My Experience Mining Helium For Three Months, $1200 USD Passive Income

March 11th, 2022 marked my three months of mining helium. At this checkpoint, I have been able to successfully generate 40 HNT which at an average market rate of $30 USD/HNT is $1200 USD. Note that we are definitely in a crypto bear market hence I used an average market rate of $30 USD/HNT to give a rough estimate of my earnings in USD.

Photo by Adi Goldstein on Unsplash

In this article I want to take the time to reflect back on my overall experience with the Helium network, things I learned along the way, a summary of my earnings, and some tips on how I have been able to maintain high rewards. If you have no idea what Helium is, read this article first!

Helium Network

Over the last three months, I have seen the Helium network continue to grow with over 600,000 total hotspots. In addition, Helium developers are continually making new proposals and updates as the network grows which is amazing to see. Updates and pivots to the current protocol are crucial to scale this peer-to-peer network long-term. Although the value of HNT has been trending downward, I believe this is more because of issues of the global markets rather than the stability of the Helium network itself.

I have seen more data transfer activities being done by my miner, which is a good sign. An increase in data transfer correlates to higher network usage by Helium customers. A foot in the right direction as creating a P2P network that has no users would have no value. More data transfer happening means more overall users.

Miner Diagnoser Page Is Your Friend

There’s been a few times where my miner has gone down. Due to network outages, miner not being in sync, bobcat firmware updates, etc. Each time the miner’s diagnoser page has been super helpful in debugging the issue. As the Helium Explorer is often delayed and difficult to use to debug problems.

Not all miners have a diagnostic page, but popular ones like Bobcat and SyncroBit do. Hence do recommend purchasing a miner which has one out of the box if you are a beginner in this space. You can access this page by going to the miner’s IP address in your web browser. Follow the screenshot below to get your miner's IP address from the Helium app…