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Americans are heating their homes with bitcoin this winter
- Entrepreneurs are racing to repurpose and capitalize on heat that is wasted in cryptocurrency mining.
- Bitcoin mining generates enough heat annually for Finland’s needs, but most goes up into the air, according to an analysis from digital assets brokerage K33.
- That’s led to recent innovations like a $900 space heater that also doubles as a bitcoin mining rig, but skeptics say the growing crypto home heating market is an inefficient method of providing warmth and managing energy bills.
Let’s start with the basics: the computing power of crypto mining generates a lot of heat, most which just ends up vented into the air. According to digital assets brokerage, K33, the bitcoin mining industry generates about 100 TWh of heat annually — enough to heat all of Finland. This energy waste within a very energy-intense industry is leading entrepreneurs to look for ways to repurpose the heat for homes, offices, or other locations, especially in colder weather months.
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