Tesla Owners User Cars to Mine Bitcoin

Tesla owners can now mine Bitcoin (BTC) and Ethereum while their car is idle.

A few years ago, a user posted on an online cryptocurrency forum about using their Tesla to mine BTC. The idea spread as people continued to work on ways to make the process more efficient and feasible. Now, some are reporting great returns as the cryptocurrency market flourishes.

Mining cryptocurrency from your vehicle is not an easy task. The process involves connecting both a laptop and a graphics card to a Tesla’s battery and configuring it to run on idle power. This setup is risky as it voids the manufacturer’s warranty, but some users have not been deterred.

The biggest issue for cryptocurrency mining is the amount of power required. The price of electricity in major cities is so high that mining cryptocurrency is not lucrative.

Using a Tesla battery as an energy source has some users reporting earnings up to $800 a month. The miners run for roughly 20 hours a day while the car is idle and the car is charged through driving and also from free charging stations located around the city.

This trend is now growing and users are attempting more extreme measures with their Tesla hardware and software. One user announced that they had managed to hook up an expensive BTC mining rig, called an Antminer to their Tesla. Other users have reportedly manipulated the Tesla software to mine altcoins.

While many users point to the profit they are making in the short run from Tesla mining, many of them know this will put additional stress on the vehicle.

Some Tesla mining influencers have suggested manipulating the car’s software to allow for more energy output which could increase the need for a replacement car battery.

Tesla batteries are by far the most expensive part of the vehicle and replacements can cost up to $20,000. Alongside battery costs, cryptocurrency mining hardware is not cheap, and your insurance is not likely to cover these costs if the car is stolen.

It is good to see cryptocurrency enthusiasts looking for unique ways to keep the network running. The more cryptocurrency miners there are, the more resistant BTC and other networks are from being shut down. Currently the US is the world’s leader in BTC mining.

Source

Updated: 01/12/2022 — 06:00

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