Heat your home while mining BTC \ stacker news ~bitcoin

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932 sats \ 9 comments \ @SatoshiNakanodo 30 Oct 2022 bitcoin freebie

Anyone have any thoughts on this HeatBit Bitcoin miner / space heater? Is this a good option? Are there other alternatives to consider?

https://www.heatbit.com/

Promo video: https://youtu.be/mxQ3mY3JeMY

Review: https://youtu.be/j71ycd0leFo

Even if it doesn’t earn a lot, I’d love to contribute hash power to the network, but I’m not technically savvy enough to set up and run an ASIC out of my house.

Also, I live in the northeast U.S. where winter is practically 6 months long, so I’m in the market for a space heater anyway.

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21 sats \ 3 replies \ @Brunswick 30 Oct 2022

It won't pay for itself. 14TH/s 1400W $0.15/KWH costs $5/day to run and you get $1/day of bitcoin. You'd need to run it for 1100 days 24 hours a day just to pay for it and you can pick up a much quieter ceramic heater that you could run only occasionally for under $50. Its more likely to get jammed in a closet because of it failing to work or for its noise before you get that many hours out of it. Not to mention that 14TH will likely be uncompetitive before that 1100 days of use rolls by. I like the idea but the efficiency has to be allot higher to make it economical.

376 sats \ 1 reply \ @brxyz 30 Oct 2022 freebie

Yeah, I'd like to see someone compare this against more traditional (and cheaper) heaters comparing both TCO and energy efficiency before I drop over a grand on a space heater.

10 sats \ 0 replies \ @BTCMiner 30 Oct 2022

This 1,400W bitcoin mining device provides essentially the identical energy efficiency of a 1,400W $30 space heater.

So if you would run a 1,400W space heater 24/7 for five months each winter, and would use this ASIC instead, your TCO over five years is ... impossible to calculate because there's no way to know the future bitcoin exchange rate and the future bitcoin difficulty.

But for the first year is (assuming today's price and difficulty):

TCO after one year:

Heatbit: $1,149, plus $69 shipping, minus $150 (revenue earned this winter), plus $150 for electricity for the winter, or $1,218.
Cheap space heater: $30, plus $150 for electricity for the winter, or $180.

Let's say in the second year this ASIC earns you $50.

Heatbit: $1,149, plus $69 shipping, minus $200 (revenue earned the two winters), plus $300 for electricity for two winters, or $1,318. Cheap space heater: $30, plus $300 for electricity for the two winters, or $330.

etc. for years three and on, where the difficulty increases and thus bitcoin revenue from this device decreases as a result.

And that assumes you truly run the device 24/7 for the five winter months. Space heaters are oftentimes used only to supplement heat in a living area (i.e., run much less often than 24/7).

0 sats \ 0 replies \ @selfish_gene 30 Oct 2022

??? для обогрева помещения окупаемость не важная вещь... смотри на плату по счётчику... и все плати из кормана... а он будет часть брать из блок чейн... а это выгоднее чем просто жечь огонь в пустую... биткоин решает уже 2 проблемы одним выстрелом... один выстрел два зайца

10 sats \ 1 reply \ @BTCMiner 30 Oct 2022

I’d love to contribute hash power to the network

This device has essentially the same specs as an Antminer S9 from 2017 (i.e., 1,400W for 14 TH/s).

If all bitcoin mining was done with this, it would take nearly 20,000,000 of them to equate to today's roughly 270 EH/s. So you spending $1,149 + $69 shipping on this would be contributing 1/20,000,000th (or 0.000005%) of the global hashrate, today.

But you buying this likely won't be adding to the total hash power of the bitcoin mining network. You will likely instead be displacing some marginal miner who is determining whether or not to exit based on the difficulty.

If you instead put that $1,149 + $69 shipping buying bitcoin instead, that will actually help the cause working towards where that marginal miner might be able to remain mining.

Anyway, here's the main concern I have as well. There's a reason an S9 is loud. Those fans have to evacuate the heat produced from consuming 1,400W. How is this device evacuating that heat without the high volume (loud) fans? By using an enormous sound-dampening housing.

https://i.postimg.cc/MGWjb4NF/image.webp

Image source: https://www.yahoo.com/now/heatbit-releases-first-bitcoin-miner-181000283.html

Here's a Tweet that kicks off a Twitter thread that helps explain further issues:

I can’t recommend it off this.

Don’t spend $1200 on an Antminer S9 with a housing — I can sell you an asic that earns 5x more BTC + is more efficient for about the same price.

Unless you’re not capable of doing ANY tinkering/DIY tasks.

To each their own…but I wouldnt.

https://i.postimg.cc/VvwmQQwq/image.jpg

https://twitter.com/denverbitcoin/status/1584421706810417152 [Nitter]

0 sats \ 0 replies \ @BTCMiner 5 Dec 2022

It may be possible to instead use a cheap ASIC rig, but use fans that can reduce fan speeds, and then customize the power outputs to make it silent (or nearly so).

It's just a concept but how can you not love it 🥰

https://i.postimg.cc/L6cYQz5W/image.jpg

https://twitter.com/CryptoCloaks/status/1599076294708584448 [Nitter]

0 sats \ 0 replies \ @takaponka 30 Oct 2022

https://fr.wisemining.io/

Check out this one, it looks nice.

0 sats \ 0 replies \ @bitdov 30 Oct 2022

Great idea, just needs to be cheaper in order to be economical. As of now, rather pay for a cheap heating device and buy bitcoin with the rest

0 sats \ 0 replies \ @selfish_gene 30 Oct 2022

просто начни... просто изучи сам... будет много ошибок но ты справишься...