Toronto-based personal light electric vehicle (LEV) producer Daymak plans to launch a cryptocurrency-mining car that will allow owners to make money when parked, plugged in, or wireless charging.
The car, known as the Spiritus, is a three-wheeled all-electric vehicle able to seat two adults aimed at being a daily commuter "designed with the track in mind," according to Daymak’s website. The base model Spiritus Deluxe has a top speed of over 85 mph, a 0-to-60 time of 6.9 seconds, and a range of 180 miles. The upgraded sport model Spiritus Ultimate has a top speed of over 130 mph, a 0-to-60 time of 1.8 seconds and a range of 300 miles.
"I think that in the future, we'll see [cryptocurrency] replacing banks and transactions," Aldo Baiocchi, president and founder of Daymak, told Yahoo Finance Live. "So it was just logical [to incorporate crypto mining capabilities] since the car comes with computers on board, and most cars, as you know, they depreciate."
With suggested retail prices of $19,995 and $149,000 for the Deluxe and Ultimate, respectively, deliveries are set to begin in 2023. Buyers can also pre-order the Spiritus Deluxe for $18,495.
As for mining, the Spiritus mines crypto through Daymak Nebula, the world’s first comprehensive cryptocurrency suite for EVs. Currently exclusive to Spiritus orders, the car’s dashboard will allow owners to manage, send, and receive crypto on the go. While parked, plugged in, or wireless charging, the Nebula Miner can mine Bitcoin (BTC-USD), Ethereum (ETH-USD), Doge (DOGE-USD), and more.
The crypto capabilities of the Spiritus could offset its own monthly lease price, Baiocchi said, or owners could simply choose to put the money towards satisfying their daily coffee fix.
"You're using a car one hour a day, more or less. So our car, 23 hours a day, you'll be making money — could be between $5 to $12 [a day] depending obviously on crypto prices," Baiocchi added.
According to Baiocchi, Daymak has sold over 100,000 electric vehicles, mostly electric bikes, mobility scooters, and ATVs. In March, the company unveiled a series of six products (of which the Spiritus is a part) called Daymak Avvenire, which are all set to begin production in 2022. Daymak has received over $900 million in orders between retail and distribution letters of intent, Baiocchi said.
Image -Interior of Daymark's Spiritus — Courtesy of Daymark
'With the crypto technology, a lot of people [still] have no idea today what it can do'
In terms of a longer-term goal horizon, Baiocchi said that Daymak looks to capitalize upon both its patented proprietary Ondata wireless charging as well as its cryptocurrency technologies. Daymak touts Ondata as being "more compact, more efficient, and cheaper than other wireless charging technologies available on the market today."
Baiocchi also said that Daymak aims to become the leader in the three-wheeled EV market, as well as the market for small electric vehicles such as ATVs, mobility scooters, and e-bikes.
"These are all great potential markets," Baiocchi said. "And with the crypto technology, a lot of people [still] have no idea today what it can do."