Mining is no longer a labour-intensive outdoor activity as the term gets frequently associated with cryptocurrency these days. It is the process by which new cryptocurrencies enter into circulation as the user(s) forms a blockchain network using a series of sophisticated hardware.
Creating this network for a blockchain ledger is painstakingly expensive and demands too much electricity (that is also very costly). It appears a Bitcoin and Ethereum miner has figured out a way to minimise the cost of electricity by connecting his MacBook to his 2018 Tesla Model 3.
The miner Siraj Raval claims he was netting $800 (approx Rs 60,000) during the peak crypto boom early last year.
Raval’s Tesla car offers roughly 320 miles (514 km) per charge, and charging takes roughly $15 (approx Rs 1,100). His monthly expense on charging stretches to $40 (approx Rs 3,000).
It could be lesser than the monthly electricity bill, especially when you’re mining crypto. However, Tesla cars themselves are not cheap and can cost up to $100,000 (approx Rs approx 74 lakh).
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