Topic: Lowering the electricity bill by mining cryptocurrency - page 2. (Read 368 times)

You're a fking moron.

even during a 32 degree- or technically freezing- day, pumps can produce enough heat to keep you very comfortable.
 Newer heat pump systems can take things a step further and pull warmth out of even sub-zero temperatures.
No supplemental heating is required.

According to the U.S. Department of Energy, solar water heaters reduce monthly utility bills by 50 percent to 80 percent on average.
With savings like that, solar water heaters pay for themselves very quickly — usually within 5 to 10 years.

Residential LEDs -- especially ENERGY STAR rated products -- use at least 75% less energy, and last 25 times longer, than incandescent lighting.

The EPA estimates that the average homeowner can save 15% on heating and cooling costs (11% of total energy costs) by adding insulation in attics, crawl spaces, and basement rim joists. For most folks, that’s about $200 in savings per year. In colder parts of the country, like climate zones six and seven, savings increases up to 20%.

How would preheating the air to a heat pump reduce the electricity bills?

Anyhow, yeah nothing new. I've seen a few members using it for solomining during winter and someone rigging a huge radiator for it.

If you have a large enough operation, perhaps you can do this. But oftentimes, mid to large-scale mining that produces much heat that can totally keep you comfortable during the winter are not really affixed to a residential or living space, and are mostly located on warehouses or data centers.

The idea is great, but I think most miners prefer to separate their mining rigs from their homes since most residential spaces can only accommodate for a certain amount of electricity load.

"Only the rich actually make money off mining, the rest just waste their time."

Noone should even listen to him. Listen to how he speaks, he is making claims as if they are well thought out and tested thoroughly. I bet a pretty penny he has never mined in his life. You do not need to be super rich to mine you can mine with a single computer. If you buy a very expensive GPU you can easily make $5+ a day and still play games with the same pc. Now picture buying 6 of those on all the time? It's just very risky and scary that's all.

"Don't waste your time with crypto mining, it is a waste of your time and energy."

I like to waste my time and energy xD

"Heat Pumps or even those little heaters are more efficient at heating you home than the nonsense above."

Who taught you about heat? Did you learn this at school? Wattages creates heat. Anything with high wattage gets hot. Have you even tried being in a room with miners in it? I bet you havent. I have stood in a room with 8 GPU units in it and it was pretty warm. During the summer or hotter days its boiling and you need to run a few aircoolers. Even 1 GPU can warm the area around you.

You're judging without reading. That guy in the article has a heat pump!
He's using mining cards to preheat air that goes into the heat pump and make it draw less power.

Dude,

Heat Pumps or even those little heaters are more efficient at heating you home than the nonsense above.

Don't waste your time with crypto mining, it is a waste of your time and energy.

Only the rich actually make money off mining, the rest just waste their time.

Here's an interesting angle to the bitcoin power consumption debate. Utilizing mining rigs to generate heat to offset winter warming costs.

To implement effectively requires DIY modification of ducting to mining rigs and may not be for everyone. On the surface it seems like something that could be effective to mitigate costs and electricity consumption of mining.

Cold regions like iceland and russia are investing heavily in data centers using their cold climates to cool servers naturally without additional cost. Perhaps there is an opportunity for smaller miners in cold regions to do something similar via leveraging useful heat produced by mining rigs?

Wherever you are in the world, the chances are that a large portion of your utility bill is for heating. This was certainly the case for [Christian Haschek], who realized he can use a cryptocurrency mining rig to offset some of his heating costs.

[Christian]’s central ventilation and water heating is handled by a heat pump, which uses a lot of electricity, especially in the Austrian winter. When it draws in cool air, it first needs to heat it to the thermostat temperature before venting it to the house. Cryptocurrency mining rigs are also heavy electricity users, but they also produce a lot of heat, which can be used to preheat the air going to the heat pump. [Christian] had four older AMD R9 390 GPUs (equivalent to the Nvidia GeForce GTX 970) lying around, so he mounted them in a server case and piped the heat pump’s air intake through the case.

At the time he did the tests, earnings from mining were enough to cover half of his heating bill, even after paying for the mining rig’s electricity. That is not taking into account the electricity savings from the preheated air. He only shows the results of one evening, where it dropped his electricity usage from around 500Wh to below 250Wh. We would like to see the long-term results, and it would be an interesting challenge to build a model to calculate the true costs or savings, taking into account all the factors. For instance, it could be possible to save costs even if the mining rig itself is running at a slight loss.

Of course, this is not a new idea. A quick internet search yields several similar projects and even some commercial crypto mining space heaters. We do like the fact that [Christian] reused some hardware he already had and integrated it into his central heating rather than using it as a mobile unit.

https://hackaday.com/2021/03/01/lowering-the-electricity-bill-by-mining-cryptocurrency/