'Tesla Vehicles' Energy Eyed to Mine Cryptos'
Bitcoin Mining in Electric Vehicles Raises Other Questions
November 24, 2017 Jennifer Sensiba
Some creative Tesla owners came up with a way to make a few bucks from their
parked EVs: Cryptocurrency mining. This raises questions that shouldn’t just
be aimed at bitcoin mining, or even electric vehicles.
For those unfamiliar, cryptocurrencies only work because there is a network
of distributed computing that processes the transactions. To reward those
offering the computing power, cryptocurrencies give fractions of new
bitcoins to those who did the work of running the network. This is referred
to as “mining” bitcoins and other cryptocurrencies. This was an expensive
and power-hungry task that could wear out computer components much faster
Initially, many doing this used high-end graphics processing units, but as
the money earned per device diminished, miners turned to specialized
computer units, called ASICs, to do the task faster with less electricity.
But the units are still not free and they still can use kilowatts of
electricity for a handful of them. To reduce the overall cost of running
mining computers, some miners put the computers throughout their homes to
act as small space heaters and reduce their heating bill. Others run their
rigs on solar panels to avoid a monthly power cost.
Any source of electricity you don’t have to pay the normal rate for, or that
you don’t have to pay for at all, is an opportunity for miners to increase
their already thin profits. Teslas and other EVs have free access to power
at many charging stations, so it was probably only a matter of time until
somebody decided to plug their mining computers in.
One member of the Tesla Owners Worldwide on Facebook suggested the idea,
possibly in jest. Then another owner went ahead and did it, posting a photo
of his setup. Some members suggested that his setup could pull as much as 3
kilowatts of power and would probably require the vehicle’s air conditioning
to be on for cooling. Other members raised ethical questions. Is it stealing
to use the power for something other than driving?
On the one hand, this could be a good way to offset the cost of owning an
electric vehicle. On the other hand, it lowers the efficiency of the vehicle
and increases the environmental impact. But then again, the mining was going
to be done somewhere anyway, so does it really? Will many EV owners do this?
Will they do it at places they were going to charge anyway, or will there be
opportunistic fleets of EVs blocking up charging stations to make a quick
buck? How will charging station owners respond?
But really, these questions shouldn’t just be aimed at bitcoin mining.
Computing power is going to be in higher and higher demand going forward.
Self-driving cars are already running on graphics processing units like
bitcoin miners once all used. Infotainment systems are getting more and more
powerful, and that power needs to come from somewhere. Mobile devices used
by passengers are going to need more and more power to charge. Even beyond
that, there are “V2H” systems that can run a house on an electric vehicle’s
battery, and that goes far beyond the tiny bit of power needed to run a few
And these questions shouldn’t just be applied to electric vehicles. Many of
these power strains will apply to hybrid, regular gas and regular diesel
vehicles. Alternators, the parts that charge most car’s 12v batteries, are
already a big part of the car’s fuel consumption. Ecomodding hobbyists have
gained as much as 15% fuel efficiency by removing them, and that amount is
only going to grow as more demand is placed on it. Some companies are
suggesting waste heat recovery to generate the electricity needed for the
When we look at these wider power issues, it becomes clear that bitcoin
mining is just a drop in the bucket. Even if a large number of EV owners did
it, it would still be nothing compared to the other computing future cars
will eventually be doing. Where that power is going to come from is a good
question we shouldn’t just be aiming at the odd bitcoin miner.
Tesla Owners Are Stealing Power To Mine Bitcoin
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Application-specific integrated circuit chips (ASICs) are bitcoin mining
hardware created solely to solve Bitcoin blocks. They have only minimal
requirements for other normal computer applications. Consequently, ASIC
Bitcoin mining systems can solve Bitcoin blocks much quicker and use less
less electricity or power than ...
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you have cheap electricity, an efficient bitcoin mining machine and get the
best Bitcoin mining hardware. It's important to remember that Bitcoin mining
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