How a 9 and 14 year old are making $35000 a Month by Mining Bitcoin
A 14 years sibling and 9 years sister in North Dallas are making $35000 per month by mining Ethereum. We are going to read their story and know more about How to Mine Bitcoin or How to mine Cryptocurrency.
Ishaan Thakur 14, and his sister Aanya 9 learned Bitcoin and Cryptocurrencies from their dad, who informed them about it over dinner and bedtimes.
On the first day, they made $3 from their gaming PC in April this year.
They started mining to learn technology at first, but it is more fun if you can make money as well. “Mining seems complicated at first, but it’s simple actually”, says Aanya.
Most of the mining work involves the initial setup and fine-tuning of computers, says Ishaan, 14. They learned how to mine bitcoin by watching YouTube videos.
They made $1000 in the first month. They invested their earning to buy additional hardware, signing up for supplies from nearby electronic stores. They currently have almost 100 processors for mining.
They are now working on creating their own cryptocurrency named Filfer Coin and planning to launch it later this year.
Mining at the house was good when their setup was small. Now that they have added many computers to their inventory, their house cannot handle so much noise and heat. Therefore they have rented a professional data center in Dallas.
“Once the computers are set up, the machines run by themselves with just a little extra work. Since school has started, we can only do crypto mining work on weekends,”
“My parents ensure that we focus on school first. We have employed professionals at Dallas Datacenter to help when important. Since we are at school, the experts monitor the machines to ensure they are working as expected,” he adds.
Cryptocurrency mining utilizes modern PCs that take care of complicated computational mathematics issues.
For example, Bitcoin miners get Bitcoin as an award for finishing “blocks” of verified transactions, which are added to the blockchain. Miners need either a graphics processing unit (GPU) or an application-specific integrated circuit (ASIC) to set up a mining rig.
Cryptocurrency mining in the previous days was generally simple and might have been finished with a PC’s Central processing unit (CPU). However, mining has witnessed a rise in difficulty levels and miners need to have the latest technology.
A layman can do crypto mining with a respectable gaming PC. Then, at that point, they simply need to plug their details into a mining site/hash power broker, which will give them an advanced digital wallet where the cryptocurrencies will be credited.
“We fundamentally mine Ethereum, yet in addition do Bitcoin and Ravencoin,” Ishaan says. “We pick what to mine dependent on what’s ideal for each chip we have. A large portion of our chips is Nvidia RTX 3090, which is incredible for Ethereum. Yet, when we get different chips, we mine different currencies.”
The sibling and sister utilize the cryptocurrency exchange platform Coinbase to store the digital tokens they mine.
The method involved with mining requires a ton of energy and PC power. However, the siblings’ electricity bill amounted to less than 10 percent of their mining income. Mining isn’t harmless to the ecosystem because it is an intense computing process, in which the GPU often heats up to about 80-90 degrees Celsius. This means there is a need for air conditioning and exhaust fans in tropical countries.
“The expense of the power is a critical factor in mining and the nations with the least expensive power cost will, in general, be awesome for mining,” he says.
“Mining at the house was fine when our set up was little. Since we have so many PCs, the house can’t deal with the warmth and noise. Therefore, we have rented a professional air-conditioned data center in Dallas. We build and test the computers at home and then send them to the data center,” Ishaan says.
The sibling and sister say they will keep on digging for cryptocurrencies as they love the process.