These Siblings Earn $30K A Month By Mining Crypto With Renewable Energy
Nine-year-old Aanya Thakur and her 14-year-old brother Ishaan
are not your typical siblings.
It became clear this past summer in Frisco, TX when the siblings wanted to learn how to mine digital coins while earning money.
Little did they know their curiosity would lead to earning over $30,000 per month by tapping into cryptocurrencies. How you may ask? The duo mined bitcoin — the world’s leading cryptocurrency — etherand ravencoin, CNBC reports.
“Crypto mining is just like mining for gold or diamonds,” Ishaan said in an interview with CNBC. “Instead of using shovels, you mine with computers. Instead of finding a piece of gold or a diamond in the mine, you find a cryptocurrency.”
How The Siblings Struck Gold
Despite difficulties navigating the complex computer programming, thanks to the internet and YouTube videos, Ishaan was able to convert his previous gaming computer to an ether mining rig. Only second to bitcoin in market capitalization, ether was the clear winner for the sibling’s starting point due to its less competitive nature in the market.
Initially, the pair made only three dollars, but the siblings were eager to continue forward with the venture. On April 30, with the help of their supportive father Manish Raj, they established a mining company Flifer Technologies and saw an upscale in their revenue.
“We liked it so much that we started to add more processors [or chips], and made $1,000 in our first month,” Ishaan revealed.
Newfound earnings helped the siblings purchase new equipment, which became their gateway into bitcoin and ravencoin.
Their risky investment venture paid off. In September alone, the pair are expected to earn an impressive $36,000, which is credited to the new equipment expediting their workflow.
“We can process a little over 10 billion Ethereum algorithms per second alone,” Ishaan said.
The Siblings & Their Ventures
Sustaining the success of the crypto venture has been costly. The family’s commitment to ensuring their business is environmentally friendly led to a decision to invest in a data center. Their electricity bill between their home and center now costs just under $3,000 per month.
“We moved from my desk to the garage, since the house was getting too much heat and noise. [W]e outgrew the garage, since heat and noise was too much for the garage too,” Ishaan said. “We now use the garage only for building and testing mining rigs. When they are ready, we move them to a professional, air-conditioned data center in downtown Dallas.”
In addition to the electricity bill, the costs of supplies are excessive due to shortages. The Nvidia RTX graphic cards cost up to $3,000 each and 97 processors were purchased through a loan taken out by their father, who previously worked as an investment banker.
The Siblings & Their Future
The siblings are committed to growing their business and with school in session, the pair have no plans on slowing down. They plan to use their earnings to not only reinvest but to also fund their college education.
Ishaan hopes to become a doctor and pursue medicine at the University of Pennsylvania and his sister is following suit but hopes to attend New York University.
The future is looking bright for the crypto miners.
Samantha Dorisca is a Houston-based journalist and photographer whose mission is to impact communities through the gift of storytelling using the written word or visual media