In Frisco, Texas, two Indian-American siblings are demonstrating an early aptitude for cryptocurrencies and commerce. Ishaan and Aanya Thakur, 14 and 9, have been mining bitcoin for over a month and have earned over $30,000 each. By watching YouTube tutorials and using their money and a loan from their father, Manish Raj, to upgrade their equipment.
The Lone Star State is home to some of the top talents in the country.
Ishaan told CNBC Make It that cryptocurrency mining is similar to gold or diamond mining. “Instead of using shovels, you mine with computers. Instead of finding a piece of gold or a diamond in the mine, you find a cryptocurrency.”
The twins explained that they picked mining because they wanted to learn something new about technology while still making money. They created a firm, Flifer Technologies, after a promising start.
Ishaan explained, “We could have spent the entire summer playing video games, but instead we used our spare time to learn about technology,”
However, mining is not inexpensive. Advanced technology, like CPUs and graphics cards, is required. Approximately $3,000 is spent on each card. Price increases have also resulted from a worldwide scarcity of computer chips.
The power cost has also increased to over $3,000 per month. The father of the children was forced to take out a loan as a result of this. When feasible, Ishaan and Aanya employ sustainable energy and rent a data center.
“We now use the garage (at home) only for building and testing mining rigs. When they are ready, we move them to a professional, air-conditioned data center in downtown Dallas,” Ishaan told
“We can process a little over 10 billion Ethereum algorithms per second” with the infrastructure update and choices, according to Ishaan.
The Thakurs intend to put their profits back into Flifer. The kids also want to contribute to their college fees.
Ishaan and Aanya desire to go to medical school. However, for the time being, processors are taking precedence over pulse rates.