What are the economics of using ASIC heating vs Natural Gas?
Discussion
More energy saving and cheaper
ASIC heating is the same as standard radiant heating. 1000w space heater = 1000w hash2heating. So comparison is Nat gas to radiant heat. Should be lots of those reports around.
Watts can directly be converted to BTUs.
BTU (British Thermal Unit)
For W to BTU/h conversions, 1 W is equal to 3.41 BTU/h. Therefore to convert BTU/h into Watts you need to divide by 3.41; to convert Watts into BTU/h you need to multiply by 3.41
3x more expensive per MW/H in the UK. Gas central heating a lot cheaper than electricity
Unless you heat with a new miner. If you get ~75% - 100+% of the cost of the electricitys cost back in Bitcoin the perspectives change.
It’s frustratingly complicated to calculate. I want it to be easier. You can probably assume it’s cheaper to heat via mining, unless your miner is quite inefficient. What that cutoff is depends on your local electricity to natural gas price ratio and the miner’s efficiency.
Then you need to take into account the fact that you probably already have the natural gas heating equipment but you don’t have the mining equipment