- Scott Melker previously avoided mining bitcoin because he wasn’t technically savvy.
- But mining farms are making it easy and accessible for almost anyone to mine cryptocurrencies.
- Through a website, he was able to buy an ASIC and mine remotely. Now, he only pays for electricity.
When Scott Melker first transitioned from music to crypto, he would often get comments like “go back to DJing” or “stay in your lane,” he told Insider. As a response, he jokingly called himself “The Wolf Of All Streets.” He wanted to demonstrate that people can excel at more than one thing and should never let others try to box them in.
That name stuck, and he never looked back. Melker is now a crypto trader, the host of a podcast called “The Wolf of All Streets,” and the author of The Wolf Den newsletter. He has interviewed influential names in the crypto and finance space such as Michael Saylor, co-founder of MicroStrategy, and Dan Held, director of growth marketing at Kraken. He’s also amassed almost 550,000 followers on Twitter.
He told Insider he’s recently taken on a new arena: crypto mining, a process that uses nodes to verify transactions on the blockchain, in exchange for rewards in the form of crypto. In Melker’s case, it’s bitcoin. Although Melker has been investing in the digital asset since 2016, mining it is an alternative way for him to continually and passively add to his position.