Six ways that bitcoin mining is improving building utilities.

Six ways that bitcoin mining is improving building utilities. 

Decarbonization efforts are focused on the energy we use to heat our homes because it contributes significantly to global greenhouse gas emissions. Bitcoin mining might be integrated into commercial and residential buildings profitably through the reuse of waste heat, acting as a spur for electrification retrofits that would enhance building performance and lower carbon emissions globally.

Lowering Building Emissions

The majority of the energy used in buildings is used to generate heat, which is mostly achieved by burning natural gas. 

Electric resistance heating is a straightforward method that can replace gas and remove pollution locally. However, at standard utility rates, it costs 3–5 times as much as gas and is only as clean as the power plant that produces the electricity.

Heat pumps, which capture and compress heat from ambient air, water, or a geothermal well, are a more efficient alternative. Because heat pumps are so much more effective than gas, their running costs are comparable. However, at extremely cold temperatures, most heat pumps require an electric backup 

A financial barrier to reducing greenhouse gas emissions from the built environment is the need for new infrastructure, equipment, and modest operational cost savings. Bitcoin mining has the potential to alter the financial situation by producing heat as a byproduct.

Energizing Through Bitcoin Mining

A mining ASIC consumes almost all of its power as heat, which must be evacuated from the device. ASICs that use air cooling have fans to remove heat. Although this can be used to warm the air around you, it is difficult to compress, move, or store for other purposes.

Water- or dielectric-cooled ASICs offer a better chance for system integration with buildings. The mining operation offers a source of hot water that may be used in a building by connecting fluid-cooled ASICs to hot water systems via piping, a pump, and a heat exchanger. ASICs can operate 5% more effectively and 80% faster than air-cooled equipment.

A variety of uses, including space heating, residential hot water, pool heating, and industrial usage, can be made of the hot water produced by Bitcoin mining. Hotels, multifamily housing, laboratories, university buildings, manufacturing complexes, and other structures are among those with significant electrical service requirements as well as year-round hot water requirements.

Reused waste heat can offset around 33% of mining expenses when cycled to replace gas heating. Because water-cooled equipment operates more effectively, the miners can operate at a profit even when paying retail electricity prices by operating more quickly and selling the extra heat. The structure also stops emitting localized emissions from fossil fuels used for heating.

Using Solar Power

The financial justification for incorporating bitcoin mining into building systems is made by the reuse of waste heat, but it would be more appealing if on-site solar photovoltaic (PV) generation were also taken into account. In the past ten years, the cost of rooftop PV arrays with parking canopy integration has decreased dramatically, which has increased acceptance. Power generated by the PV panels in excess of the building's needs can either be sold back to the grid via net metering, stored on site, or, in the worst case scenario, wasted, depending on the utility provider and connection.

Another way to make use of extra solar PV production is with an on-site Bitcoin mining setup. It may be more profitable to use the extra energy to mine bitcoins rather than to sell it back to the grid, depending on the difficulty adjustment and utility net metering agreement. Building owners are encouraged to make the most of on-site PV arrays thanks to this new revenue option, which increases capacity and decreases reliance on fossil fuel-generated electricity.

Demand Reaction

Scalability is one of the intriguing features of bitcoin mining. Single ASICs can operate at a lower cost than large-scale miners with enormous data centers, depending on the cost of electricity, the ability to recover heat, and access to infrastructure. The scale of a mining operation is provided by commercial and multifamily structures, which falls in the middle of that spectrum. Mining might be successfully integrated into thousands of structures worldwide, expanding the bitcoin network and distributing hashing power more widely.

One day, bitcoin miners may not only protect the network but also supply hot water for rental homes, heat for schools, and offices, as well as collect extra solar energy from rooftops.

Low Carbon Housing with Bitcoin Mining in the Future

Consider an apartment building that decided to replace the gas-fired boiler in the basement with a fluid-cooled unit. A mining operator that will split profits with the building owner has funded and installed the mining equipment and updated electrical infrastructure.

Hot water is provided for showers, sinks, dishwashers, and washing machines by the mining heat. To heat the apartments in the cold, the miners put in extra hours. A recently constructed rooftop PV system provides the miners with surplus power during the hottest summer days to keep them operating affordably. When necessary to deal with peak conditions and generate additional cash, the building engages in local grid demand response programs and shuts down mining.

As a result, the building's owner has more money that can be used to improve maintenance, raise the property value, and enhance the experience for renters, all while lowering carbon emissions. A triple win for buildings, bitcoin, and the environment would result from scaling and implementing this similar strategy across commercial and residential assets.

Article Credit: Nasqad

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