Watch: How to Mine for Bitcoin on a Budget

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Bitcoin miner Idan Abada posted a video of himself using free Starbucks (SBUX) electricity to run a mini bitcoin mining rig sold by his company, BitcoinMerch.com.

The TikTok video went viral, with over 2.9 million views so far.

Abada's company Bitcoin Merch offers customers all the hardware they need to get into mining.

"It seemed very complicated to get into mining," says Idan Abada. "So my idea is, what I can I do, what can I provide so that people can start mining."

TheStreet Crypto Investor Senior Reporter Stacy Elliott recently explained the migration of crypto miners from China and what it means for U.S.-based miners.

"The current state of the mining industry has evolved to the point where we have this great computing power, but the increases are diminishing -- so minors will have to focus on other areas of their business to generate that profit of Bitcoin ... They will have to pay more attention to energy costs, financial planning and diversification of their business," said Ed Lopez, Managing Director and Head of ETF products at VanEck during a recent roundtable webinar sponsored by VanEck on the evolution of blockchain. 

Want to learn more about bitcoin mining and investing? Click here to see highlights from the all-star panel, presented by our partners at VanEck.

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