The city of Frisco, Texas, USA, is attracting local media attention. A 14-year-old teenager and a 9-year-old are making money by mining cryptocurrencies in their garage.
According to the Dallas News, 9-year-old Aanya Thakur and her 14-year-old brother Ishaan are earning $32,000 (about 169,305.60) a month mining Ethereum.
Before that, as we see in the movies, the brothers used to have a lemonade stand that brought in about $100.
Who discovered the idea of mining cryptocurrency and told the young people was the children’s father, in February of this year. Seeing the prices of cryptocurrencies rising and the possibility of mining them, the Frisco duo came up with the idea to make money from mining Ethereum.
To the Dallas News, Ishaan said: “We wanted to invest in this, but we didn’t have the money to buy Bitcoin. So instead we buy the equipment to mine it.”
They started mining in March with an old gaming computer, earning $1,000 in the first month. Last month they earned over $32,000.
And they use the earnings to buy more mining equipment for their company, Flifer Technologies, which they created on April 30th.
They decided that Bitcoin had become too competitive, so they opted to mine Ethereum.
Building a cryptocurrency platform came with a major complication of the COVID era: the shortage of mining chips, as published by the Cointelegraph.
Ishaan and Aanya signed up to receive updates on the arrival of equipment from a local store.
When they received an email at dawn alerting them to the arrival of the pieces, they would line up hours before the store opened the next morning.
The main equipment needed is video cards, which use software to guess the right code to get a bitcoin.
They have 94 mining processors and mostly use Nvidia RTX 3090 graphics cards. When computers guess the correct code, they get a bitcoin. It’s a guessing game, and its current setup makes about 9 billion guesses per second.
They hope their profits will help them pay for college. Ishaan hopes to go to the University of Pennsylvania and become a doctor. Aanya wants to go to New York and become a doctor too.
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