TL; DR
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We were just introduced to a strange little product called the Heatbit Minia heater that warms your room by mining Bitcoin.
Full story
Okay, let’s start the week with a high fructose story, focusing on a crypto product that fits into the category:
‘Not necessarily a must-have, but terribly cool.’
We were just introduced to a product called the Heatbit Minia space heater that warms your room by pumping electricity into a mini Bitcoin mining computer (rather than through high-resistance wires).
The idea is: if you’re going to use the electricity anyway, you might as well make some Bitcoin from it.
The automotive industry went through a similar development early last century, when they began heating the interior of cars with the excess heat generated by the car’s engine.
Here’s the cool thing about this:
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The proliferation of home-based mining rigs will help decentralize the Bitcoin network.
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While not spewing out huge sums of Bitcoin, up until the halving, these heaters earned enough BTC to cover all the electricity costs they generated (now they only cover half, but they’re still cool!).
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If you don’t spend the Bitcoin you earn and choose to hold it long-term, there is a good chance that this income will increase over time.
Downside is that it’s expensive ($799)!
But if we were looking for a high-end Dyson Heater (which retails for $849), we’d probably opt to save a few bucks and go for the Heatbit Mini.
(If nothing else, it would be a conversation starter).