Meet the college dropout who shunned higher education in favor of becoming a bitcoin miner — and now, he makes $1.3 million a month.
John Paul Baric 24, of Austin, Texas purchased $1,400 worth bitcoin in 2012. Back then, cryptocurrencies were still a new phenomenon.
The self-professed ‘computer guy’ would spend his nights trading bitcoin while pretending to study and would play games to earn more — but he never expected the hobby to turn him into a millionaire.
In 2017, JP set up a bitcoin mining rig — where a group of computers create new bitcoin by solving puzzles — in his parents’ basement.
The college dropout turned down higher education to become a Bitcoin miner. Now, he earns $1.3 million per month.
John Paul Baric (24), from Austin, Texas bought bitcoin worth $1,400 back in 2012 while he was still in school. At that time, cryptocurrency wasn’t mainstream.
He was a self-confessed “computer guy”, and would trade Bitcoins while pretending to be a student. But he didn’t expect the hobby to make him millionaire.
He was 17 years old and studying at North Carolina State University. But, after the success of his bitcoin mining venture, he made the decision to quit school.
Jam Press interviewed JP about his initial million dollars, which he made before turning 18.
“I was inspired to make my own mining equipment when I was taught English in class.
‘After I had completed the plan I began buying graphics cards on eBay and started running them in a milk crate at home.
My parents supported me throughout the process. It was obvious that it would happen and they knew that I would succeed without the college structure.
JP established a Bitcoin mining rig in 2017 – where computers solve puzzles to create new bitcoin – at his home. Pictured with his parents
At the age of 17, he was studying at North Carolina State University. But, after bitcoin mining began to take off, he made the decision to quit.
Online sales of mining rigs was his first venture. He then hired some friends to help him build the rigs. The company made over $2,000,000 in revenues from the basement.
Making a profit: JP moved out of the basement of his parents and began renting an Iowan property. (pictured)
Expanding the business: Iowa facility (pictured inside), now earns $40,000 per hour across 1,300 computers. JP currently has 23 employees.
“As my business grew, I began selling mine rigs online. A few of my closest friends worked for me while building the rigs.
“In the basement the company made more than $2 million in sales.”
Raking in the cash, JP decided to level up and out of his parents’ basement — renting an abandoned property in Iowa.
He added: “When I applied to schools, I was working as software intern. I knew I wasn’t going to survive the four-year college experience.
“I was able to go to college for my first year because I wanted to be able to feel the college culture and make new friends.
JP spent his hard-earned money on a Lexus RC 350 sports vehicle. He also loves to travel – he enjoys skiing and dining at luxurious restaurants.
Expansion: The self-made millionaire invests most of his money in the company. He plans to open an Oklahoma office by 2022.
“I love watching how the company impacts customers and employees in a positive manner. He stated that his focus is on growing the company.
“But when bitcoin began to soar, i wanted to devote my full attention to it.
“After I graduated college, I purchased a warehouse to hire my friends for sales reps or support staff.
“College is a huge debt to those who do not choose engineering and science-based degrees.
“You don’t have to earn a degree in order to succeed. All you need is the will to continue working on the same project for at least two years, and to create value for everyone.
Iowa’s facility now generates $40,000 per day on 1,300 computers. JP employs 23 people.
As for spending his hard-earned cash, JP has bought a Lexus RC 350 sports car for himself, and he also enjoys traveling — he loves skiing — and going to luxurious restaurants.
JP became a viral sensation with TikTok. Here he shares his experiences with 450,000 followers, and users marvel at the Bitcoin success.
The millionaire self-made invests the majority of the funds back in the business. He plans to open another office in Oklahoma by 2022.
He said, “The money allows me to travel anywhere I like and enjoy amazing meals. My passion is to travel, and I often ski or spend time at the beach.
“I love watching how the company impacts customers, employees and fans in positive ways. My time is now devoted to expanding the operation.
JP became a TikTok superstar too. He shares his experiences with 485,000 followers, and many users remain in awe of the bitcoin successes.
A clip from a recent video showed one individual commenting, “Dude! This guy is a genius!”
Another person added, “Dude, you are living my dream.”
“I’m shackled by debt… Could you get me a car?” Someone else laughed.