A young Lebanese man who earns $20,000 a month mining cryptocurrencies has defied all odds

Despite the difficult economic conditions in Lebanon, a 22-year-old Lebanese man insisted on searching for a solution to earn money and provide job opportunities for many young people by mining cryptocurrencies.

Ahmed Abu Daher said he and his team of 40 Lebanese and Syrian employees work around the clock to manage thousands of mining machines across the country.

He added, “We can’t sleep or get any rest… My team and I work shifts of up to 16 hours a day, and sometimes up to 18 or 19 hours,” according to what he told the American “CNBC” network.

Abu Daher got into the cryptocurrency mining business more than two years ago. He and a friend started three hydroelectric machines in Zaarouriya, a town 30 miles south of Beirut in the Chouf Mountains.

“When we started, our idea was to earn money while sleeping or eating,” said the Lebanese youth.

Despite being an architecture student at the time, he found it difficult for many university students to find work after graduation, so he realized he had to teach himself various technical tasks by watching YouTube videos.

And after 26 months since Abou Daher set up his first cryptocurrency mining mine, things are going well. He now has around 400 crypto farms with between 5 and 100 machines each, in 42 villages across Lebanon powered by a mixture of hydroelectric and energy. Solar and fuel. The twenty-year-old explained that he earns about $20,000 a month, and usually half of these revenues come from mining and the other half from selling machines and trading cryptocurrencies.

The employees who work with Abu Daher to monitor cryptocurrency mining sites receive an official salary ranging from $800 to $4,000 per month in US dollars or cryptocurrencies.

The young man reported that he mines a mix of cryptocurrencies, including litecoin, dogecoin, bitcoin, and ethereum classic and in some cases, programs machines to switch between cryptocurrencies whichever is more profitable that day.

Abu Daher is currently trying to educate locals about mining, mainly because he needs the extra manpower to keep the business going.

“We are trying to let someone in every village learn about mining in order to help us,” he said. “We cannot cover all the machines we have by my team, because we have a huge amount of machines, and we sell a huge amount of machines.”

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Note: The content of this news was written by Egypt Today and does not express the point of view of Egypt Today.


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