I think on the website it estimates that the water heater would offset 80% of the electricity costs. That would be pretty great even if Bitcoin's price didn't appreciate much.
I still haven't replaced mine even though that was part of the reason I sold some gold and silver. I reached out to them to find out more. Hopefully they ship to Canada and if they do it doesn't cost almost as much as the water heater. Haha
I always find these use cases interesting. Tried to make the ROI work for a heat bit, but couldn’t get it positive unless it would have mines a block reward, lol
They’ve done a great job with the comparisons to an ”average” electric water heater. It uses roughly the same amount of energy and has the same heating efficiency as the average unit. While it may cost a little more upfront, the annual revenue will more than pay for the cost of the unit over its 10 year lifespan (offsetting some energy costs as well).
Hehehe, doing something in reverse. I plan to use my ASICs' heat to provide heat to my heat pump water heater, and reduce my electrical charge cost as a result. Basically, more utility savings in cost avoidance via ASICs I would already be using.
I wonder if switching from a natural gas heater would be worth it
I guess it depends on your electricity rates. In my experience nat gas heaters are better.
If we assume the miner only makes up the difference in equipment costs, yeah, natural gas heaters still win.
There are two considerations that come to mind
I think on the website it estimates that the water heater would offset 80% of the electricity costs. That would be pretty great even if Bitcoin's price didn't appreciate much.
I'm sure I'll want to do this whenever we're looking for a new water heater, just because it's so cool.
I still haven't replaced mine even though that was part of the reason I sold some gold and silver. I reached out to them to find out more. Hopefully they ship to Canada and if they do it doesn't cost almost as much as the water heater. Haha
In New York they banned natural gas appliances!
Of course they did
I always find these use cases interesting. Tried to make the ROI work for a heat bit, but couldn’t get it positive unless it would have mines a block reward, lol
They’ve done a great job with the comparisons to an ”average” electric water heater. It uses roughly the same amount of energy and has the same heating efficiency as the average unit. While it may cost a little more upfront, the annual revenue will more than pay for the cost of the unit over its 10 year lifespan (offsetting some energy costs as well).
I gotta replace my water heater soon wonder if this would work at my place
Wild but clever you were already paying to heat water now it quietly stacks sats while it does the same job.
Exactly
Hehehe, doing something in reverse. I plan to use my ASICs' heat to provide heat to my heat pump water heater, and reduce my electrical charge cost as a result. Basically, more utility savings in cost avoidance via ASICs I would already be using.
Very nice. Hope it works well for you.
https://twiiit.com/BitcoinNewsCom/status/2009597783653978202