He Went Into $600,000 of Debt For Bitcoin Mining

The Ramsey Show Highlights

Ramsey Network

Investing, Education, Business, Self-improvement

4.5 • 838 Ratings

🗓️ 30 May 2026

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:04.3	Start budgeting for free today.
0:06.7	So my question that I'm trying to figure out is if I should sell my house while I'm currently in a bankruptcy that was caused by my husband making investments in a failed Bitcoin mining business.
0:21.1	Yikes.
0:22.4	Yeah.
0:22.8	There's a lot going on there.
0:25.3	Okay.
0:26.2	So you're thinking about selling the house.
0:28.3	You're in bankruptcy.
0:29.2	How much money did he lose in the Bitcoin mining scam?
0:33.2	Well, there's $250,000 in personally guaranteed business loans and then $100,000 in credit card debt and about $274K on a heel lock.
0:46.4	This can't all be due to his Bitcoin investment.
0:52.8	From what I've seen, it's all related to the mining equipment and the hosting fees.
0:58.9	So he went 624 grand into debt for a Bitcoin mining business?
1:06.1	Uh, for the most part. Yeah. I mean, what I didn't know as all of this was happening is that, you know,
1:11.2	he was also at certain points covering, you know, just our additional expenses out of whatever
1:18.4	he was racking up on the credit cards. Got it. And you didn't know about any of this?
1:24.1	No. Well, I knew that he was taking out loans, but I really didn't have a lot of visibility to how much we had a master in what poor of shape we were in.
1:38.7	Okay. Well, before we get to the finances, how is your marriage doing?
1:43.9	It's really difficult. You feel like I came into the
1:48.6	marriage, like a huge Dave Ramsey fan. I didn't have any debt. And I thought we were really aligned.
1:54.5	And, you know, honestly, I had three babies in a five-year period. And I really just kind of took my
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