A teenage sibling in the United States has been able to earn more than $ 30,000 a month by mining bitcoins and digital currencies. They have said they intend to expand in the future.
to the Report Cyanobci, Ishaan Thakur, 14, and his sister Aanya, 9, spent the summer building a lucrative digital currency mining business.
We started because we wanted to learn new things about technology and also make money that way.
The siblings earn more than $ 30,000 a month. He, the older brother, said that they earned this income by extracting digital currencies including Bitcoin, the largest digital currency in terms of market value, Ethereum, the second largest digital currency in the market, and Ravencoin, a coin tool in a total of 100 currencies. Digital is the market leader, they get.
To do this, he and Anya, based in Frisco, Texas, had to learn how to extract digital currency, which of course is not an easy task. To extract digital currencies such as Bitcoin and Ethereum, sophisticated computers are programmed to compete with each other in solving difficult puzzles and to approve transactions.
Extracting digital currency is just like extracting gold and diamonds. The difference is that instead of using a shovel with a computer, you do it and instead of finding a piece of gold or diamonds, you get digital currency.
After watching videos on YouTube and searching the Internet, in April, he turned Aleinware, a popular model of gaming PC, into an Ethereum mining rig. He did this by using graphics cards that can perform large volumes of calculations to extract digital currency.
Her parents and Anya also supported them in this work. He says:
We could have spent the whole summer playing video games, but instead we used our free time to learn about technology.
The teenage siblings started mining with Ethereum, as bitcoin mining is relatively more difficult. Due to limited supply and increasing demand, competition for bitcoin mining can be fiercer.
He says he earned $ 3 on the first day of extraction. To formalize the business, they started their own mining company, Flifer Technologies, with the help of their father, Manish Raj, on April 30.
He further added:
We loved it and the processors [یا تراشههای] We added more and made $ 1,000 in the first month.
But the sibling’s income continued to rise. By the end of July, they were able to purchase new equipment such as several Antminer devices and Nvidia’s RTX 3080-Ti graphics card, and begin mining bitcoins and raven coins. Raj says that after deciding which digital currency to mine, they finally chose Raven Quinn because the equipment they had was suitable for extracting this digital currency.
According to Raj, they expect to earn about $ 36,000 in September based on the equipment they have already ordered.
We can process more than 10 billion Ethereum algorithms every second.
Although she and Anya have succeeded, the process is not easy. Extracting digital currencies, in addition to being a very complex task, is not cheap and requires expensive equipment, energy and high processing power.
She and Anya, for example, have more than 97 processors, and Raj, their father, who previously owned the bank, has taken out a loan to help pay for the processors.
Raj declined to say the exact amount of the loan, but the shortage of computer chips around the world has made it harder to find equipment and has pushed up prices.
She and Anya mostly use Nvidia RTX 3090 graphics cards. He says the cost of buying each graphics card is between $ 2,500 and $ 3,000.
The brothers and sisters say that because they work from home, they use 100% renewable energy for extraction, because they want their activities to be in line with the environment. They also rent a data center in Dallas, Texas. In total, for a home and data center, the cost of electricity bills is a little lower than $ 3,000 a month.
He said about the location of this equipment:
We moved the equipment from the desk to the garage, because there was a lot of heat and noise in the house. We also enlarged the garage because it was too hot and noisy for the garage. Now we use the garage only to build and test the extraction grains. When the pebbles are ready, transfer them to a specialized, ventilated data center in downtown Dallas.
She and Anya were able to expand their activities during the summer holidays, and they hope to be able to continue to grow their business in the future and strike a balance between this work and school time.
When Anya’s friends ask her about this, she says “we only extract in the garage”!
They plan to reinvest in their business with the profits they make. However, he says:
I hope that the profit from this business will also cover our university tuition.
He hopes to study at the University of Pennsylvania. He wants to study medicine and become a doctor. Anya also wants to become a doctor, but she would like to study at New York University. They have several years to do this. She is a high school student and Anya is in the fourth grade of elementary school.