With the global shortage of semiconductors and microprocessors, many car manufacturers are facing challenges. It is no longer just about engines and wheels, as vehicles have become powerful computing units, often more sophisticated than one might imagine. This is particularly true for Tesla vehicles, whose autonomous driving capabilities and advanced features demand significant computational power. Some innovative thinkers have found a way to take advantage of the Tesla’s battery and computing resources to mine cryptocurrencies—a process that requires enormous amounts of energy. Interestingly, this setup can be used to mine cryptocurrencies at a lower cost, and for some Tesla owners, it has become a surprisingly profitable venture.
The Idea Behind Mining with Tesla
A few clever Tesla owners have transformed their Model 3 cars into mobile Bitcoin mining rigs. With a bit of creativity and technical tinkering, they have utilized the powerful batteries and the car’s computing resources to mine cryptocurrencies like Bitcoin. According to one Tesla owner, Siraj Raval, this operation has proven to be quite lucrative. While he acknowledges the risk of voiding his car’s warranty due to the modifications made to his Tesla, he has claimed to earn up to $800 per month during the most profitable months of his mobile mining venture.
The Setup: How It Works
To get the process going, Raval connected his Apple Mac mini M1 to his Model 3’s dashboard console and added high-performance GPU units used for mining inside the car’s “frunk” (front trunk). The electricity cost is the major factor influencing the profitability of this venture, explains Alejandro de la Torre, another car miner. He adds, “If it’s cheaper to mine via an electric car, why not do it?”
Using Tesla’s Internal Computing Power for Mining
Some Tesla owners have taken it even further, exploiting the car’s internal computing power. Like Raval, YouTuber Allessi shared with an American website that he managed to tweak the Tesla’s firmware, enabling him to mine Monero directly via the car’s central console browser. While some experts argue that using the car’s internal power might not be as efficient, Raval’s basic setup seems to work quite well, and his claims have been deemed credible.
Is the Investment Worth It?
Although the idea of mining cryptocurrencies with a Tesla sounds innovative, the reality of it may not always live up to expectations. Alessi admits that the initial profits were much higher in the early days, but today, he only earns around $1 to $2 per hour—not nearly enough to justify putting a car that expensive through such wear and tear. “Did it work? Yes. Did I mine anything really profitable? No,” Alessi said, reflecting on the diminishing returns from his efforts.
Skepticism Over Monthly Earnings
Not everyone is convinced by Raval’s claims. Thomas Sohmers, another mining enthusiast, expressed doubts about the estimated $800 monthly earnings. According to his calculations, based on the GPU hash rate of the Model 3, a more realistic revenue estimate would be closer to $13.38 per month from Ethereum mining, factoring in the cost of electricity and other expenses.
Despite the skepticism, Siraj Raval stands by his claim, arguing that this Bitcoin mining setup in his Tesla Model 3 is just one aspect of the larger robotaxi business. He envisions a future where self-driving cars, even when idle or not transporting passengers, will be able to generate additional revenue streams.
