The fallout from the collapse of the Terra system is still being felt. 3 Arrows capital has filed for bankruptcy. Celsius has halted withdrawals as it hits a liquidity crisis. BlockFi is also on the rocks. Luckily for me I exited BlockFi a number of months ago, and I managed to take my BTC out of Celsius a few days before they closed the doors to withdrawals. A lucky escape!
What else is new? My first full months income from BullRide comes through this month. Also my Helium miner arrived and has been deployed, giving me my first income from Helium mining.
On with the investment detail…
ElfinMarket. My rock of an investment gets its normal monthly allocation. Invested £1000
Free Trade. My net investment this month is actually around zero. The funds arrived from exiting my general investment account on FreeTrade. I re-invested the £1500 into my ISA account. In a bid to give myself even dividend coverage through the year, I put most of the transferred funds into another green energy fund called Algonquin and also topped up my Iron Mountain holdings. Also to note is my Enterprise products shares got re-classified as not suitable for the ISA so I had to sell these and re-invest the money there as well. The money from Enterprise went towards topping up Forsight Solar and Greencoat Wind which pay dividends at the same time. Invested £0
JuicyFields. This is my risky play this month and probably one I would not recommend as it makes me slightly uncomfortable. On the NEXO platform I have enough collateral to take out a loan at zero % interest so I have utilised this to put more money into JF. The intention is to take out the whole principle in 108 days to pay back the loan and let the profits ride. Let’s see how that turns out! 😳 Invested £3825
Total Invested £4825
I am expecting slightly lower income this month. Last month had a stellar return from JuicyFields as there were 5 weeks return instead of the usual 4. This wont be repeated this month so there is a drop off of income. That said, there will be some compensation from a rising income from YieldNodes and new income streams from BullRide and my Helium Miner.
On with the detail…
TheSunExchange. The shortest month of daylight hours is upon us in the Southern Hemisphere so we should be around the lowest point for income from the solar panels. Looking at the last 2 years July has been the lowest month. This month and last month have been less than expected as the Nhimbe Fresh project has had problems with their International Bank, which hopefully will be resolved soon. Income £31.84
BullRide. After 9 days of income last month, this is the first full month of revenue from my electric scooter in Norway. We are getting into the summer months and I’m not sure how the use alters throughout the year, but I assume there is some seasonal effect. The income seems to be higher at the weekends than in the weekdays so there is a recreational use effect. I am fairly happy with the return though for the month. I think I will need to see a few more months to make a judgment call on buying more scooters or not. Income £44
CrowdProperty Income from loans completing seems to be back to normal with a nice and steady return. Looking at my deployed funds I seem to be taking on new loans at a similar rate to loans completing so I am at a static position overall. Income £68
ElfinMarket Income has held above the £100 mark for the second month so I can expect this to continue rising from here on in. At the end of this tax year I will be close to £200 a month and will need to make a decision on how much collateral I want to have tied up in the platform as it is becoming a significant investment. Income £101
Euro P2P The income keeps tricking in from my P2P European investments. Income £14
YieldFarming and Staking Almost all my income in this category is now from YieldNodes. The returns are monthly and paid out at the beginning of the month for the previous month. I have set my profits to be 50:50 split between withdrawal and re-investment so the capital is growing and I am slowly de-risking. I have also included my Helium miner in this group which is making a small contribution of about £22 this month. Income £461
Crypto lending across NEXO, Celsius, and Luno is in a period of flux. I have taken all my BTC out of Celsius and transferred it to NEXO, just 2 days before they halted withdrawals from Celsius. My hope is that NEXO wont be next to fall under the contagion running through crypto lending platforms. My income on the NEXO platform is massively reduced this month as most of my collateral is supporting the loan I took out and so it no longer attracts interest. As the loan is paid back over the next few months the income should return. LUNO is also undergoing some changes, they have stopped the interest product for UK customers and so this income stream is stopping. I will have to decide what to do with the funds sitting there. I have a few ideas but that will be something for July. Income £104
JuicyFields has only had the usual 4 weeks return this month so we are a chunk less than last month. It’s still a significant amount of my monthly income just under £1000. Next month should be really similar, but then in August I have another 5 week month. I help out on the companies Telegram chat and have negotiated a small payment, so this will be contributing to the income here from September. September is also when my risky loan purchase of plants matures so the income that month should be stunning if everything goes to plan. Income £983
FreeTrade has had an excellent month. There was a surprise extra dividend of £63 from Ferrexpo adding to a busy month for dividends. I should be back to more modest amounts for the next 2 months and then another busy month in September. Income £143
Total Passive Income £1952
If things keep ticking along as they are I should be consistently above £2000 per month for the rest of the year. I am considering going back into my work pension so my deployable capital will decrease significantly. The flip side is that my monthly passive income is now reaching self sustainability. As long as I don’t need to withdraw any funds for monthly expenses, I should be able to compound my returns and my income should continue to grow nicely.