In February 2022, Market Realist profiled MiningStore founder and CEO JohnPaul “JP” Baric — then 24 years old, without a college degree, and running a Bitcoin mining company the article reported was bringing in more than $1 million a month.
What the Article Covered
The piece traces the company back to a high-school business-plan assignment. As Market Realist tells it, JP bought about $1,400 of Bitcoin in 2012, when a coin cost roughly $70, and started building mining rigs in his parents’ basement. He enrolled at North Carolina State University in 2016, left at 17 to run the business full time, and founded MiningStore that year with friends and a $100,000 seed investment, growing it from Austin to Raleigh, North Carolina.
The growth numbers the article cited:
- About $700,000 in mining-hardware sales in 2017
- More than $2 million in revenue in 2018
- $6.6 million in total revenue in 2019
- A first Iowa mining facility opened in 2019, and the launch of the Managed Mining Program, which lets clients own miners that MiningStore runs for them
The profile followed a 2021 iWonder documentary short, This Man Is Bitcoin Mining Over 1 Million Dollars A Month, and both are part of the coverage collected on our press page. Today MiningStore operates 62.5 MW across eleven Iowa facilities.
Read the original: “JP Baric Runs a Bitcoin Mining Business, Makes Over $1 Million a Month” — Market Realist, February 14, 2022.