Tesla cars have always been popular in the news media. They have gained this popularity over the years for their autonomous tech and ease of use. Another thing that has gained sky-high popularity in the last few years have been cryptocurrencies. They are touted as the future of currencies by a lot of experts. Elon Musk, the founder of Tesla, is also a big believer and investor in cryptocurrencies. Now someone in the USA has used his Tesla car to mine Cryptocurrency, using his Tesla car as a source of income. According to the claim he was netting $800 (approx Rs 60,000) per month during the peak crypto boom. In today’s article, we will see how Tesla could be the car for Crypto users.
How did this work?
Mining is a process by which new cryptocurrencies enter into circulation to form a blockchain network using sophisticated hardware. Creating this network is expensive and uses a lot of electricity. A miner Siraj Raval has figured out a way to minimise the cost of electricity by connecting his Macbook to his Tesla Model 3. Raval used to connect a series of GPU’s in the frunk of his Tesla. He had seemingly connected five GPUs to his Tesla battery. The car’s battery acted as the source of power and helped reduce the cost of electricity. Raval had entered into the system by hacking it.
Is it cost-effective?
According to Raval, it is quite cost-effective. As his Tesla has a range of 514km per charge and a full charge takes around $15(Rs 1,111). He used to spend around $40 (approx Rs 3000) per month. This is quite an affordable bill considering the power used on mining and the returns he got from his crypto’s. But Tesla cars are not cheap and hacking the system basically voids any warrant and support from Tesla in the future.
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