TL;DR
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We just learned about an odd little product called the Heatbit Mini, which is a heater that warms your room by mining Bitcoin.
Full Story
Alright, lets start the week out with a high-fructose story focusing on a crypto product that fits into the category of:
‘Not necessarily a must-have, but very cool.’
We just learned about a product called the Heatbit Mini, which is a space heater that warms your room by pumping electricity into a mini Bitcoin mining computer (instead of through high resistance wires).
The thinking being: if you’re going to be using the electricity either way — you might as well earn some Bitcoin out of it.
The auto industry made a similar development early last century, when they began warming car interiors with the excess heat generated by the car’s engine.
Here’s what’s cool about this:
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The proliferation of in-home mining rigs will help decentralize the Bitcoin network.
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While they don’t spit out huge sums of Bitcoin — up until the halving, these heaters were earning enough BTC to cover all of the electricity costs they generated (now they only cover half, but still cool!).
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If you don’t spend the Bitcoin you earn, and opt to hold long term — there’s a good chance these earnings will compound over time.
Downside is, it’s expensive ($799)!
But if we were in the market for a top-of-the-line 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’d be a conversation starter).
