Ishaan Thakur (14) and his younger sister Aanya (9) are still very young. But who would have thought that the two of them managed to earn USD 160,000 from mining cryptocurrencies for seven months through their business, Flifer Technologies.
Ishaan and Aanya first started mining crypto in April, and on the first day they only made USD 3. Their business has grown rapidly in the last seven months, and in October alone both managed to rake in USD 64,000.
"Even though now we make a lot of money, we are now as proud as when we only made $3 per day, because our main prize is not money," Ishaan said, as quoted by CNBC, Tuesday (16/11/2021).
"My favorite part about our experience is that we learn about new technologies."
Ishaan said the cryptocurrency they mine more often is Ether, followed by Bitcoin and Ravencoin. Ether is the second largest cryptocurrency, while Bitcoin is currently the largest cryptocurrency.
Ishaan and Aanya first learned to mine crypto money from YouTube and the internet. The brothers' business is funded by their father, Raj, who is a former banker.
Ishaan and Aanya admit that they currently have nearly 200 flagship-class graphics cards, namely 100 Nvidia RTX 3090s, 50 Nvidia RTX 3070Ti, various Nvidia 30-series graphics cards, and 24 dedicated bitcoin mining machines.
The Nvidia RTX 3090 graphics card currently costs anywhere from USD 2,500 to USD 3,000. But the global chip crisis made these graphics cards hard to find, and they cost more.
All the computers used to mine cryptocurrencies were assembled by Ishaan himself. He admits that his computer can process more graphical transactions per second than NASA can.
"Many of my friends like to play games on their computers. On the other hand, I just like to assemble computers for fun," he said.
The business that initially operated in the garage of the house has now moved to a data center in Dallas, Texas. This operation costs USD 5,000 per month just for electricity, and about USD 4,000 per month for the technicians who monitor the machines.
For Ishaan and Aanya, mining cryptocurrencies is just the beginning. In the future, they plan to create their own cryptocurrency called Flifercoin. They have hooked up developers and lawyers to help with the process.
“We think there are so many opportunities involving crypto and we hope to be a pioneer in this area,” said Ishaan.
"But I'm only 14 years old, so school and my saxophone lessons remain a priority. Therefore, I can't do my business as much as I want to," he concluded.
