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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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