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Bitcoin Mining Heats Home For Free In Siberia (qz.com)

Posted by BeauHD on from the cottage-in-the-woods dept.

Quartz has published a video on YouTube about two entrepreneurs who have figured out how to heat their homes for free by mining bitcoin. The "miner" -- that is, the machine mining the bitcoins -- warms up liquid that is then transferred to the underfloor heating system. The cottage has two miners, which bring in about $430 per month from processing bitcoin transactions -- all while keeping the 20 square meter space warm.

2 of 106 comments (clear)

  1. Re:Mining vs Transaction by Pfhorrest · · Score: 3, Informative

    Pretty much yes. "Mining" bitcoin means doing the cryptographic work necessary to verify transactions, and that work is automatically rewarded by the system by the generation of new bitcoins for those who do the work.

    --
    -Forrest Cameranesi, Geek of all Trades
    "I am Sam. Sam I am. I do not like trolls, flames, or spam."
  2. Re:So I guess Elecrity is free in Siberia? by war4peace · · Score: 3, Informative

    1. Siberia is not in Eastern Europe.
    2. There is profit to be made, in several ways. First, you no longer pay for heating, so you save that amount. Then, you make money out of generating cryptocurrency.
    3. The guys in TFA have built a prototype and they want to make a business out of it - sell it to people as a heating device.

    I keep one room in my home warm during the winter through cryptomining - and make a profit too.

    --
    ...gis sdrawkcab (usually not responding to ACs; don't bother posting as AC)