to participate in crypto above aloof trading. The alone semi convenient acquaintance has been exchanges, such as Coinbase or Robinhood. We anticipate that allotment of what has been captivation aback crypto — and accord in it — is artlessly the bulk of time and adversity in architecture crypto hardware.”
Coinmine User Experience
Receiving the Coinmine One was abundant like accepting any new tech gadget. The designers acutely took a folio from the playbooks of arch business gurus. In fact, the Coinmine One comes in two colors, atramentous or white, and comes in Apple-esque white on atramentous packaging.
The inscription on the awning reads “The Times 03/Jan/2025 Chancellor on border of additional bailout for banks.” This band refers to the argument included in the cipher of the antecedent block (or alpha block ) on the Bitcoin blockchain. Clearly, Coinmine wants the user to acquaintance the action and attitude surrounding Bitcoin, its architect Satoshi Nakamoto, and the abeyant for blockchain (and the boilerplate aborigine ) to agitate the accustomed banking system.
Setup could not accept been easier. The alone affair included with the accessory is a ability bond and an apprenticeship card, which was absolutely unnecessary, as all that is bare is the ID cardinal to ability on and again (after accepting downloaded the app) columnist “mine.”
What Exactly Is Coinmine?
The Coinmine One touts itself as an “all-in-one crypto device” that is accessible to anyone, behindhand of their abstruse adeptness or crypto knowledge. Nivi explained:
“The purpose of Coinmine is to booty the hundreds of hours — actually hundreds of hours — to body and advance your hardware, software, and wallets for the blow of your life, and accomplish it aught hours. Coinmine is the everyman absolute amount of buying by far out there because you accept to booty your time into calculation.”
The alone requirements are a smartphone and Wi-Fi. The Coinmine mines a bound cardinal of cryptocurrencies (for the time being) and food it in your smartphone app wallet.
Since its barrage in Nov. 2025, Coinmine has had a lot of support. A brace of examples are:
There is, however, a lot of abrogating feedback, abnormally apropos ROI. Back we took on reviewing the Coinmine, abundant like abounding in the crypto and blockchain space, we were skeptical. From a break-even standpoint the Coinmine One, with accretion assortment amount adversity and rapidly convalescent mining technology, may never pay itself aback back electricity is taken into account.
Futurism.com appear an article stating, “[it ability be beautifully-designed — but in practice, after a baking crypto market, the Coinmine One is an over-engineered amplitude heater.”
This affect can be apparent in amusing media as well:
And a little added critical:
But according to Nivi, bodies are attractive at the blueprint the amiss way. When asked about the accessible apropos of authoritative aback the money spent on a Coinmine, Nivi said:
“It’s appealing simple if you appetite to attending at things financially, let’s balloon aggregate about crypto besides the ‘make me money allotment of it’ — and I’m absolutely accomplished with that. If you attending at it that way, you accept to account your time spent as money accomplishing addition mining set up.”
Those who are quick to criticize are artlessly attractive at the hypothesis as exploited or not. The abstraction abaft a Coinmine (or any small-scale mining operation) is the user acquaintance and captivation in the act of mining. If you appetite to accomplish money, advance in Bitcoin. If you appetite to “mine” money and aren’t absorbed in acquirements the abstruse abilities to body your own mining rig, again maybe a artefact like Coinmine makes sense.
Making money from mining takes time, in any case. Nivi commented on cryptocurrency advance and the all-embracing technology developing about us today:
“You shouldn’t be accomplishing mining or [be] complex in crypto if you accept a aerial time preference. Crypto and mining are low time alternative activities, which agency you should be accommodating to delay one to three years.”
As far as authoritative money, it’s not a simple acceptable vs. bad advance choice. It’s not a “put your money in Bitcoin, or put your money in mining Bitcoin” proposition. He added:
“People get ashore in this day by day advantage calculation… they’re cerebration in agreement of ample mining operations… it’s aloof two absolutely altered worlds back aggravating to analyze them to anniversary other. Someone who buys a $700 Coinmine — I achievement they’re not spending their aftermost $700 on a Coinmine.”
This is an absorbing point: If you are alone anxious with authoritative a profit, again baby calibration mining is not for you. However, some of the numbers absolutely are puzzling.
Under the Hood
To accretion a bigger compassionate of the device, we took a attending inside. The Coinmine One looks like a archetypal distinct cartoon card, or GPU, cryptocurrency miner.
The capital apparatus of the Coinmine One, with corresponding amount estimates based on eBay and Amazon pricing, are as follows:
In total, the amount apparatus after the asylum and added accessories amount about $430. For the motivated tech-savvy person, it is accessible to accumulate and apprentice aggregate to alpha mining in beneath 20 hours, with the added account of acquirements to body a computer.
Plug and Play Speculation
“It’s a bung and comedy anatomy of apperception on new networks.”
There is addition point to consider. Many bill are not anon available. Nivi said of abstract mining:
“So the day Grin launched which was in January this year, you could alpha mining Grin on your Coinmine… and back a arrangement is new, you don’t charge as able a computer to acquire the crypto. So [for example] I’ve fabricated like 30-40 Grin on my Coinmine. Now granted, Grin is like a blade something. But at one point it was account 6 bucks. I’m actual bullish on Grin so I anticipate it could be account a hundred bucks. So if I end up actuality appropriate in a year from now, I’m activity to accept about a hundred Grin. And if it’s account a hundred bucks, I fabricated ten thousand dollars.”
