They use the batteries of a stopped Tesla to mine cryptocurrencies | Technology

They use the batteries of a stopped Tesla to mine cryptocurrencies |  Technology

This crypto miner claims to be able to practically live off his Tesla by mining cryptocurrencies like Ethereum, and so on every month.

If you want to make the purchase of your newly acquired Tesla even more profitable, you are likely to be interested in a series of experiences that the medium has collected CNBC about owners of these electric vehicles who are using them, when they are unemployed but active, to mine cryptocurrencies like Ethereum.

And it is that an owner of a Tesla has discovered a way to extract cryptocurrencies using your vehicle while it is on but idle, and for this it only requires the relevant graphics cards and an Apple Mac Mini M1.

Specific Siraj raval He is using a 2018 Tesla Model 3 to mine cryptocurrencies, using an Apple Mac Mini M1 and various graphics processors bought from eBay, although he has not given their specific names.

Raval claims to be able to extract more than $ 800 a month Using this process, and although the user is aware that using the vehicle in this way will void his warranty, he does not seem to care because he considers that, in the long term, it will be much more profitable.

However, it has detractors, because Chris allessi, the first electric car dealer in the state of Wisconsin, believes this method has very few benefits. It seems that he had previously tried this method, at least in 2018, and it was not very profitable.

Allessi says that in 2018, in just 60 hours, he was able to earn about $ 10 in Bitcoin, and at that point he didn’t have to pay for the additional electricity his 2017 Tesla Model S was using. rented him.

But Raval reiterates that his method does work and is profitable, stating that your Tesla’s battery power is far superior to other options. He explains that his 2018 Tesla Model 3 can travel up to 515 km on a single charge, spending between $ 10 and $ 15 to fully charge the battery.

He adds that if he drove the vehicle for a few hours a day, the charge would only take place every week and a half, and that his bill at the end of the month would be estimated at only between $ 30 and $ 60.

In particular, Raval is extracting more than 20 hours a day in your vehicle Tesla, betting on Ethereum and points out that you may end up getting a 23% annual percentage return on your investment in Midas Investments.

Another detractor is Thomas sohmers, who argues that the amount of profit that Raval is claiming they are practically impossible. “The best estimate you would have for the GPU hash rate on Model 3 would be around 7-10 MH / s. Currently at 10 MH / s, that would bring in revenue of roughly $ 13.38 in ether, before any expenses“.

In any case, Raval wants to take this project much further, and hopes to turn his Tesla into an autonomous taxi robbery, while earning cryptocurrencies when not in use.