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
Autodidact / JumpSpotJulian
npub1f2…z78qn
2023-11-22 19:45:08
Author Public Key
npub1f2jmj66ulsv5p3hqngd4c8lw7q7p2v8sal5etdshspkj5yf7x0fq9z78qnPublished at
2023-11-22 19:45:08Event JSON
{
"id": "08c839ddc1ef130ce1bc5b23c89602ea100336cbdddeb29d695ffa2f47f3dc35",
"pubkey": "4aa5b96b5cfc1940c6e09a1b5c1feef03c1530f0efe995b617806d2a113e33d2",
"created_at": 1700682308,
"kind": 1,
"tags": [
[
"t",
"mining"
],
[
"t",
"uk"
],
[
"t",
"bitcoin"
],
[
"t",
"bitcoin"
],
[
"t",
"mining"
],
[
"t",
"bitcoinmining"
],
[
"t",
"uk"
],
[
"t",
"pleb"
]
],
"content": "Doing some cost benefit analysis for home #mining in the #UK. Would love to know your thoughts. (99% sure this is correct)\n\nTwo use cases in our house - Space Heater / Clothes Dryer.\n\nCurrently using a Dyson tower to heat the main room where my mum works during the day. Usage 2000w for about 2 hours each day.\n\nClothes dryer used about 4 times a week for about 180 minutes each time. Running again at 2000w\n\nAverage cost of Electricity in the UK £0.27p/KWh ($0.33)\n\nSo if my calculations are correct for usage it costs the following:\n\nSpace Heater - £32.40 pm (2 hours x 30 days)\nClothes dryer - £25.92pm ((4x180minutes) x 4weeks)\n\nFollowing the https://www.cryptocloaks.com/the-future-of-space-heaters-s9-bitcoin-asic/ \nguide to build #Bitcoin mining space heaters, I estimate it would cost £340 for miner + upgrades.\n\nRunning costs of the miner.\n\nIf following the same usage for the Space Heater / Clothes Dryer I would see the following.\n\nSpace 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\u0026HashingUnit=TH%2Fs\u0026PowerConsumption=650\u0026CostPerkWh=0.33\u0026MiningPoolFee=0) so not sure how accurate this is.\n\nMeaning the cost of running the Space Heater miner for a month = £9pm (running costs + savings)\n\nA whopping 72% saving vs the Dyson!!\n\nRepeating the same process for the Clothes Dryer my Bitcoin mining rig would cost £6.84pm (running costs + savings)\n\nA whopping 75% saving vs the clothes dryer we use now.\n\nSummary, it’s a whole lot cheaper to use a Bitcoin miner to heat my dining room and to dry my clothes. (74% cheaper)\n\nI think I have done this correct. Would love to know your thoughts before I take my findings to the my parents (bill payers) \n\n#bitcoin #mining #Bitcoinmining #UK #pleb",
"sig": "bc3650125511b51df2ba4363968e959282bf965dfde12c9424782b9db2d76a1e736137c21ed2255ee300e8086798e9b0ce147a73b6a7744fd0914555dda2fa28"
}