🟣 Crypto Mining Beginner : Spent My Savings, Now I’m Worried

Before anyone roasts me~ yes, this was my savings. I’m 17 days into crypto mining using a mobile app, and I genuinely thought it would be a good starting point. I don’t have the means to buy an actual miner (ASIC) because I’m living in Singapore and still staying with my parents.

Here’s what I’ve done so far:

💸 Spent:

2× Tier 22 (1-month contracts): SGD $2,296

2× Tier 2 (1-month contracts): SGD $13.96

1× Tier 7 (1-year contract): SGD $999.98

▶️ Total Spent: SGD $3,310 ($2,450 USD)

⚙️ Mining Power:

2× Tier 22 @ 19.61 TH/s = 39.22 TH/s

2× Tier 2 @ 126.27 GH/s = 0.25254 TH/s

1× Tier 7 @ 1.64 TH/s

➡️ Total: ~41.11 TH/s [Some days 41.12 TH/s if i dont forget to claim the free 3.01 GH/s contract every 8 hours🫠)

⛏️ Earnings So Far (after 17 days):

Balance: 28.4k satoshis = 0.000284 BTC

Worth around $30 USD

Even if I continue at the same rate for the rest of the contract, I might only earn ~0.0005 BTC = $50 USD total, after spending $2,450 USD.

🔍 Am I misunderstanding how this works?

Is this how mobile mining usually goes?

What does 41 TH/s even mean in real world mining terms?

🙋‍♂️ What I’m Hoping to Learn:

Is this normal for mobile-based mining apps?

How does my hashrate (41 TH/s) compare to real hardware miners?

Are there better alternatives for someone like me?

Am I just misunderstanding how this works?

I know I’m new, and maybe I jumped in without fully understanding and relying on to the app description might not be it. But I’m here now, open to learning and listening.

I'm trying to learn, and this was a leap of faith using what I could afford. If you’ve got advice, please share it would mean a lot.

Thanks for reading 🙏

#CryptoMining #Bitcoin #MiningApps #BinanceSquare #Beginnersguide