Mining bitcoin with the rational of generating heat for your house is a 1 to 1 efficiency from a thermodynamic standpoint. Every KW of heat costs you whatever your electric rate is. You are earning some money (coin) for each KW which reduces your effective heating cost.
At this point I don’t think any of the currencies mining value is even close to the electric rate required to produce it. Put your money into a good geothermal system that gives you 3KW of heat for each 1KW of electricity you put into it. I’m willing to bet you will be farther ahead spending your money on geothermal, solar, and insulation. Mark > On Jan 10, 2021, at 1:22 PM, Matt Hoppes <mattli...@rivervalleyinternet.net> > wrote: > > Now this is an interesting idea I had never considered! > > On 1/10/21 1:15 PM, Mike Hammett wrote: >> I'm intrigued by mining cryptocurrency to generate heat in my house that >> pays for itself. >> I understand that there is something called profit switching that changes >> which currency is being mined based on profitability. >> I understand that ASIC miners are way more profitable. >> I understand that algorithm support in ASIC miners varies. >> Where can I go to separate the wheat from the chaff? Google returns a lot of >> crap. >> I understood that you mine the coin, stuff happens, then the coin goes into >> your wallet, of whatever type. You then hold it or exchange it for goods or >> cash. >> What are pools? >> What are stratums? >> Where can I find more information on asic miners, to find which ones are >> best able to generate a return for their cost? >> ----- >> Mike Hammett >> Intelligent Computing Solutions <http://www.ics-il.com/> >> <https://www.facebook.com/ICSIL><https://plus.google.com/+IntelligentComputingSolutionsDeKalb><https://www.linkedin.com/company/intelligent-computing-solutions><https://twitter.com/ICSIL> >> Midwest Internet Exchange <http://www.midwest-ix.com/> >> <https://www.facebook.com/mdwestix><https://www.linkedin.com/company/midwest-internet-exchange><https://twitter.com/mdwestix> >> The Brothers WISP <http://www.thebrotherswisp.com/> >> <https://www.facebook.com/thebrotherswisp> >> <https://www.youtube.com/channel/UCXSdfxQv7SpoRQYNyLwntZg> > > -- > AF mailing list > AF@af.afmug.com > http://af.afmug.com/mailman/listinfo/af_af.afmug.com -- AF mailing list AF@af.afmug.com http://af.afmug.com/mailman/listinfo/af_af.afmug.com
