Categories: NewsTechnology

Using a Tesla S for Cryptocurrency Mining Is Now a Thing

It is always interesting when the worlds of technology and cryptocurrency come together. The Tesla brand has received a lot of praise and attention as of late. In a way, it is not entirely surprising that people would find other use cases for a Tesla-related technology outside of self-driving cars. One Tesla owner is using free power from a local SuperCharger to mine Bitcoin. It is an interesting and quite lucrative venture, to say the least.

Tesla Supercharger and Bitcoin Mining

On paper, it may sound impossible to use one of Tesla’s Supercharger stations to mine Bitcoin. After all, they can’t exactly be hooked up to regular Bitcoin mining hardware or even a power plug. That hasn’t kept one particular Tesla owner from experimenting with this technology, though. This person built a Bitcoin mining rig right into the trunk of the car, which is charged through the Supercharger. All of that energy is used to mine Bitcoin continuously.

While this may sound like a lot of work, it could prove pretty lucrative as well. With the Bitcoin price shooting up this year, it is evident there is widespread interest in mining the world’s leading cryptocurrency. Doing so is often much easier said than done, though, since electricity is not cheap to come by. The Tesla Supercharger effectively changes that equation. All Bitcoins generated through this process are 10% profit, minus the original investment cost of the mining rig itself.

While this is an option worth exploring for all Tesla owners, it is doubtful we will see more people take this approach. It is commendable to see people take advantage of this “electricity loophole” right now, but it is something Tesla will pay attention to in the near future. Whether or not it can come up with a way to prevent such activity remains to be seen, though. Right now, that doesn’t seem plausible whatsoever.

Additionally, there are some concerns over how the electricity itself is generated. In the case of Tesla Superchargers, fossil fuels are the main source of this “unlimited” electricity. There is nothing preventing people from taking full advantage of this grid, though, considering these vehicles are still a niche market first and foremost. Electric cars are far from popular, but they are becoming more common every quarter.

Creative approaches to mining Bitcoin and other cryptocurrencies are always worth exploring. Whether or not one should buy a Tesla and the necessary hardware to mine cryptocurrency and take advantage of a Supercharger is something else entirely. There is an interesting opportunity waiting to be explored in this regard, but it also raises a lot of questions, to say the least. Additionally, there is no real advantage in sacrificing one’s trunk to mine cryptocurrency.

Rest assured we will see additional creative approaches to mining cryptocurrency with free electricity in the future. Renewable energy is definitely the right way to go in this regard, although it usually requires a hefty upfront investment. Mining cryptocurrencies may not always be viable, and there is no reason to make any long-term plans in this regard whatsoever. Setups generate a ton of heat which may damage cars’ internals over time. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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