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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
- The miner might actually be profitable
- You would probably want to crank up the water temperature, since there are good reasons to have hotter water, especially in the winter.
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 wonder if switching from a natural gas heater would be worth it