A startup has developed a home heater that mines Bitcoin
HeatBit presented a new device combining a Bitcoin miner with a heater . Crypto.news talked with its developer during the Web Summit in Lisbon. An individual Bitcoin transaction is estimated to consume around 710 kWh, equivalent to more than 20 days’ worth of electricity for an average American household. To put this into perspective, the average cost per kWh in the U.S. is around 17 cents, resulting in a substantial energy bill of approximately $120 for a single Bitcoin transaction. HeatBit, a start up, has taken a rather inconvenient approach to alleviating the steep costs linked with Bitcoin mining: combining a Bitcoin miner with a heater . Led by Alex Busarov, an LSE graduate and former McKinsey employee, the company presented its creation at the Web Summit in Lisbon, an event attended by crypto.news. Presented as the world’s first heater -purifier, it not only warms homes but also claims to add an additional $15 to monthly savings. The HeatBit Mini employs silicon chips t...