I am sure I have many regrets but this one is killing me at the moment.

Trying to get sats passively and help my friend earn “passive income” I convince him to go 50% on buying two hosted miners with compass mining. It went great.

My friend wanted to expand immediately going from 2 miners up to 20. To make this happen I took out a 150k unsecured business loan. The apr is 17% we agreed to go 50% on everything.

After getting the loan compass mining ran into issues and miners were delayed almost 12 to 15 months on full deployment of the 18 miners.

My friend got Covid and almost died. Thus he couldn’t hold up his end of the bargain making loan payments and paying the mining bill. All the burden fell on me and and I panicked.

Trying to supplement his monthly contributions with the BTC we earned by mining and buying I got suckered into a yield scam thanks to telegram. To date about 90k is trapped with them probably never to be recovered.

Then the halving hit and the revenues are slashed. Actively unloading miners to lower the power cost. So far unloaded 9.

All this and didn’t get to save a single sat by mining.

Painful stuff but I’m still optimistic we can turn this around!! Worst case scenario I’ll have to liquidate some assets I really don’t want to in order to pay off the terrible business loan. And my friend’s health is getting much better! He may even start contributing again.

On the bright side I used the mining business to offset my tax burden due to business loan interest being a business tax expense write off.

Learned a lot about trying to run this business from tracking income, doing monthly reports, and understanding capital management (which I did terrible on) All skills I learned during this rough time may prove useful in the future!