Young Miners Earn 30 Thousand USD a Month
Ishaan Thakur, 14, and his nine-year-old sister Aanya know exactly what to write in "How I Spent My Summer”. In particular, they can tell how they got rich by mining cryptocurrency.
The Thakur family lives in Frisco, Texas (USA). Here's what the kids themselves have to say about their hobby:
"We started because we wanted to learn something new about technology – and also make some money along the way."
Now the Thakurs have a chance to earn more than $30,000 a month by mining Bitcoin (BTC), Ethereum (ETH) and Ravencoin (RVN).
Ishaan compares crypto mining to gold or diamond mining. He was inspired by YouTube videos, after which he started mining Etherium on his Alienware PC. Thanks to a good video card profit began to drip almost immediately - the children earned $3 on the first day.
Soon their father helped them register a mining company, Flifer Technologies. The kids began scaling up their capacities and in May they already had a profit of $1,000. By the end of July, they bought a Bitmain Antminer and Nvidia RTX 3080 Ti graphics cards.
By the end of September, the profitability of the farm can reach 36,000 USD through the proper distribution of power among three profitable cryptocurrencies.
The total number of miners they possess by now is 97. Without the help of Raj's father, a former investment banker, the kids would not have been able to take out a loan and buy the equipment. Clearly, they did it at inflated prices, as the RTX 3090 Ti alone now sells for $2,500 to $3,000.
The Thakurs also use "100% renewable electricity," although they still have to rent space from a Dallas-based data center. Electricity costs up to $3,000 USD each month.
Ishaan hopes to attend the University of Pennsylvania. There he wants to study medicine and become a doctor. Aanya also wants to study medicine, but wants to go to New York University instead.