It’s not every day that you make a profit using your stand-still car. But, this man has managed to do just that by mining the cryptocurrency using his Tesla. Siraj Rawal uses his 2018 Tesla Model 3 to mine cryptocurrencies. Mining cryptocurrencies is a very power-intensive process and can significantly increase your electricity bills. Then how does he manage it?
A CNBC report describes how Raval has turned his car into a mining device for some of the most popular cryptocurrencies. According to report goodRaval managed to earn up to $800 (approximately Rs.60,000) of cryptocurrency per month using his Tesla. He claimed that he managed to reach the $800 mark when the Ethereum cryptocurrency was at its peak. They claim that the earning is generally between $400 to $800 per month.
How does one use a car to launder cryptocurrencies?
Raval used the car’s batteries to power the rig. He further used the Tesla Model 3’s frunks to bolster some of the GPUs which eventually helped do all the calculations.
Obviously doing all this with your car will void the warranty. However, that aspect doesn’t bother Rawal. He claims it’s really ‘worth it’. Rawal tries to mix and match different mining arrangements using his car. They concluded that the easiest way to do this is to hack the car’s computer and simply setup the GPU. Given that Tesla already has a lot of processing power to run features like self-driving technology, it’s compatible enough to serve as a CPU for mining rigs. Hacking the car’s computer allows more power to be routed to the powertrain rig.
Rawal claims that he has to pay for the amount of electricity he is using, but it takes around $10 (about Rs 750) to recharge his car. While we cannot be sure whether this setup will continue to be profitable or not, it adds to the risk manifold by including an expensive car in the mix. WARRANTY OR NO WARRANTY, A bad battery will reduce the vehicle’s range over time.
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