A seller sourced Bitcoin miners from China and listed them on Facebook Marketplace for $200 each, revealing the $10,000 miner cost in the ad. One organic listing generated $9.8 million in sales over three months with a 30% profit margin, using pre-orders to fund inventory.
2021, China had canceled Bitcoin mining and we started a Bitcoin mining facility. People were selling Bitcoin miners and hosting services on Facebook Marketplace. And so these miners cost $10,000. So you go type in the name of the model and you see them listed. Cool. So I just posted organically on Facebook Marketplace, Bitcoin mining hosting service. But instead of putting in the price of the miner, which turns people off, I put in the price of the hosting, $200. And then when you click into it in the description, it's like, it's actually $200 for hosting. Here's the cost of the miners. I'm not exaggerating. That one ad, no paid, did $9.8 million All on Facebook Marketplace in 3 months. Just to be clear, you were selling miners that you already owned, or what were you doing? We were pre-selling them and then ordering from them, China. So we had a positive cash flow conversion cycle. What was the rough margin on something like that? Call it 30%. Are you planning to do this again if the mining market gets hyped again? Yes.
