What If I told you there was still a way in this world to get free Ethereum yes FR double EE Free. It’s a loophole, but that hole is still out there to this day. So let’s tie or loop and wrangle it in cowboys and cowgirls because of its time for Chico Crypto! The cowboy yeehaw and this weekend’s live stream which detailed Elon musk moving to texas gave a real big hint into Today’s article.
This loophole to get free Ethereum ties right into Elon Musk, Tesla& the Tesla supercharging network. So just spit it out Tyler, what are you talking about!? Well, it is possible to convert your Tesla, and its battery into an Ethereum mining machine. And this car hack actually already made its way through the media cycle back in 2017.
Did Vice cover it in their article Can You MineCryptocurrency With a Tesla? A Feasibility Study And that feasibility study, found yes its possible and some people were claiming to be doing it out of the trunks of their Teslas.
And here’s the kicker, the article states Now at least one Tesla owner is getting a piece of the action by installing mining rigs in their trunk to take advantage of the free electricity provided to some Tesla owners or so it seems.
Yes, Tesla really needed an incentive for people to buy their cars, back in the day so for the first few years of the Models and Model X programs, unlimited free Supercharging was one of the top perks that Tesla offered to its customers.
Supercharging what is that? Well, I’m sure you’ve seen a station around a city or two it’s there countrywide networks that allow owners to charge their cars extremely fast, from 0 to full charge about an hour. So early Tesla customers, they have lifetime free unlimited charging of their vehicles through these charging networks.
They can fill up their battery for Free whenever and however much they like. Elon Musk obviously knew the perk wasn’t sustainable and he even admitted that they should have ended the incentive earlier saying this in 2017. Sorry, its not really sustainable at volume production and doesn’t incentivize optimal behaviour.
We probably should have ended this earlier So what cars still qualify? Well, it has to be patella, ordered before 1/15/2017 and received by March 2017 that is the cutoff for the unlimited lifetime charging.
So if you are looking for one of these, and it’s before that date range there is another kicker it has to be transferable, the lifetime charging what does that mean? Well if Tesla buys it back, to sell used they take away this perk.
You have to buy it from a private party, a person no third party dealers the perk is disqualified from what I have read if it goes through a dealer down the line so you have to make sure it has this perk for one and its transferrable In 2018, Elon did bring back this unlimited perk to the vehicles for a short amount of time too, a small window but it was brought back, then once again in August of 2019 for the model sand it, but then removed it again in May of 2020.
So there are windows of free unlimited supercharging, you just have to make sure it has it, and it’s transferable, not bought through a dealer, or ever went through the third-party pipeline.
Now, I am not recommending this whatsoever it will probably void your warranties, you could possibly blow up your vehicle & battery. So don’t do it! This is just a feasibility look, into possibilities that are out there. So how much could you freaking make, using your Tesla to mine Ethereum if that was all it was being used for? And Id likes to thank Vice’s article for some of this data, it made it easy on me.
Now. were looking for the most profitable, efficient, and readily available mining machines on the market machines. That is the into silicon a10 pro. The specs of it,750 watts and a beast of power compared with GPUs 500 mega hashes per second. So let’s fit 4 of these bad boys, for a total of 3000 watts and 2000 mega hashes per second.
Now turning that 3000 watts into kilowatt-hours, if it was running 24 hours. We get72 Kilowatt-hours to power the 4 a10’s all day. As we can see from Wikipedia, Teslas battery packs range from 60kilowatt hours to 100, so it’s feasible to power this all day from just one fill-up from the free supercharging station.
But the strain on your battery would be big! Teslas get an average of 3 miles per kilowatt-hour out of their battery. You take the 72-kilowatt hours from mining and multiplied it by 3, that is equivalent to your Tesla 216miles per day, or over 1500 miles per week.
Would that be worth it? The big question is how much could you make with 4 a10s running all day? Well, minerstat.com has a nice calculator tool. Lets put in the 2000 mega hashes, 3000 watts of power, not paying a pool fee, and the electricity cost is a big ole goose egg zero and as we can see, that’s profits of over 76 dollars a day, over 532 per week, and $2281 for the month.
Not freaking bad whatsoever as whatsoever 27 thousand dollars for the year if all things stay the same, including hash rate and Ethereums price.
If Ethereum goes up you will be in the profit in USD terms even more. But costs as we can from it’s possible to get an a10 pre, but the cheapest you’re paying is around $4500 bucks. So 4 of those is going to cost you $18 grand.
A large upfront cost but, also you gotta remember, you have to find a tesla which has unlimited supercharging, and it is transferable a tough find, meaning no third party dealer, no used from Tesla. Meaning no payment plan and another large upfront cost.
Not terrible though as if you go to KelleyBluebook and the trade-in a range for a good condition 2012 Tesla Model S, with 150 thousand miles is on average, just 12 thousand bucks. Total investment mining machines plus the tesla are about $30k, and profit if all things stay the same after one year is over 27 grand that means this could pay itself off and break-even in just over a year.
Now, with this example, it better pay itself off, because the mining machines we were using in the example, were specialized for the Ethereum proof of work Ethhash algorithm. We all know Ethereum is switching to proof of stake and those machines might not be as profitable once the full switch happens. Estimates between 1 to 2 years.
But you don’t just have to mineEthereum. You could eventually sell those machines pre switch and then use the Tesla to mine bitcoin, dogecoin, monero, any proof of work algorithm, the battery could be converted and used to mine cryptocurrencies. I just showed Ethereum as it is the most profitable right now but you could also keep the machines, and mine Ethereum Classic, as it’s sticking with the ETHhash algo.
Now sticking in the stats of the Tesla Ethereum mining machine look at the profitability with Ethereum classic today not bad, less than Ethereum, just over 1200per month but that’s still over 15thousand per year. Your Tesla could still be profitable, post Ethereum proof of work switch.
But like I mentioned this is just theory, is it feasible, and what would the results look like based on the figures. But Elon, if you read this article, don’t be mad I showed a loophole to mine crypto for free but embrace this loophole and use it in your own business.
I’m not saying open up free unlimited charging everyone and put miners indirectly in every freaking Tesla that is definitely unsustainable, but for the customers who create their own power, and store it with your full-cycle systems, panels, batteries and all wouldn’t it make sense to give them the freedom to do with this saved power as they please? Wouldn’t it be awesome, if proof of work crypto networks were secured sustainably, by people using renewable energy.
Instead of securing them with environmentally consequential energy Tesla, with their distributed full cycles systems is the only global business in a position to do this on a large enough scale even for Bitcoin.
And BTC is sticking with proof of work whileTesla and their sustainable goals aren’t going anywhere. So your vehicle a crypto-miner today yes! Your home a crypto-miner in the future? It’s possible. Cheers, I’ll see you next time.