Some of the most innovative Tesla owners have used their electric vehicles to mine cryptocurrency or privacy tokens such as Monero. According to them the most lucrative method to mine crypto using the help of a Tesla is to employ hacking the firmware and connecting graphic processing devices directly into the motor. A Tesla Model 3 owner reveals that this is how could earn an average of $800 per month in Ethereum at a time when the cryptocurrency was trading at a record high.
Teslas, or any other fully electric vehicle, in fact are basically a huge computer that can be driven by some Model 3 owner, and thought he could make use of the electric vehicle to mine crypto. Siraj Raval used every trick from the book on mining that includes linking video devices to the battery of Tesla through connecting the Apple Mac mini M1 to the 12V plug.
He claims that it was possible to earn an average of $800/month during the boom in Ethereum’s price by using this method. According to him the most efficient method to mine crypto using the help of a Tesla car is by using “a mix of hacking into Tesla’s internal computer, plus plugging GPUs directly into the car’s electric motor.”
A different Tesla owners, Chris Allessi, has taken it even further. Since he bought his Tesla prior to January 1, 2017 which is when he was entitled to lifetime fast charging for the electric vehicle and has utilized the power of the car’s battery to search for Bitcoin using the Bitmain Antminer S9 directly. In addition, he’s attempted hacking the Tesla’s firmware, and mining using the car’s display and browser, by setting up an online portal that allows him to mine to find monero.
Monero private token. “It was no big deal,” says Alessi Wisconsin’s the first dealer in electric cars and enthusiast of tinkering – “I could run the mining program within the browser.”
What was the amount he made by using his Tesla? A 10 dollars worth of bitcoins for 60 hours since Tesla’s GPU has a very low 10 % MH/s havehrate. Siraj Raval fared better, because he purchases the used GPUs on eBay, works for 20 hours per day and then stakes the cryptocurrency with an exchange which gives an excellent rate of interest.
Siraj was able to earn 400-800 dollars per month by mining for cryptocurrency using the Tesla Model 3 last year. But, as per Alessi. Alessi, this whole Tesla Bitcoin mining exercise is an experiment in proof of concept and will not be worth the effort over the long haul:
“Why should you put that amount of wear and wear and tear on a $40,000 to $100,000 vehicle? Was it a success? Yes. Did it extract anything worthless in order to make money regardless of form or manner? No.”