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Bitcoin Mining Device Hotmine Wants To Heat Up Siberian Households

Bitcoin

As you may know, Bitcoin mining is a heat-intensive practice. Those that do so enjoy extremely hot temperatures from their respective devices. As it turns out, that heat is so powerful that it can be used to warm up entire rooms. The CEO of Hotmine, Oles Slobodenyuk, is doing just that in Eastern Siberia, reports CoinDesk.

The man pitched his project at the Baikal Blockchain and Crypto Forum a few weeks ago. There, he had said that he wants to sell as many as 200,000 machines to citizens there, as he had heard that “the average temperature of the air is music 2 degrees Celsius.”

Speaking to the publication directly, Slobodenyuk said:

“Our goal is to reach the point where 80 percent of all mining is done with the smart use of the hot air it’s producing, at the same time protecting the bitcoin network. We believe mining should become decentralized again, with a full node in every home.”

Slobodenyuk says that each of his devices generates close to 8 tera-hashes every second. He then states that with Bitcoin, a single tera hash brings in around $7.20 each month. That means one Hotmine device can bring in close to $55 a month, and bring heat into the space as well.

Of course, this brings the idea of electricity bills into the picture, but Slobodenyuk claims that this should cost just $10 a month. So, each Hotmine device not only pays the electric bills but brings in some extra cryptocurrency money on top of that.

 

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Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/