During the summer holidays, do all teenagers just gamble and waste their time? Are you kidding me? Are you serious when you say that. These two siblings built a small, thriving mining empire during their summer vacation, making $ 30,000 a month in sales.
The US news broadcaster CNBC announced a recent published Contribution presented two young siblings who are vastly superior to their peers in terms of entrepreneurship. Because the two of them built up a small mining business during their school vacation that generates an impressive 30,000 US dollars a month.
They are 14-year-old Ishaan Thakur and his 9-year-old sister Aanya, who live in the small Texas town of Frisco. Summer vacations in the United States often start in July or August and are typically eight to twelve weeks long. School usually doesn’t start again until September. So enough time to either relax, play the computer or do other typical teenage things. But there is another way. Namely, as in the example of the two siblings, simply starting a business.
Bitcoin mining: child’s play?
The story begins with the two of them wanting to learn something about new technologies – and spicing up their pocket money a little at the same time. After deciding not to fill their summer with computer games, they came across the topic of blockchain and bitcoin mining. Ishaan: “We could have spent the whole summer playing video games, but instead we used our free time to learn about technology”.
Ishaan watched videos on YouTube and learned about Bitcoin mining. Ultimately, he had so much confidence in his newly acquired skills that he repurposed his Alienware Gaming PC and used it to mine Ethereum.
From $ 3 to $ 1,000 in the first month
The two siblings report to CNCB that they only generated $ 3 in sales on the first day. But neither of them let that discourage them – they stuck with it. And at the end of the month, they were rewarded with US $ 1,000 for their perseverance.
They reinvested the profits and added more and more processors. As the profits grew bigger and bigger, the two crypto-mining siblings were also able to buy more professional equipment, such as an Antminer and an Nvidia GTX graphics card. With these they could also mine other crypto currencies – in addition to Ethereum, the siblings also mined Bitcoin and Ravencoin from then on.
Tail wind from father
The two siblings didn’t make it without any help. Her father, Manish Raj, is a former investment banker. So in this family the traditional financial world meets the digital asset Bitcoin. The father took out a loan and the siblings were able to buy 97 processors. Raj did not want to say exactly how high the loan amount was. However, he pointed out that the global shortage of computer chips is not bypassing the mining scene either. Because the lack of chips leads to higher prices.
Your mining business started very small, on the desk of one of your siblings, where homework is usually done. However, due to the energy-intensive mining, it quickly became too loud and too hot in the house. More and more mining equipment was added and they had to relocate their business activities, it went into the garage. The family now pays around $ 3,000 for their monthly electricity bills.
That went well for a while. But after it got too hot, loud and cramped in the garage, it finally went to a data center. This is located in downtown Dallas. And the siblings’ mining site is still there today.
What are the two of them planning to do with their winnings?
Furthermore, despite the enormous profits in mining, both siblings dream of studying medicine and becoming doctors. So some of the income should be used to create a cushion for studying.
In any case, the two of them still have time to think about their path in life. Because Ishaan has just started high school and Aanya is only in fourth grade.