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Bitcoin's hashrate has recovered back to new all-time highs (lemmy.ml)

submitted 3 years ago by [email protected] to c/[email protected]

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[–] [email protected] 0 points 3 years ago (2 children)

I use bitcoin mining to heat my house. https://github.com/PointyFluff/Magic_Boxen

[–] [email protected] -1 points 3 years ago (2 children)

is there any economic sense in it?

[–] [email protected] 2 points 3 years ago

A space heater consumes 1500 w. My miner consumes 1300 w. A space heater doesn't have any return on the power cost except heat. My miner brings about $5Usd in profit per week after power.

[–] [email protected] 0 points 3 years ago (1 children)

i think you would need a good ASIC miner to make it plausible.
generally, many people think POW coins are bad for the environment.

[–] [email protected] 1 points 3 years ago

If you use the energy input to do work and consider the heat generation as waste, I see the carbon impact of mining.

If you just use the cpu as a substitute for the resistance coil in a space heater with the intention of making heat, is there waste?

My understanding (and I could be absolutely wrong) is that nearly all of the energy used by a computer is converted to heat eventually. If that's true the only difference is that some work gets done in the middle. Is that right?