A 14-year-old boy and his 9-year-old sister from a suburb of Dallas make up to $32,000 a month mining Ethereum. They save money for education.
Dallas Morning News tells the story of two teenagers, brother and sister, who started mining Ethereum this spring. Ishaan Thakur, 14, and his sister Aanya, 9, started mining ETH on an old gaming computer in March. That month they made $1000.
They learned about cryptocurrencies from their father. At first, they just wanted to buy coins, but then they decided that it was too late to enter the asset.
“We wanted to invest in it, but we didn’t have the money to buy bitcoin,” Ishaan said. “So instead, we bought the equipment to mine for it instead,” Ishaan admits. With the help of YouTube and with the support of their father, the children learned how to set up a computer for mining. They reinvested the proceeds from mining ETH in the purchase of additional equipment, Nvidia RTX 3090 and chips. Now they have 14 rigs with 82 processors mining Ethereum, and 5 small rigs with 12 processors mining Raven Coin.
They placed the mining rigs in their garage, but then, as the farm expanded, they had to move them to a data center with an air cooling system in downtown Dallas. A small farm with 30 video cards remains in the garage.
Their household electricity bill rose to $2,500 per month, while the standard bill for similar homes in this part of that suburb is $500. The children used part of the ETH they earned to cover expenses such as equipment, rental of accommodation in the data center, and electricity. But they keep most of the ETH coins in the hope that its price will continue to grow.
This is not Ishaan's first entrepreneurial experience. He has previously designed a construction helmet with a built-in solar-powered minifan.
They expect to spend the mined cryptocurrency on education. Ishaan wants to go to the University of Pennsylvania and become a doctor. Aanya also wants to become a doctor, but study in New York.