Bitcoin Mining Rig Heating: A New Heating Option for Offices

Recently, we acquired a Bitcoin mining rig heater called Heatbit Trio and applied it to office heating. This device, which combines Bitcoin mining with heating, piqued our interest. In the long run, as the lifespan of Application-Specific Integrated Circuits (ASIC) extends and production costs decrease, such devices may play a significant role in the Bitcoin mining industry. Theoretically, if mining can be combined with the necessary heating requirements, it could achieve 100% energy efficiency in mining, resulting in zero operational energy costs.

However, this technology still faces some challenges. The lifespan of ordinary heaters is typically 10 to 15 years, while the update speed of Bitcoin mining equipment is relatively fast. At the same time, the production cost of ASICs is high, and investment returns can only be realized when operating around the clock. However, we expect that as the physical limits of Moore's Law gradually become apparent, the speed of ASIC efficiency improvement will slow down, allowing these devices to operate economically for a longer time, potentially around 10 years. As the technology matures, production costs are also expected to decrease. Under this trend, integrating Bitcoin mining with heating equipment may become more economically viable, such as for use in swimming pools, commercial boilers, home boilers, and commercial and residential electric heating systems.

The Heatbit device we use can mine at a maximum power of 400W. If more heat is needed, the heating power can be increased to 1,400W, with the additional 1,000W used solely for heating and not for mining.

Initial User Experience

This device is essentially a modified old-style Bitcoin Mining Rig, featuring an aesthetically pleasing circular steel casing design, with noise levels lower than traditional professional Bitcoin Mining Rigs. Its goal is to become a consumer-friendly device aimed at ordinary consumers, potentially competing more with high-end home appliance brands rather than professional Bitcoin mining equipment.

During initial use, we found some areas for improvement. Although it is possible to remotely monitor the device status through the mobile application, currently, the application cannot control the device, which is a clear functional omission. Considering that the Mining Rig requires an internet connection for use, remote control functionality should be a basic configuration. In addition, compared to high-end home appliances in the same price range, the design of the Heatbit display and control panel has room for improvement.

Another area that needs improvement is that users currently cannot choose the mining pool themselves. Although this product is primarily aimed at ordinary consumers and simplifies operation, adding an option for custom mining pools in the settings would be more practical. These issues are expected to be resolved through software updates.

Performance Test

In the noise test, we found that the actual noise level of Heatbit was higher than the officially claimed 40 decibels. In an office environment with background noise of about 48.5 decibels, the noise level measured after turning on Heatbit reached 56.5 decibels. After simple calculations, we estimated that the noise generated by Heatbit itself was about 55.8 decibels, which is significantly higher than the official data. Nevertheless, compared to the noise level of about 80 decibels of ordinary ASIC mining rigs, Heatbit is still much quieter.

In terms of power consumption, the typical power consumption of Heatbit in pure mining mode is about 440W, slightly higher than the 400W reported by the application. The application shows a hash rate of about 10 TH/s, but since we cannot directly view the mining pool data, we are unable to independently verify this data.

According to the data provided by the application, the mining efficiency of Heatbit is about 40 J/Th, which is comparable to the top ASIC mining rigs released at the beginning of 2020 (about 5 years old technology). Although the price of Heatbit is $1000, which is higher than the cost of purchasing old mining rigs, it offers a better user experience and a design more suitable for office environments.

Economic Analysis

From a purely mining perspective, considering the cost of commercial electricity, this Mining Rig may not be profitable. However, if it is viewed as a heater and used only when heating is needed, then the actual electricity cost can be considered zero. This makes mining potentially economically viable after deducting the cost of the equipment.

Compared to the price of an ordinary electric heater at around 200 dollars, Heatbit would take several years to offset the price difference of 800 dollars through mining profits. Therefore, from a purely economic perspective, this device may not have an advantage. However, when compared to high-end air purifiers in the same price range, the mining function of Heatbit can be seen as an additional economic benefit.

For certain specific users, such as tech startups with offices in cold regions, Heatbit may be an interesting choice. It not only meets heating needs but also brings some Bitcoin revenue to the company while reflecting its innovative spirit.

Overall, Heatbit represents an innovative heating solution that combines Bitcoin mining with everyday heating needs. Although there is still room for improvement in terms of cost-effectiveness and certain functions, it provides an interesting direction for the future integration of energy efficiency and cryptocurrency mining. With advancements in technology and reductions in associated costs, such devices may occupy a more significant market position in the future.