BitHeater – The First Bitcoin Mining Heater

I upvoted because I found it amusing.

> How much can the Bit-Heater mining [sic]? per day? and per year?

> Per the currect [sic] bitcoin price($6,400) [...] $1,095 per year.

It is a red flag that the hash rate is missing from the specs. But let's estimate today's income.

The current BTC price is roughly $31k (up 4.84x vs. $6.4k). [1]

But how worse did the mining difficulty get? Depending on when the specs were written, the difficulty could have been 1.12T at the end of 2017 to 16.55T in April 2020. [2]

Right now the difficulty is 14.36T. Thus it increased between 0.67 and 12.82 times since the article was written.

new income = old_income * price_increase / difficulty_increase.

Current income worst case: about 38% of the advertised income, or $413/yr.

> How much do I need to pay for the electrical power?

> $730 per year.

Worst case scenario, this device offsets only 56% of your resistive heating costs, after shelling out $3500 for it. If you were using a resistive heater year-round, that is.

But chances are you were not; as such, the device might produce a negative ROI. If you run it for the Bitcoin it produces instead of the heat, chances are the Bitcoin mined does not cover the costs of the electricity.

[1] https://www.coinwarz.com/prices/bitcoin/chart

[2] https://www.coinwarz.com/mining/bitcoin/difficulty-chart