Finnish startup SunBit is using heat generated by roughly 30 Bitcoin mining systems to warm homes and commercial properties through its Bitcoin Boiler equipment. Customers buy and install the systems, pay their electricity bills and receive the Bitcoin generated by mining, while the heat is redirected to their radiators or underfloor heating. One early customer using an Antminer S21+ Hydro reportedly mined around 0.039 BTC over a year, worth approximately $3,200, and cut annual heating oil consumption by roughly 2,000 liters. The model nevertheless depends on Bitcoin’s price, electricity costs and mining difficulty, with profitability requiring a Bitcoin price above approximately $70,000 under the assumptions used. The approach is less efficient than heat pumps, which deliver 2.5 to 3 units of heat per unit of electricity consumed, but it offers a way to capture excess energy from mining operations.
Source: Read the original article
