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2023-11-22 19:45:08

Autodidact on Nostr: Doing some cost benefit analysis for home #mining in the #UK. Would love to know your ...

Doing some cost benefit analysis for home #mining in the #UK. Would love to know your thoughts. (99% sure this is correct)

Two use cases in our house - Space Heater / Clothes Dryer.

Currently using a Dyson tower to heat the main room where my mum works during the day. Usage 2000w for about 2 hours each day.

Clothes dryer used about 4 times a week for about 180 minutes each time. Running again at 2000w

Average cost of Electricity in the UK £0.27p/KWh ($0.33)

So if my calculations are correct for usage it costs the following:

Space Heater - £32.40 pm (2 hours x 30 days)
Clothes dryer - £25.92pm ((4x180minutes) x 4weeks)

Following the https://www.cryptocloaks.com/the-future-of-space-heaters-s9-bitcoin-asic/
guide to build #Bitcoin mining space heaters, I estimate it would cost £340 for miner + upgrades.

Running costs of the miner.

If following the same usage for the Space Heater / Clothes Dryer I would see the following.

Space Heater miner running costs - £0.35 (2 hours) earning about £0.03 worth of Sats per hour (used https://www.cryptocompare.com/mining/calculator/btc?HashingPower=13.5&HashingUnit=TH%2Fs&PowerConsumption=650&CostPerkWh=0.33&MiningPoolFee=0) so not sure how accurate this is.

Meaning the cost of running the Space Heater miner for a month = £9pm (running costs + savings)

A whopping 72% saving vs the Dyson!!

Repeating the same process for the Clothes Dryer my Bitcoin mining rig would cost £6.84pm (running costs + savings)

A whopping 75% saving vs the clothes dryer we use now.

Summary, it’s a whole lot cheaper to use a Bitcoin miner to heat my dining room and to dry my clothes. (74% cheaper)

I think I have done this correct. Would love to know your thoughts before I take my findings to the my parents (bill payers)

#bitcoin #mining #Bitcoinmining #UK #pleb
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