This Space Heater Mines Bitcoin for You

TL;DR

• 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:

1. The proliferation of in-home mining rigs will help decentralize the Bitcoin network.

2. 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!).

3. 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).