Fourteen-year-old Ishaan Thakur, and his nine-year-old sister Aanya, are drawing $32,000 a month from their Ethereum (CRYPTO: ETH) mining business.
What Happened: According to a report from Fortune, the Dallas-based brother-sister duo converted an old gaming computer into an Ethereum miner with some guidance from their father and Youtube.
After making $1000 in their first month of business, the team reinvested some of their earnings into additional mining equipment and even regular supply updates for graphics cards to combat the summer’s shortage of mining chips.
Fortune reported that the Thankurs’ business, called Flifer Technologies, currently has 94 processors mining Ethereum.
The expansion has seen the business move some of its operations into a full-fledged air-conditioned data center in downtown Dallas, while 30 mining rigs are still housed in the family’s garage.
Electricity costs between the two locations reportedly amounts to $2,500 a month, and the brother-sister team has sold some Ethereum to cover these expenses, along with hardware costs and the rent for the data center.
Like most Ethereum miners, however, the Thakurs are holding on to the majority of the cryptocurrency earned from their mining operations in anticipation of its price appreciating in the future.
Price Action: At press time, Ethereum was trading at $3,903 gaining over 21% in the past 7 days. The second-largest cryptocurrency by market cap has seen its value increase by over 800% since September 2020.