Can You Earn Passive Income With Your Tesla?

In recent times we have seen an impressive increase in sales of Tesla electric vehicles. According to reports, the company sold 936,000 vehicles in 2021 alone. This is an estimated 87% higher than sales recorded in 2020.

It is also no hidden fact that the Tesla cars are quite expensive. With the Tesla Model S starting at $96,440. Interestingly, some Tesla owners have found a way to make extra income. Some owners of electric vehicles now mine crypto with electricity stored in the car’s batteries.

Owning a Tesla Might Actually Be Profitable

According to a recent CNBC report, owning a Tesla might be a good way to earn passive income. The report further disclosed that some owners of electric vehicles now earn extra income every month from their mining operations. One Tesla owner, Siraj Raval, allegedly makes $800 every month from mining crypto with his electric vehicle. Interestingly, Raval owns a 2018 Tesla Model 3.

According to him, he mines using his Apple Mac mining M1 by connecting his computer to an inverter. The inverter is also connected to a 12-volt power socket found on the EV car’s console. This power socket serves as the main source of power for his entire crypto mining operations. The report also disclosed that Raval also connects interconnected GPUs to the front trunk or ‘Frunk’ of his electric vehicles. All of which also operate using power from the car’s batteries. Therefore eliminating all forms of costs related to his crypto mining activities.

There is, however, a downside to this as mining crypto using Tesla vehicles “put the owner at risk of voiding the car’s warranty.”

A second Tesla owner, Chris Allessi further confirmed the possibility of mining crypto with your electric vehicle. Allessi disclosed that he uses a method quite similar to Raval but for a much longer period.

Further disclosing that he started out crypto mining using his Tesla in 2018 by mining BTC. Adding that at that time made an estimated $10 every 60 hours. This was also only possible because his vehicle at that time had unlimited supercharging. Adding that it was no longer profitable for him to mine crypto using his vehicle.

More On Tesla EV

Tesla is currently the most popular and foremost EV company in the world today. Its CEO Elon Musk is also a huge supporter of the crypto space. And has been attributed to being the reason behind the huge price rally of Dogecoin last year. The EV company also accepted payments in Bitcoin for a while.

According to reports, the major issue facing crypto mining using a Tesla is that it might void the car’s warranty. According to bitcoin miner, Alejandro de la Torre, If it’s cheaper to mine crypto using an electric vehicle, “[…] then so be it.”

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