- According to CNBC, Ishaan Thakur, 14, and his sister Aanya, 9, mine bitcoin, ether, and ravencoin.
- They claim to make more than $30,000 a month, and their father assisted them in starting their own business.
- The siblings mine from their house in Dallas, Texas, as well as a rented data centre.
Ishaan Thakur, 14, and his 9-year-old sister, Aanya, spent their summer developing a successful cryptocurrency mining business.
The duo, who are headquartered in Frisco, Texas, told CNBC that they generate more than $30,000 per month mining bitcoin, ether, and ravencoin, an altcoin with a market cap of $897 million, according to Coinbase.com.
The siblings began mining ether and made $3 on their first day. In July, as their revenues increased, their father purchased specialised mining hardware and graphics cards, allowing them to mine bitcoin and ravencoin.
From their home and data centre in Dallas, which the family leases, they conduct their mining activities.
Ishaan said that his mining operation solely uses “100% renewable energy.” A considerable amount of computational power is required for Bitcoin miners to tackle complex arithmetic problems.
Twitter flooded with tweets about these two cubs generating money from thin air.
When decided which coin to mine, Ishaan opted for Raven coin.
A user cracked on this news and wrote a critic tweet.
HOW MINING WORKS?
Each time a miner solves a problem, they are rewarded with a bitcoin, despite the fact that the process has been criticised for its negative environmental impact due to its energy use.
Many people have been able to earn hundreds, if not millions, of dollars by mining and investing in cryptocurrency in quite short periods of time.
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