The beauty behind cryptocurrency networks like Bitcoin is the fact that anyone can participate in the field of crypto mining. In fact, two siblings explained in a recent interview that they rake in more than $30K per month mining digital assets.
Kid Duo Captures $30K a Month Mining Digital Currencies
A 14- and 9-year-old brother and sister pair have made headlines in recent times for explaining how they make over $30,000 a month mining crypto assets. The 9-year-old Aanya Thakur and her brother 14-year-old Ishaan mined three types of digital currencies this summer because they “wanted to learn something new about technology – and also make some money along the way.” The two appeared in a CNBC report published by the reporter Taylor Locke and the CNBC broadcast “Make It.”
According to the Thakur siblings, the duo mines bitcoin (BTC), ethereum (ETH) and ravencoin (RVN). Youtube videos taught Ishaan how to convert his Alienware computer into a mining rig and at first, the siblings mined ethereum to start. “Crypto mining is just like mining for gold or diamonds,” Ishaan explained in his interview. “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,” he added.
Ishaan and Aanya liked mining so much with the help of their dad they started a mining firm called Flifer Technologies. “We liked it so much that we started to add more processors [or chips], and made $1,000 in our first month,” Ishaan remarked. At the end of July, the duo was able to purchase other equipment like SHA256 capable ASIC Antminers, alongside Nvidia RTX 3080-Ti GPUs. Ishaan stressed:
We can process a little over 10 billion Ethereum algorithms per second.
Siblings Operation Leverages 100% Renewable Energy
The duo’s father Raj did help get the team going and took out a loan for the brother and sister team to expand. The report by Taylor Locke details that Raj would not disclose the size of the loan. The story about the Thakur siblings follows the tale about the 12-year-old “Weird Whales” NFT creator that made a few hundred thousand dollars in ether selling his NFT collection.
There’s been a number of young people that have stepped into the world of cryptocurrencies at a young age. In 2018, a 15-year-old security researcher shared a Ledger hardware wallet exploit he found. The same year, a 14-year-old developer built an uncensorable voting platform. The brother and sister from Texas who started Flifer Technologies explained during their interview that when they mine crypto they use “100% renewable energy.”
“We moved from my desk to the garage, since the house was getting too much heat and noise,” the Thakur siblings said. “[W]e outgrew the garage, since heat and noise [were] too much for the garage too. 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.”
What do you think about the 14- and 9-year-old brother and sister duo who decided to start their own mining business? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Stewart F. House,
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Need Your Help Today. Your $1 can change life.