Meet the 24-year-old who dropped out of school to mine bitcoin, now earning $ 1.3 million a MONTH

Meet the college dropout who skipped higher education to become a bitcoin miner – and now he’s making $ 1.3 million a month.

John Paul ‘JP’ Baric, 24, of Austin, TX, bought $ 1,400 worth of bitcoin in 2012, when he was still in school and the cryptocurrency had not yet reached the general public.

The self-proclaimed “computer guy” would spend his nights trading bitcoin while pretending to study and play games to earn more, but he didn’t expect the hobby to turn him into a millionaire.

In 2017, JP set up a bitcoin mining platform – where a group of computers create new bitcoins by solving puzzles – in his parents’ basement.

Meet the college dropout who shunned higher education in favor of becoming a bitcoin miner – and now he’s making $ 1.3 million a month

John Paul 'JP' Baric, 24, of Austin, TX, bought $ 1,400 worth of bitcoin in 2012 while still in school and the cryptocurrency had yet to hit the market. General public

John Paul ‘JP’ Baric, 24, of Austin, TX, bought $ 1,400 worth of bitcoin in 2012 while still in school and the cryptocurrency had yet to hit the market. General public

The self-proclaimed

Self-proclaimed “computer scientist” reportedly spent nights trading bitcoin while pretending to study, but didn’t expect the hobby to turn him into a millionaire

At the time, then 17, he was studying at North Carolina State University, but after his bitcoin mining company took off, he decided to quit school altogether.

“I liked that I didn’t have to be a certain age to buy the parts, but I didn’t expect it to take off like it did,” said JP, who earned her first million before turning 18, Jam Presse told Jam Presse.

“The idea of ​​creating my own mining platform arose when my English teacher asked the class to create a business plan in 2013.

“After I finished the plan, I started buying graphics cards from eBay and running the machines in a milk crate at home.

“My parents supported the whole process. They saw this was coming and knew I would do well without the structure of an academic environment.

In 2017, JP set up a bitcoin mining platform - where a group of computers create new bitcoins by solving puzzles - in his parents' basement.  He is pictured with his parents

In 2017, JP set up a bitcoin mining platform – where a group of computers create new bitcoins by solving puzzles – in his parents’ basement. He is pictured with his parents

At the time, then aged 17, he was studying at North Carolina State University, but after mining company Bitcoin took off, he decided to give up entirely.

At the time, then aged 17, he was studying at North Carolina State University, but after mining company Bitcoin took off, he decided to give up entirely.

He started selling mining rigs online and hired a few of my friends who worked for me and built rigs full time.

He started selling mining rigs online and hired a few of his friends to build rigs full time. In the basement, the company has made more than $ 2 million in revenue

Make Money: JP then decided to level up and get out of his parents' basement, renting an abandoned property in Iowa (pictured)

Make Money: JP then decided to level up and get out of his parents’ basement, renting an abandoned property in Iowa (pictured)

Business Development: The Iowa facility (pictured inside) now earns $ 40,000 per day on 1,300 computers, and JP has 23 employees in total.

Business Development: The Iowa facility (pictured inside) now earns $ 40,000 per day on 1,300 computers, and JP has 23 employees in total.

What is bitcoin mining and how does it work?

  • Bitcoin mining is the process by which new bitcoins are brought into circulation. It is also the way in which new transactions are confirmed by the network.
  • Mining is carried out using sophisticated equipment that solves an extremely complex mathematical problem of calculation
  • The first computer to find the solution to the problem receives the next block of bitcoin and the process starts over
  • Miners are rewarded for their work with crypto tokens. It is popular because you can earn cryptocurrency without having to put money in for it.
  • To participate in bitcoin mining, you need a GPU (Graphics Processing Unit) or Application Specific Integrated Circuit (ASIC) in order to set up a mining platform.
  • Source: Investopedia

“As the business grew, I started selling mining rigs online and a few of my friends were working for me and building rigs full time.

“In the basement, the business has made over $ 2 million in revenue.”

Making the money, JP decided to level up and get out of his parents’ basement – renting an abandoned property in Iowa.

He continued, “When I applied to schools I was working as a software intern and I knew I wasn’t going to spend the four years in college.

“I went to school for the first year to make sure I had the chance to experience the atmosphere of the college and meet new people.

As for spending his hard-earned cash, JP bought a Lexus RC 350 sports car for himself, and he also enjoys traveling - he loves skiing - and going to fancy restaurants.

As for spending his hard-earned cash, JP bought a Lexus RC 350 sports car for himself, and he also enjoys traveling – he loves skiing – and going to fancy restaurants.

Expansion: However, the self-made millionaire is putting most of the money back into the business, with plans to open a new office in Oklahoma in 2022

Expansion: However, the self-made millionaire is putting most of the money back into the business, with plans to open a new office in Oklahoma in 2022

“I love to see the company affect employees, customers and fans in a positive way.  Most of my time now is spent expanding our operations, ”he said.

“I love to see the company affect employees, customers and fans in a positive way. Most of my time now is spent expanding our operations, ”he said.

“But when bitcoin started to soar, I wanted to focus on it full time.

“After college, I rented a warehouse and hired my friends as sales reps and support staff.

“University is a huge debt for those who don’t get engineering or science degrees.

“You don’t need a degree to be successful, you just need the determination to work on the same thing for two years and work on creating value for all. “

The Iowa facility now earns $ 40,000 per day on 1,300 computers and JP has 23 employees in total.

As for spending his hard-earned cash, JP bought a Lexus RC 350 sports car for himself, and he also enjoys traveling – he loves skiing – and going to fancy restaurants.

Viral sensation: JP has also become a star of TikTok, where he shares his journey with 485,000 subscribers and many users are in awe of the success of bitcoin

Viral sensation: JP has also become a star of TikTok, where he shares his journey with 485,000 subscribers and many users are in awe of the success of bitcoin

However, the self-made millionaire is putting most of the money back into the business, with plans to open a new office in Oklahoma in 2022.

He added: “The money allows me to travel wherever I want and eat amazing dinners. I love to travel and ski regularly and spend time on the beach.

“I also love to see the company affect employees, customers and fans in a positive way. Most of my time now is spent expanding our operations. ‘

JP has also become a star of TikTok, where he shares his journey with 485,000 subscribers and many users are in awe of bitcoin’s success.

“Dude, this guy is a genius,” one person commented in a recent clip.

Someone else added, “Dude, you are living my dream.”

“I’m in debt … Can you buy me a new car?” Someone else joked.


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