Today we have something interesting to talk about that revolves around cryptocurrency.
Heatbit. If you’ve never heard of Heatbit, that’s alright because this review will help you learn of this potentially new kind of crypto miner.
I use the term crypto miner loosely because it isn’t mining crypto in a traditional sense, but it does help you earn money through cryptocurrency by generating heat to warm your home.
It sounds too good to be true but the fact of the matter is that it’s pretty cutting edge and could be a new foray into earning passive crypto.
I won’t spoil too much of the details just yet as we’ll jump into the review to check out the specs, details, and other bits of information you’ll want to know with the Heatbit.
How Does Heatbit Work
The first thing we have to address is how the Heatbit heater works. As I mentioned before, it’s not a traditional crypto miner, so it operates in similar, yet different ways.
Heatbit is an electric heater designed to heat your home while earning your Bitcoin in the process.
How this works is that the heater is using the electricity of your home to generate power inside the unit, which then powers its processors (or chips) to perform calculations.
These calculations are the same as crypto mining rigs, wherein a unit solves hashrate to complete blocks in the Bitcoin blockchain. Instead of solely relying on the electrical output of your home, the energy is used to help heat your home in the process.
The byproduct of heat generation from these chips is often an issue and cause for concern regarding Ethereum and Bitcoin mining, as well as crypto mining as a whole, but Heatbit is trying to harness it for something productive like heating your home.
By turning excess into heat, you can use Heatbit to help earn money while heating your home which is the whole allure of their hardware.
Now that you know how it works, we’ll get into the nitty gritty with the technical specs and details about their hardware.
Heatbit Technical Specs
The Heatbit sounds too good to be true, but after taking a look at their site, they provide good information on how it works.
As you can see, the Heatbit heater unit is quite handy as a heater and as a Bitcoin miner.
It consumes roughly 1300 Watts of power, which is slightly less than a standard space heater, which provides 1500 Watts of power, meaning it works well in comparison to dedicated heaters.
This allows it to produce the heating space of approximately 150-170 sq. feet as claimed by their website, meaning the Heatbit will heat most rooms in your house. It’s closer in estimate to 125 sq. ft as most 1250-1500 Watt heaters fall within that range.
It also produces very little noise, as <42 dBa is close to a standard library, bird call, or low-limit urban area in terms of noise. This is a major issue for most space heaters and for crypto mining rigs as the more power they consume, the hotter it gets, and the louder it becomes.
It’s 31lbs, which puts it in the average range for space heaters. As for its size, in comparison to crypto miners, some can range from as little as 10lbs (excluding GPUs, PSUs, etc.) upwards to 30lbs so it’s similar in weight.
Unfortunately, their site offers little information on the dimensions of the unit, but as seen in the diagrams and videos, it doesn’t seem to be that intrusive in size. Its thin, vertical design allows it to be tucked away which is nice for space-saving measures.
Cost/Earnings/Power Consumption Calculator
You’ll also notice that they have a very handy calculator on their site to help determine the cost of energy consumption compared to earnings from Heatbit.
They also include a time period feature so you can adjust the parameters to better understand the results of your potential use of the Heatbit.
Mind you, it’s not perfect, but it does a good job of giving you an idea of how much you can earn in relation to costs and usage.
Heatbit vs. Other Crypto Mining Rigs
Before we get into the comparisons between Heatbit and traditional crypto miners and mining rigs, it’s important to note that the Heatbit is not primarily a miner, it merely provides the opportunity to complete two tasks:
- 1Heat your home
- 2Create that heat by solving the hash rate
Knowing this, you can understand why I wouldn’t be quick to call Heatbit a crypto miner.
Nonetheless, here is a shortlist of traditional crypto miners and mining rigs:
How do these crypto miners differ from the Heatbit? Their main job is to mine crypto, with the exception of the Alienware Auror R11 Gaming Desktop, which as the name suggests, is a gaming desktop PC first and foremost.
The Bitmain S17 Pro, Antminer D3, Canaan Avalon 1166 Pro, and any of the other variations of the Bitmain line of miners and Antminer line of miners are all dedicated crypto mining rigs that use GPU, CPU, FPGA, cloud, or ASIC power to solve hash rate.
In this case, all of the ones listed here (aside from the Aurora R11) are ASIC miners, one of the most popular and powerful forms of miners. ASIC (application-specific integrated circuit) miners use a dedicated chip to perform a specific task, ie. mine Bitcoin.
Both the Heatbit and ASIC miners use energy to solve those hash rate problems to complete blocks of the blockchain, but Heatbit converts that energy into heat to provide more than one purpose as opposed to ASIC miners.
These miners can perform hash rate calculations at a significantly higher rate than the Heatbit. The Bitmain Antminer S19 produces at a rate of 110 Th/s which is significantly higher than Heatbits 14 Th/s, which makes sense given its capabilities in comparison.
Why Choose Heatbit Over Crypto Miners
Continuing on the last subject, you might ask why you’d choose Heatbit over traditional crypto miners.
The most obvious reason why you’d choose the Heatbit is that you aren’t committing to mining at a constant rate.
The Heatbit can mine Bitcoin passively, but you aren’t doing so with the intention of amassing enough Satoshis for a full coin, which already takes a long time.
Secondly, you want a space heater that doesn’t look like a space heater. The intelligent design of the Heatbit makes it an excellent yet practical accessory for your home and can help reduce the costs of raising your thermostat or electric baseboard heating.
Traditional crypto miners can produce at upwards of 10x the hash rate of the Heatbit, but that comes at the expense of producing more than double the wattage. Similarly, the initial cost of buying a miner is incredibly high, which begs the question is crypto mining worth the effort.
Many of the Antminer lines of crypto mining rigs can cost anywhere from $6000 to $13 000, and that’s assuming you can find one as they were scooped up before the semiconductor shortage by crypto mining farms and are generally harder to come by these days.
The initial cost of the Heatbit is much lower and provides more utility, even if it doesn’t mine as much crypto, plus you don't have to figure out details on bitcoin mining contracts or anything that might be too complicated.
It's simple, easy to use, your Bitcoin can be transferred to a crypto wallet, and it's affordable.
When and Where is Heatbit Available
Luckily, Heatbit is still available and you won’t need to buy it through any backchannel sources or third parties.
Heatbit crypto mining heaters can be found on their official website. They offer three different color schemes: Black & White, Black & Orange, and Wooden.
Unfortunately for now the Wooden color model is sold out, and I was unable to find information on when it would be back in stock.
However, the other two colorways are both very pleasing to the eyes.
The Black & Orange looks very similar to a high-end gaming PC setup which makes it a neat addition to a games room, while the Black & White looks even slicker, like a 2001: A Space Odyssey prop.
All three models are/have been shipping since November 2021 all the way until January 2022. The Black & White model costs $1099.00 while the Black & Orange costs $1049.00.
The Heatbit represents an interesting new approach to crypto mining.
It’s not blowing ASIC miners out of the water with performance, but it’s able to perform two functions well which makes it incredibly useful.
The biggest pros I noticed with the Heatbit was the fact that it converts the used energy from solving hash rate into energy which becomes heat, rather than just wasted wattage.
Secondly, it’s a pretty darn good space heater that doesn’t take up much room, yet heats plenty of it.
It’s not producing an eye-popping amount of Bitcoin, so some people believe these cheaper types of miners are an easy get rich tool, which is untrue. For what it is, it’s still good at mining considering that it’s not the primary function.
Overall, I was very impressed with it given its capability, the cost, the design and look, and how useful it is on a practical level.