A Finnish company is selling bitcoin miners as home heaters, and CoinDesk reported on November 8 that the heat is effectively free only while the bitcoin price stays high enough. SunBit CEO Elmeri Suomi told CoinDesk the firm has 30 of its Bitcoin Boiler systems running, all but one in Finland, including homes in Nokia, Kotka and Tampere and an industrial hall in Vimpeli.
SunBit puts its break-even price just under $70,000. That is the level at which mining income, after its 10% service fee, just covers the electricity bill. CoinDesk noted this is about 15% below the roughly $81,500 bitcoin price on Friday and excludes the cost of the system, quoted at about $20,000 or more. SunBit’s calculator assumes a 495 TH/s Antminer S21 XP Hydro drawing about 5.3 kW, electricity at about 11 cents per kWh and a network hash rate held at today’s level. On those inputs the owner earns about $900 a year over the power bill, and Suomi estimates payback in three to six years.
The 2028 halving is a larger risk. CoinDesk’s own math suggests a miner-heated home keeps its free heat after the block reward falls to 1.5625 BTC only if bitcoin trades above roughly $131,000. SunBit’s calculator does not include the halving, and Suomi said the company makes no price or difficulty predictions. Heat pumps are more efficient per kilowatt-hour, CoinDesk added, while miner output does not fall in cold weather.
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Sources:
- CoinDesk: These Finland homes get free heat from bitcoin miners (as long as BTC stays above $70,000)
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