You wouldn’t cover the cost of the miners if you had to shut turn them off and on like that. The worth of their hashing capabilities is nearly always declining as more and better miners come online.
But using the miners to do something else was always an interesting idea, like using them to heat a building. Maybe you could heat a swimming pool with them.
For home usage my thought would be use it as a hot water heater or a dryer for clothes or maybe even make a switchable 500 watt and 1500 watt version and use it as a space heater for those cold winter nights.
Ya, if you have a miner at home, it will reduce your heating bill. You just gotta find a good use for it when it’s not cold outside, so something like supplementing your water heater as you mentioned would work ya.
I think there’s merit in the idea. Someone makes an electric water heater purpose built for this and they build a miner card you can swap in/out as technology improves the the current one becomes obsolete. Uses the miner for primary heat, and when it’s not enough uses regular electricity to make the heat.
See, that would be awesome as hell, because those appliances need heat. And so, mining with it basically subsidizes the heat that I would otherwise just be using anyway. It may not subsidize it completely, but any subsidy is better than no subsidy at all.
Just saw this today and thought you might find it interesting given our discussion
The city of Vancouver passed a motion to look into the city holding some Bitcoin as a financial reserve, and in the article I saw this mentioned
“But there are green efforts afoot in the bitcoin mining sector, and I think we could definitely look at those and how they might benefit paying for things like heating city pools and other sorts of services.”
It would be pretty cool if the city was heating a pool with it and then paying off their bills with the mined coins.
Anything where heat is needed is a good potential for a Bitcoin mine, just because heat is a waste byproduct of a Bitcoin mine, but that heat can be used for something else.
You wouldn’t cover the cost of the miners if you had to shut turn them off and on like that. The worth of their hashing capabilities is nearly always declining as more and better miners come online.
But using the miners to do something else was always an interesting idea, like using them to heat a building. Maybe you could heat a swimming pool with them.
For home usage my thought would be use it as a hot water heater or a dryer for clothes or maybe even make a switchable 500 watt and 1500 watt version and use it as a space heater for those cold winter nights.
Ya, if you have a miner at home, it will reduce your heating bill. You just gotta find a good use for it when it’s not cold outside, so something like supplementing your water heater as you mentioned would work ya.
I think there’s merit in the idea. Someone makes an electric water heater purpose built for this and they build a miner card you can swap in/out as technology improves the the current one becomes obsolete. Uses the miner for primary heat, and when it’s not enough uses regular electricity to make the heat.
See, that would be awesome as hell, because those appliances need heat. And so, mining with it basically subsidizes the heat that I would otherwise just be using anyway. It may not subsidize it completely, but any subsidy is better than no subsidy at all.
Just saw this today and thought you might find it interesting given our discussion
The city of Vancouver passed a motion to look into the city holding some Bitcoin as a financial reserve, and in the article I saw this mentioned
“But there are green efforts afoot in the bitcoin mining sector, and I think we could definitely look at those and how they might benefit paying for things like heating city pools and other sorts of services.”
It would be pretty cool if the city was heating a pool with it and then paying off their bills with the mined coins.
https://www.cbc.ca/news/canada/british-columbia/vancouver-mayor-ken-sim-bitcoin-reserve-1.7408208
Anything where heat is needed is a good potential for a Bitcoin mine, just because heat is a waste byproduct of a Bitcoin mine, but that heat can be used for something else.