- Tesla mining profitability
Siraj Raval, after connecting the GPU to the battery of his Tesla car, was able to mine ETH worth about $ 800.
According to a CNBC report, 2018 Tesla Model 3 owner Siraj Raval successfully mined around $ 800 worth of Ethereum around the time the asset peaked in 2021.
Raval said he was able to connect graphics processing units (GPUs) to the car’s battery. He also ran free bitcoin mining software on his Apple laptop, which is powered by a power outlet located in his car.
Interestingly, Raval isn’t the only one experimenting with mining via a car. The report says that another Tesla car owner, Chris Allessi, tried to mine cryptocurrencies – Bitcoin, Ethereum and Monero – back in 2018 through his car.
Alessi connected the Bitmain Antminer S9 to his car’s battery.
Tesla mining profitability
Cryptocurrency mining is an integral part of the cryptocurrency world. By launching specialized software, miners can create new coins and also help to confirm transactions on the blockchain. However, this industry has faced some opposition from the authorities due to the amount of energy required to extract the assets.
On average, a 2018 Tesla Model 3 costs more than $ 40,000, and by making changes to the vehicle’s software, these users risk losing their warranty, making a profit of less than $ 1,000 a month.
Allessi stated that while Tesla mining can be profitable, it isn’t worth the strain.
According to him:
“Why would you expose a $ 40,000-100,000 car to such wear and tear? And now, although the price of bitcoin has increased significantly, the difficulty level is too … For the same time with the same equipment, I will probably get $ 1 or $ 2 bitcoin “.
However, Raval has a more positive outlook on Tesla mining. According to Raval, he ensures profitability by betting on the extracted assets through an investment company, which guarantees him about 23% more than his investments.
He also makes sure never to convert mined assets to fiat money and buys used GPUs on eBay. All of these actions helped him earn between $ 400 and $ 800 a month in 2021.
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