Not long ago, Live Bitcoin News produced an article about a pair of siblings living in Texas that had created their own successful mining business. Ishaan and Aanya Thakur – 13 (now 14) years of age and nine years of age, respectively – had studied mining videos on YouTube and converted old equipment to extract Ethereum and other forms of crypto from the blockchain.
Texas Siblings Take Their Love of Crypto to the Furthest Reaches
Now, these siblings are looking to take their knowledge of crypto mining to a whole new level. They want to make their own cryptocurrency.
In a recent statement, the kids say they are looking to release their own unique asset by the end of the year. Known as Flifer Coin, the siblings say they have hired programmers to assist them in their new venture. Ishaan said in an interview:
We wanted to make a difference because we were mining other coins like bitcoin and Ethereum. We wanted to make our own cryptocurrency because other people were making it and thought we could do so, too.
At the time of writing, the pair allegedly earns as much as $35,000 a month by mining bitcoin, Ethereum and Ravencoin. They also say they feel more people need to learn about cryptocurrency, which is the main reason for starting this business at such early ages.
I am proud of what I am doing because I spent the whole summer learning how to mine cryptocurrencies instead of playing games.
The siblings first got into cryptocurrency last February. Their father – Manish Raj – is a former Wall Street banker who came home one day and told his children about the growing world of altcoins. Immediately intrigued, both kids began researching all they could about mining digital currencies. They then took their interest to a new level and began converting old gaming computers into crypto mining machines.
Initially, things started out slow. They only made three dollars on their first day of mining, though this didn’t deter them from trying harder in the future. They kept going and eventually made as much as $74,000, which has since been placed back in the business (known as Flifer Technology).
We reinvest whatever we make from mining back into the business, so we make more money.
Volatility May Be an Issue
While things are going well at this time, the siblings worry that the valuation of cryptocurrencies will rise and fall, which could potentially wreak havoc on their business. Ishaan says:
Sometimes, we worry that the value of popular cryptocurrencies may rise and fall, but it’s not that big a deal for us because we haven’t put in as much money as other people. We have only spent money to buy equipment to mine for cryptocurrencies. If we had purchased cryptos instead of mining them, we would stand to lose more money because of the volatility.