- Siraj Rafal told CNBC that his Tesla Model 3 has been mining Bitcoin and Ethereum for about 20 hours a day.
- He described his car as a “computer with wheels” and said he was earning between $400 and $800 a month.
- But an electric car dealer told CNBC that mining cryptocurrency with a Tesla battery isn’t worth it.
The owner of a 2018 Tesla Model 3 told CNBC that he earns up to $800 a month by using his car to mine cryptocurrency.
Siraj Rafal, who described his car as a “computer with wheels,” said he plugged the inverter into a power socket in his car and used it to power a computer on which he was running bitcoin mining software.
He said he earns between $400 and $800 a month, depending on the value of Bitcoin and Ethereum. Although it may void his Tesla car warranty, which covers the battery for up to eight years, he thinks it will be worth it.
“This computer car is easy to hack,” he said.
He said he also used the car’s battery to power the interconnected GPUs, which mine cryptocurrency.
Raval said he spends roughly 20 hours a day mining with his Tesla battery. He said he spends between $30 and $60 a month to charge his car battery.
But Wisconsin electric car dealer Chris Alessi told CNBC that using a Tesla car to mine crypto isn’t worth it.
Since he bought his Tesla before 2017, Allessi has access to the company’s free lifetime express charging program, which means he doesn’t have to pay to charge his battery. He said he used this free power to mine cryptocurrency but gave up because it wasn’t profitable enough.
“Did it work? Yes,” Alessi told CNBC, speaking of his experience mining Monero. “And despite the rise in bitcoin’s value, Alessi estimated that the increasing difficulty of mining means that if he mined it now, he would get roughly a dollar or two out of it. Cryptocurrency within 60 hours.
“Why would you want to put this kind of wear and tear on a car that’s anywhere from $40,000 to $100,000?” he added.
“The difficulty is very big … I can make more money working at McDonald’s,” he said.
Tesla hacker and crypto miner Thomas Summers told CNBC he was skeptical of Rafal’s claim, saying he didn’t think it would be possible to make much profit by mining with his car.
But Rafal said he has no plans to stop crypto-mining using Tesla. He said that in the future he wants to make his fully autonomous robotaxe do mining when he’s not on the road.