According to a ReportDallas News reports that this sibling duo has earned thousands of dollars mining Ethereum. While most children are distracted by their computers, siblings Aanya Thakur (Ishaan Thakur) make their own money using theirs. The brother-sister pair are currently earning $ 32,000 per months from their Ethereum mining company that they started out of their garage.
After their father had told them about Bitcoin, the couple became more interested in cryptocurrencies. Although the siblings were initially interested to buy the cryptocurrency, the price had risen so much they decided to go mining instead. They discovered that bitcoin mining was becoming an oversaturated market. They chose Ethereum as the second largest cryptocurrency in terms of market cap.
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They had an old gaming computer that they used to mine Ethereum. They had already made $ 1,000 in their first month of operation from their small farm. This motivated the couple, who had previously been able to make a good profit from an old gaming computer. The first problem was that crypto mining requires chips to be mined.
COVID-induced flea scarcity
Aanya and Ishaan, their siblings, wanted to expand the mining operations. But due to the pandemic, chips have been in short supply. Due to shortages in supply and country lockdowns, manufacturers have not been able meet demand. It is now more difficult than ever for miners to obtain the necessary chip. The pair had two options: either buy tokens online at a high price or wait until they are available. They chose the latter.
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Aanya, 9 years old, and Ishaan (14 years old) signed up to receive supply updates by retailers such as Micro Center and Best Buy. They were notified by email when the equipment and chips needed for their mining operations became available. The siblings then gathered at the nearest retailer before the store opened the next morning so they could get the parts.
This strategy proved to be profitable as they were able to expand their mining operations from their home garage. They decided to move their mining equipment out of their garage because they were producing too much heat. So they have an air-conditioned data centre in downtown Dallas, where they store most of their mining equipment. They still have around thirty cards in the garage.
Ethereum to Extend College Fund
Siblings earn the majority of their income through mining. To pay for electricity and coins, they had to sell a portion of their crypto. Ishaan explained that the university fund receives any mining profits. The siblings want to be doctors and plan to attend the University of Pennsylvania (in Ishaan’s case) and New York University (in Aanya’s case). They hope Ethereum mining will help their college dreams.
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Their electricity costs are much higher than their mining expenses. They had to pay $ 2,500 to $ 85 for their home electricity bill, and $ 1,650 to their data center electricity bill for the month before. This electric bill is not cheap, but it is much less than the $ 32,000 that their siblings make from their mining operation.
The current configuration includes 14 platforms with 82 processors to mine Ethereum. Five platforms with 12 processors were used by their siblings to operate. RavencoinThese processors aren’t powerful enough to mine Ethereum. Flifer Technologies is the name of their company. They have ordered four additional mining machines from China with integrated processors.
Source :| Source: TradingView.com: ETHUSD
Featured image by Dallas News, chart from TradingView.com