Youth From India, Use Tesla Car To Mine Bitcoin, Here's How!

Bitcoins can be mined from Tesla cars. (photo: doc. pixabay)

JAKARTA - Mining is no longer a labor-intensive outdoor activity, if this term is associated with cryptocurrencies. It is the process by which new cryptocurrencies enter into circulation when users form a blockchain network using a sophisticated set of hardware.

Creating this network for the blockchain ledger is very expensive and requires a lot of electricity which is also very expensive. But Bitcoin and Ethereum miners have found a way to minimize electricity costs by connecting his MacBook to his 2018 Tesla Model 3. The miner named, Siraj Raval, claims that he earned $800 during the peak of the crypto boom early last year.

As reported by CNBC, Raval connected a series of GPUs to its Tesla "funk." The car's large battery basically acts as a power source which can comparatively help reduce maintenance costs. However, fiddling with Tesla cars certainly affects the warranty, but Raval tells us it's "worth it."

Talking more about his blockchain network using Tesla cars, Raval said, “This is a computer with wheels… It is very easy to hack into this computer car.”

He appears to have connected five GPUs to his Tesla battery which helps him mine Ethereum crypto using the Algorithm. He also uses an Apple Mac Mini with an M1 chipset and a 12-volt power socket located in the center console of his car. The inverter is able to adjust the voltage to keep it stable

The Tesla Raval car, as reported by news18.com, is capable of offering around 514 km of travel per charge, and charging takes about 15 (Rp 215 thousand). His monthly expenses for charging reached 40 US dollars (Rp 573 thousand). That can be lower than the monthly electricity bill, especially when mining cryptocurrencies. However, Tesla cars themselves are not cheap and can cost up to $100,000.

Leading Bitcoin miner Alejandro de la Torre told CNBC that connecting a GPU to a car inverter is "no big deal." However, Tesla hacker and crypto miner Thomas Sohmers said the move was unnecessary.

The report also adds that the profitability of this process hinges on many things when the Tesla car is purchased. YouTuber and Tesla modifier Chris Alessi known as KmanAuto said a person is eligible for a recharge if the car was purchased before January 2017.

Alessi added, “Did it work? Yes. Is it mining something of value to be able to profit in any way, shape or form? No." Raval, on the other hand, is optimistic about the return on his investment. At least he can still drive a Tesla as a vehicle in his daily life.