Vineet Budki is a miner who has just bought a $1 million villa in Dubai. He does not toil underground with a hard hat and a pickaxe, but is at the 21st-century coalface: cryptocurrency mining.
Until 2017 the 40-year-old Indian-born entrepreneur ran a travel company. Then one of his clients started making crazy requests: limousines for 20 people, helicopters, private jets. Budki asked himself: “Who does that? Who splashes money like this? Turns out he was one of India’s biggest miners and introduced me to the world of crypto.”
Budki has been so successful at mining that he has used the virtual currency to buy bricks and mortar. This is still highly unusual because traditional mortgage lenders have a hard time establishing where the money