The Tesla user creates a blockchain network using a series of devices, and new coins enter circulation as a result of this procedure. This is not a simple task; building such a network is costly, and it requires a lot of electricity.
Nowadays, mining is more linked with cryptocurrencies than it is with labor-intensive activities.
However, according to CleanTechnica, a bitcoin and Ethereum miner has discovered a means to receive low-cost electricity by connecting his MacBook to his Tesla Model S from 2018.
Based in San Francisco Siraj Raval mines Ethereum using a network of GPUs connected to the battery of his Tesla automobile. He explained to CNBC how he mined cryptocurrency using the car’s internal computer and battery power. During the peak year of 2021, he claims to have earned $800 per month.
According to CNBC, he used free bitcoin mining software on his Apple MacBook and powered it with an inverter plugged into the car’s center console’s 12-volt power outlet. Despite the fact that this voids the car’s guarantee, he accepted its value.
His vehicle is essentially a computer on wheels.
More specifically, he tells CNBC that his blockchain network is a computer on wheels, and that hacking into the computer automobile is trivial. All of this was accomplished through the use of an algorithm. His Tesla automobile has a range of 320 miles (about) per charge, and charging costs $15. His monthly charging costs were up to $40, which was likely less than his monthly electricity expenditure when mining cryptocurrency.
Tesla, on the other hand, is a costly car, costing up to $100,000. Raval buys secondhand GPUs on eBay to keep his setup costs down.