Mining Roundup: Rigs for Home Heating and a Bitcoin Backbone
What's happening in the world of mining? As recent coverage suggests, the network is beginning to see a steadily rising hashrate as mines around the world get started and begin generating bitcoins. It's not just the big companies - small operations using state-of-the-art chips in super-efficient data centers are also moving to mine their share of bitcoins. And between all that activity, the bitcoin mining community continues to develop, grow and discuss the issues of the day. Gavin Andresen talks bitcoin "backbone" project. In a new post on the Bitcoin Foundation blog, chief scientist....
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Bitcoiners have been using the excess heat produced by their mining rigs to stay warm this season. Bitcoiners mining cryptocurrency at home this winter have been staving off freezing temperatures by putting them to good use as heaters. According to the Wall Street Journal, crypto miners in France and the United States report their overall heating costs have dropped — even if the temperature in their homes often gets far above what they’d prefer. Thomas Smith, a photographer based in California, has been using mining rigs to heat his home since at least 2019. He’s also been exploring some....
In just over two weeks, a company called Wisemining plans to launch a new product called Sato, a boiler that can provide heat to a home by leveraging ASIC mining rigs for heat production. It also means that the heater provides revenue in the form of cryptocurrency, which offsets the costs of heating a home a great deal. Bitcoin Mining and Cogeneration While bitcoin (BTC) and a slew of crypto assets have seen values increase a great deal, there’s been a lot of criticism aimed at digital currency mining and how it utilizes lots of electricity. Despite the numerous rebuttals written....
A home bitcoin miner shares details on how he earns bitcoin while heating his home with a DIY ASIC setup.
A harsh winter looms ahead, and a creative New Yorker has found a brilliant solution to mounting heating costs: fill your place with ASICs and start mining Bitcoin. Perhaps you won't become the next Bitcoin millionaire, but you will certainly save a lot of money on heating. The blogger analyzes the cost of all options for heating - natural gas, oil and electricity - and concludes that electricity is the worst of the three options. But sometimes electricity is the only heating source available, because some apartments are only equipped for electricity. Therefore, it's important to find ways....
Data shows the prices of Bitcoin mining rigs have been going down for a while now as profitability for miners has been observing a shrink. Cost Of Bitcoin Mining Rigs Has Been On A Downward Spiral Recently As per the latest weekly report from Arcane Research, BTC mining rigs are now at their lowest cost […]