This Texas-based brother-sister duo is doing something a lot of us are still novices in – building a business in the field of Cryptocurrency mining. All of 14 years, Ishan Thakur and his 9-year old sister Aanya Thakur wanted to learn something new during their summer break and also earn out of it. And, they found a rather novel way to do so. With their parents’ support and taking advantage of their computers, the Thakur siblings now make over $30000 (Rs. 21,91,000) mining three digital coins. After their father, Manish Raj introduced them to Bitcoin, both of them started researching on cryptocurrency. First, they wanted to buy cryptocurrency, but as the costs involved were exorbitant, settled on mining them. They decided to mine Ethereum due to bitcoin mining market saturation.
How the duo earns through mining
Cryptocurrency mining is not as easy as it seems to be. For one, it requires heavy and expensive equipment, as one graphic card costs close to $3000. Secondly, a lot of energy is consumed and powerful computers are needed. Also, to learn how to mine, one should be interested in technology. YouTube videos and surfing the internet for information helped Ishan convert his gaming computer Alienware to an ether mining rig by using graphics card used for making high level mining calculations. On their first day they made $3, and slowly over a month, by adding more processors earned $1000. Their earnings continued to rise, and equipment like Antminers and Nvidia RTX3090 graphics cards were bought, to start the process of bitcoin and ravencoin mining too. They now have over 97 processors that were secured with a loan, as procuring these chips during the lockdown proved expensive and difficult. As mining produces a lot of heat and noise, they have rented a data center in downtown Dallas where they have kept most of their mining rigs. However, to be on the safer side, they still have 30 cards in their home garage, where they first started their mining operations.
How they plan to use their earnings
The duo has named their company Flifer Technologies, and in order to expand their business, they have ordered four mining rigs from China that have in-built processors. They have made an astounding $32000 through mining and they plan to re-invest in business. They also want to finance their education with it. Ishan wants to be a doctor and wants to attend University of Pennsylvania whereas Aanya also plans to study medicine from New York University.
Ishan and Aanya could have spent their summers enjoying, or even playing video games. But cryptocurrency mining got the better of them. And they got the best out of it. Way to go!
