30 sats \ 3 replies \ @SpaceHodler 3 Nov 2023 \ parent \ on: What do you think the next major win for bitcoin will be? bitcoin
My rates are closer to $0.60/kWh.
Ouch!
I guess I shouldn't have bothered to put an electricity rate in that post. It kinda doesn't matter if you're replacing a heater that you use anyway.
The upfront cost, and time it takes to pay that off is really only a function of how much and how hard you run the miner.
Treat it like a heater that gives you a small rebate on electricity you would use anyway (that's the important part - use anyway) It's not a miner looking for profit.
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It's like resistive heating with a negligible discount, not standard heating, which, given which century we're in, would be a heat pump if you stick to electric. Unless you live in the United States of Gas Guzzlers where energy is dirt cheap and it makes more sense to burn it like there is no tomorrow than to replace the cardboard walls of your house with something that actually retains some heat.
I use natural gas in the house and a heat pump in the outbuilding, both of which cost roughly 1/4 of what resistive heating does.
The profitability calculator says my profits from running an S9 would be -$13 per day, which is a loss of $4745 annually. That's twice as much as my annual utility bills, which include heating, air con (not much as my climate is on the cool side), cooking, lighting, TV, PCs and a bunch of other things.
There is absolutely no incentive for me to replace my climate control with something that only heats, costs more to run and makes a lot of noise on top of that.
Really, energy is much more expensive in many places than where you live, also heating is not needed everywhere, e.g. people who live in the tropics may need cooling and no heating at all.
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If your winters get cold, there could at least be benefit to adding a miner as a preheater of the air intake.
That's my plan for my house I'll afford in 100 years.
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