Why Bitcoin Mining
Mining bitcoin is the process by which a computer runs at 100% performance to generate hashes whose purpose is to find a particular number in reward for newly minted bitcoin. My goal with running a bitcoin miner is to generate heat for my apartment during the winter while simultaneously receiving bitcoin.
My setup
- Bitmain Antminer S9
- Bitmain APW3++ PSU
- BraiinsOS+ (Firmware)
- Slush Pool (Mining pool)
Caveats
Although I am technically earning bitcoin by running this, the cost of electricity is too high for me to be profitable. The S9 runs at ~1350W by default. This miner is able to easily heat up my apartment, similar to a space heater, albeit much louder. ~70-80dB loud. My next step is to build a soundproofing enclosure to muffle the noise to ~40-50dB. After that, I’ll possibly add some form of ducting to have the ability to re-direct the airflow to the room I want the hot air moving to.
Rather than run my electric-powered heating, I can run this and at least earn the equivalent in today’s value of $30/month. I believe the potential for bitcoin’s price is much higher than where it currently sits at $16,000. If the price hits $50,000 again or higher, then any bitcoin I earned this winter will be in profit again. (Not financial advice) I think bitcoin goes much higher than that in the long-term.
As always, if you have any questions or are interested in doing the same, then I would be more than happy to discuss it with you and help!