Daymak – a Canadian electric vehicle manufacturer – is planning a new car that will allegedly mine bitcoin and cryptocurrencies while charging. The vehicle is already set for pre-order and will be available to customers beginning in the year 2023.
Daymak Is Bringing Cars and Crypto Together
The new model will be known as the Avvenire Spiritus and will be able to extract new units of currencies such as bitcoin and Dogecoin, the ever-popular meme currency which has seemingly garnered mass attention in recent weeks and months from the likes of Elon Musk, another electric vehicle mogul. How ironic that one of his biggest competitors is set to step into the crypto mining sector while he has been condemning it.
Musk has been at the center of a lot of criticism lately for seemingly joining the fight against bitcoin and cryptocurrency mining. Initially, Tesla was all set to accept crypto payments for goods and services, though this decision was later rescinded by Musk, who expressed concerns with the mining process. He has since been on a quest to get all major miners in the U.S. and abroad to be more transparent regarding their clean energy usage. He has also formed the Bitcoin Mining Council with Michael Saylor of MicroStrategy fame.
Despite his good intentions, Musk ultimately caused the bitcoin price to experience one of a few major falls over the past several weeks, something that caused a huge stir amongst digital investors.
The new Daymak vehicle will feature a device that executives are calling the Nebula Miner. The company has not yet garnered a patent for this item, and production of the vehicle has yet to begin. Still, the firm has made more than $350 million already through customer pre-orders.
Aldo Baiocchi – president of Daymak – expressed his enthusiasm regarding the future of the company, explaining in a statement:
Whereas most vehicles are depreciating while they sit in your garage, the Nebula Miner will make you money while your Spiritus is parked. Daymak has been a champion for disruptive technologies since its inception, and the current crypto movement is a clear indication that by the 2023 Spiritus release date, we will be in the middle of the blockchain revolution.
Not Everyone Is Happy
Despite his joy and excitement, not everyone is crazy about the idea of a vehicle mining crypto while it sits stationary. Bobby Ong – co-founder of crypto data website Coin Gecko – explained in an interview:
Embedding a bitcoin mining chip into a machine that is supposed to last for several years assumes that bitcoin’s difficulty will not increase over time. Bitcoin’s difficulty will increase over time, making old mining chips inefficient and obsolete.
He also added that the car would require a constant internet connection to mine crypto and that the process would drain electricity from the vehicle.