Young Siblings Earn R420k Monthly After Starting Crypto Company During School Holidays
- Two siblings aged 14 and nine started a lucrative business mining cryptocurrency during school holidays
- Ishaan Thakur and Aanya said they made R40 on the first day and over R13k in the first month
- Their father said the siblings expect to make around R550k in September
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Two siblings have built a successful company during school holidays which earns them R420k million monthly.
Source: UGC
14-Year-old Ishaan Thakur and his nine-year-old sister Aanya from the US used the holiday to build a lucrative business mining cryptocurrency. In an interview with CNBC's Make It segment, Ishaan said they started their company out of curiosity and to make money.
Starting small
The siblings first had to learn how to mine cryptocurrency, which is not a walk in the park.
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“Crypto mining is just like mining for gold or diamonds. Instead of using shovels, you mine with computers," said Ishaan.
After watching numerous YouTube tutorials and researching on the internet, they embarked on their business. Ishaan said that on their first day, he made around R40 and by the first month, they had made over R13k.
Expensive venture
According to the siblings, their parents have been supportive and their dad even took a loan to help them acquire expensive equipment used in mining cryptocurrency.
However, mining cryptocurrency also consumes a lot of energy and requires a lot of computer power. The family said their monthly electricity bill is around R42k. Their father, Manish Raj, said that the kids expect to make around R510k in September as they bought new equipment.
College dream
The siblings plan on using the profits to reinvest in their business and pay their college fees. Both Aanya and Ishaan want to study medicine and become doctors. As the holiday ends, they hope to continue growing their business and balancing it with school.
Homeless to millionaire
In other news from Briefly News, a man who was homeless at 17 changed his fortunes by building a R8.3 million company by the time he was 23. Harry Sanders from Australia was rendered homeless after his parents divorced.
He lived in the streets for a year while working on his company, and his hard work paid off.
Source: Briefly News
