A large asteroid will give Earth a record setting close shave on Feb. 15 on its path through space.

The asteroid, also known as 2012 DA14, will come around 17,200 miles away from Earth. That distance is closer than man-made satellites that were launched into space but still too far to cause any potential damage.

NASA confirmed that the asteroid poses no danger, but if by some chance it did hit earth, the impact would be devastating as it weighs roughly 143,000 tons and measures around 148 feet long, about half the size of a football field.

The approaching asteroid is also more than just a giant space rock as it is made up of around $195 billion worth of salvageable material.

Scientists with Deep Space Industries (DSI) estimate that the asteroid has around $65 billion in recoverable water and about $130 billion in metals like iron and nickel.

Even though the asteroid is ripe for harvesting, DSI is currently raising money in an effort to possibly launch a future fleet of ships for asteroid mining.

"While this week's visitor isn't going the right way for us to harvest it, there will be others that are, and we want to be ready when they arrive," Deep Space Industries chairman Rick Tumlinson told Space.com. "Getting these supplies to serve communications satellites and coming crewed missions to Mars from in-space sources like asteroids is key if we are going to explore and settle space."

So how can people catch a glimpse of the huge asteroid's close approach?

Sky watchers might be able to see it with a backyard telescope, but its speed will be a problem. The asteroid will sail twice the width of the moon across the sky for every minute that it is visible, making it tough to track for amateur stargazers.

A live stream of the flyby will be provided from Slooh.com with images taken from two observatories. The live stream will also be accompanied by a real-time analysis and discussion from Slooh's team of astronomers. The site will also create a moving image of the asteroid hurtling against the background of the stars. Slooh's live stream starts at 3 p.m. and end at 6 p.m. PT.

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