These 14- and 9-year-old siblings earn over $30,000 a month mining cryptocurrency

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Author: Taylor Locke

Date: August 31, 2021

Link: https://www.cnbc.com/2021/08/31/kid-siblings-earn-thousands-per-month-mining-crypto-like-bitcoin-eth.html

Ishaan Thakur (14) and his young sister Aanya (9) built a new business on cryptocurrency mining Bitcoin, Ether, and Ravencoin. The process of mining for cryptocurrency Ishaan mentions is like mining for gold and diamond, but using computers instead of shovels. The process was not easy. As it not only required lengthy amounts of time but their decision to utilize 97 processors pushed them to go as far as acquiring help from their father to take a loan (which he declined). However, with the added processors, their earnings shot up to $1000 within their first month. Additionally, they used mostly Nvidia RTX 3090 graphics cards which costs $2500-$3000 each with consideration of the global shortage. Their efforts prevailed as their setup scaled up moving from inside the home to the garage to a professional air-conditioned data center!

Analysis

The amounts of money, time, and other external resources the siblings were able to lend to this project are truly respectable. The shocking fact is that these two have although completed something that even many adults hold back to do, they are not the only children that have had the motivation and success of learning about this content. They prove that learning about business and finances is not something people have to wait to be an adult to indulge in. Additionally, although their motivational beginning was not entirely clear, one point that drove them to begin this journey was the make a little bit of money. As young as 14 and 9 years old, these two had already had an understanding of the value of money–enough to give them a bit of a push to do this project. Additionally, with countless graphics cards, these two are not simply dealing with tiny bits of allowance money, but thousands of dollars coming in and out of their budget to upstand this business.