Introduction:
Bitcoin mining strategically positions itself where it maximizes profitability across various parameters. Construction projects globally are always in progress, also in harsh conditions. My initial informations to mining in such environments came from a company called 21energy. However, I believe this topic is significantly underestimated and wanted to put it on the table here.
Importance of Heating on Construction Sites:
- Comfortable Working Environment: Heating is necessary to create a comfortable environment for workers.
- Temperature-Specific Processes: Certain construction processes require specific temperatures to occur efficiently.
- Process Acceleration: Heating can fasten up these temperature-dependent processes.
- Seasonal Considerations: Heating is essential in winter or to stabilize daily temperature fluctuations.
Processes Requiring Specific Temperatures:
- Concrete Curing: Concrete curing typically requires temperatures above freezing (0°C or 32°F) and is optimal between 10°C to 30°C (50°F to 86°F).
- Painting and Coating Applications: Application and curing temperatures for paints and coatings vary from 10°C to 35°C (50°F to 95°F).
- Flooring Installations: Epoxy or polyurethane flooring installations necessitate temperatures between 15°C to 25°C (59°F to 77°F).
- Roofing Installations: Roofing materials often require temperatures between 10°C to 35°C (50°F to 95°F) for proper installation.
- Plumbing Installation: Certain plumbing materials, like PVC pipes, require temperatures above 0°C (32°F) for joint fusion.
- Curing of Adhesives and Sealants: Adhesives and sealants require temperatures between 10°C to 30°C (50°F to 86°F) for proper curing and adhesion.
Comparison of Heating with Bitcoin Mining:
Heizzentrale 70KW:
Antminer S21:
| Aspect | Heizzentrale 70KW | 20 x Antminer S21 |
|---|---|---|
| Initial Price | approx. 30000 € | 80000 € + X |
| Power Consumption | 1 x 70 KW | 20 x 3.5 KW |
| Consumption at Max Power | 7.5 l/h | 20 x 3.5 KW/h |
| Basis Cost of Input Energy | 1.07 €/l (Oil) | 0.3 €/KW |
| Basis Cost for Input Energy/hour | 8.025 € | 21.00 € |
| Basis Cost for Input Energy/day | 192.60 € | 504.00 € |
| Income per day | 0.00 € | 408.80 € |
| Cost per day | 192.60 € | 95.20 € |
Negative Aspects of Mining for Heating Energy:
- Reduced temperature gradient between atmosphere and heating, complicating temperature control.
- Higher initial costs for mining equipment (approximately 100k for ASICs) and additional surrounding devices (5-15k).
- Increased noise levels compared to traditional heating methods.
- Daily costs are dependent on hash rate and BTC price, not on oil prices.
- Greater space requirements and fewer packaging concepts available in the market.
- Lower utilization time due to maintenance requirements.
- You still need electricity for the ASIC´s
Key Takeaways for Comparison:
- There are additional use cases like event or emergency heaters
- They have oil-heating solutions up to 2500 KW on the market
- Numerous companies in Europe and globally offer similar services
- Lack of substantial developments in this area in regards to mining
- In the end of writing this post, I found on the website of 21energy this wonderful device. With the parameters given, we have 360 TH with up to 9 KW power for around 20,000 €. In my opinion, prices could fall significantly when there is a higher demand for these devices and they leave the prototyping stage (which seems still to be the case for me).
Future Questions:
- What is the potential for generating KW/h through this process in Europe and worldwide?
- Will this market see significant growth soon?
References:
- Electricity costs in Germany
- Oil price costs in Germany
- Examples of companies providing heating solutions for construction sites in DACH: 1, 2, 3, 4, 5, 6
- Antminer S21 calculations
- 21energy - Edge