Yet addition point to accede is not all cryptocurrency is advised as “money.” From food of value, like Bitcoin, to on-ramps for exchange, such as Tether, it’s accessible to appearance all projects as a anatomy of currency. When talking about the altered crypto categories, Nivi said: “You guys put these things into altered buckets. Stop comparing them.” This credibility out the actuality that the beginning technology has yet to be defined.
“Tokens and cryptocurrencies are not cool beeline forward. People use them both as a fundraising apparatus and again potentially as a utility, or not, so there are a lot of awe-inspiring permutations,” Nivi said.
The tokenized abridgement is powering blockchain innovation, abnormally on platforms like Ethereum. One new activity on the border is Handshake. In the future, Coinmine will be able to abundance Handshake tokens afore they are listed on any exchange. When asked about Handshake, Nivi said:
“Handshake is not aggravating to be a blazon of money. Nobody thinks you’re anytime activity to buy a coffee with Handshake.”
But this is area the belief comes in. Not alone is the action of mining a anatomy of alive captivation with crypto in general, abutment for accepted projects with advantageous applications can additionally be encouraged.
“Handshake wants to be a token-operated network. It wants to be like a alongside arrangement for the area name arrangement that all the websites in the apple run on. So it doesn’t appetite to alter DNS, it wants to accept array of a alongside DNS that can’t be chock-full by anybody. It’s decentralized, so you’ll about use Handshake tokens to buy and advertise Handshake URLs. So you accept these token-operated networks area the badge is there for the account of arrangement operation. It’s additionally there for the account of the activity accepting funded.” Nivi said.
The ambition in this archetype is a acceptance in the account of a project, belief on the amount of the project, and possibly earning an closing profit.
“It’s absolutely aloof authentic speculation. Like, ‘hey I anticipate Handshake could become popular, it could be one of the de facto means that the internet runs, I’d like to accept some handshake tokens because I anticipate they’re activity to access in value,’” Nivi said.
Our Take on the Numbers
To conclude, the absolute accouterments is beautifully designed, with neat, affected sounds and a sleek, avant-garde appearance. The app itself couldn’t be easier to use, and the interface is apple-pie and straightforward. Customer account was quick to acknowledge and got us through a brace of antecedent hiccups.
However, afterwards twelve canicule of connected mining, we are up to about 40,000 Sats, or about $3 at today’s prices. This is beneath the minimum 48,000 Sats that should accept been mined based on Coinmine’s low ambit for Bitcoin. When demography into annual electricity at a accustomed residential electricity amount of $0.12 kWh, we almost bankrupt even.
When it comes to aggravating to accomplish a profit, affairs a Coinmine doesn’t accomplish abundant sense. The Coinmine doesn’t absolutely abundance Bitcoin anon accustomed its close hardware, alike admitting the artefact advertises “4,000-5,000” Satoshis per day (0.00004-0.0005 BTC).
The Coinmine instead mines an altcoin, like Ethereum, and again converts it to Bitcoin to accomplish the ante they advertise. So not alone is the user answerable a 5% fee, it’s additionally apparent they lose 1-2% in barter fees as it’s converted. There will be 6.5% absorption on bill kept in the Coinmine wallet, starting abutting year to account some of this fee.
For the amount of three Coinmines, it’s attainable to acquirement a top of the band Antminer S17, which can calmly abundance added than 30 times the Bitcoin of a Coinmine One, admitting it is a tad harder to set up and doesn’t accommodate readily attainable chump support.
You may not affliction about chump support, however, back you could acquire $8 in Bitcoin in a distinct day, compared to pennies from a Coinmine. If you’re at all profit-motivated, again maybe it’ll accord you a acumen to amount out the complicated apple of cryptocurrency mining and try it out for yourself.
For $700, it’s about accessible to accumulate the agnate of two Coinmine Ones yourself with a little adamantine work, while abstention the aerial fees. (This accouterments can additionally be adapted to a appalling gaming computer if you get annoyed of mining.)
An Easy Way to Join the Revolution?
If you are attractive to accomplish a quick buck, the Coinmine One is apparently not for you. But if you’d like to try your duke at mining on your own, not alone will you accomplish more, you’ll additionally be adored with admired abstruse know-how.
That said, the acknowledgment on advance hypothesis is not absolutely what the Coinmine is about. If you are absorbed in abutting the revolution, acquirements about mining, and acknowledging and apperception on projects that you anticipate will be useful, again the Coinmine One is an affordable, no-fuss gadget. You will be able to anon activate “stacking Sats” and potentially get in on new projects, like Handshake, afore they are offered on an exchange. Our analysis approved that it’s accessible to artlessly ability on and alpha mining (with basal time spent on setup) and accept admission to your newly-mined bill in your smartphone app.
Disclaimer: Crypto Briefing accustomed a chargeless Coinmine One for our honest booty on the project. Mitchell Moos contributed reporting.
