Whether you are thinking about making Bitcoin or crypto, or just looking for a way to save a few dollars while heating up your room, mining crypto can help you get there.
Based on a survey done by Rent.com, 10 percent of renters said that utilities are their biggest monthly expenses, coming in third after monthly rent and groceries. Heating your apartment, especially those in regions with extreme temperatures, can be among the more expensive component of your utility bill.
So, is there a way to save on heating bills and maintain comfortable temperatures in your home this winter? The first option that perhaps is coming to your minds is energy efficient heaters or energy saving heaters. Here I’ll show you a better way to save on heating costs.
You may have heard about cryptocurrency mining, the way it works is very simple; you use your computer to solve some mathematical equations, in return you get paid by cryptocurrency, which you can sell it at any time and earn cash. All you need to pay for is electricity if you already have a computer at home.
Cryptocurrency mining takes a lot of energy, and anything that uses energy generates heat. So why not using the generated heat to heat your entire home while you’re making money? Isn’t it a cool way to save on energy cost?
Heaters are one of the most expensive electrical devices in a home, and if you’re already spending the money to heat your home, or let’s say burning your money, you might as well make some of that back in cryptocurrency.
Just keep in mind, I’m not saying this is a free heater, you still have to pay for electricity, but you don’t burn your money the way it’s done in traditional heaters; you use the electricity to generate cash, and the energy that is used to generate the cash can be used to heat your home. Doesn’t it sound fantastic?
There are companies that have actually created such heaters by combining a cryptocurrency mining rig with a wall-mounted radiator to heat your home and earn you some digital money. Check out Qarnot QC1 “crypto heater”; it’s a mining rig that also looks like a fancy radiator. Click on the image belwo.
It looks like one of the nicest radiators I have ever seen, they definitely have put a lot of effort into the design. The set up process is very easy and quick too, but everything comes with a cost. If you don’t mind paying €2,900 (roughly $3,570), this could be a good money saving electric heater.
The other way that is less expensive is to build your own Ethereum miner, especially if you have a computer at home. Instead of letting it sit on the desk and take space, you can get it to work to mine you cryptocurrency and keep you warm. Why not?!
Even an old computer should be good to start with. You don’t need a high-end processor or mining motherboard, an Intel Pentium processor works perfectly fine. The important part is the GPU, which handles all the calculations and of course gets hot.
You may ask why I’m not showing you how to build your own Bitcoin miner? The reason is that for Bitcoin you need an ASIC miner which is expensive, and very noisy. So, it’s not really a good option for saving energy at home.
If you’re currently using electric heaters, it absolutely makes sense to replace them with mining rigs. But if you just want to give it a try, you may want to check mining profitability calculators and especially for this case, Ethereum mining calculator. These calculators check Ethereum price now and also electricity cost in your region to calculate the mining profit.
If you’re interested in learning more about Ethereum or Bitcoin and cryptocurrency in general, this is a great book to start. It’s a well written short book for beginners with no prior knowledge required.
Here you can also find a compelete instruction on how to optimise your mining rig to get the best performence. Click on the link below to download your FREE copy.
Here is a complete list of components for an Ethereum mining rig. This is a great example of a very efficient crypto mining rig on budget. This is the GPU mining rig I’m using at home.
Elliott Dian, 02/16/2019
For building 6 GPU mining rigs you could get Z170 and Z270 Pro series. Other cheaper and reliable motherboards like H81 pro BTC 2.0 work well too. It depends how much budget you want to spend. For the 12/13 GPU mining rigs, the best motherboard to use is an ASRock H110 Pro BTC.
GPU is the main part of Ethereum mining rigs. The best GPUs for this system are Radeon RX 4xx/5xx series or Nvidia GTX 1060/1070.
For a 6-GPU and a 12-GPU mining rig, a 4GB SSD and 128GB SSD should be enough.
You can run your mining system with a simple and inexpensive RAM (1333MHz). 4GB of any RAM is enough for 6 GPU rigs or 8GB of any RAM is good for 12/13 GPU rigs.
PSU is one of the main components of your mining rig that provides power to the system. A cheap and low-quality PSU can cause serious damages. High quality and reliable PSUs are recommended; only 80 Plus Gold or 80 Plus Platinum certified PSUs.
Processor is not playing a big role in mining. Any CPU that fits the socket of your motherboard works fine. Intel processor 1150 for H81 pro BTC, or 1151 LGA CPU for H110 Pro BTC Motherboard is sufficient.
Risers are expansion cards that are used to extend the slots on motherboards, as there’s not enough space on motherboards to mount all 6 or 12 GPUs on them.