Thread by @DaddyBTC_pleb

USING AT HOME MINING FOR HEAT REDUCED NATURAL GAS USE BY 75% AND REDUCED EFFECTIVE ELECTRICAL RESIDENTIAL RATE TO ONLY $0.062/kWh

This is based on use of heat from 1 S19 pro, 2 T19s and 3 S9s to heat our entire home, basement & garage. Follow along 👇👇 for details.

My prior thread (see 👇👇) on cost savings using at home mining to heat our home was incomplete as not all of the miners were fully online until mid Dec 2021, so I was eagerly awaiting our Jan 2022 natural gas bill.

https://twitter.com/DaddyBTC_pleb/status/1478579764046745607?s=20&t=L9xTT6QQ2Wy0SKHlSKuv8w

This time I compared data from Jan 2022 with data from Jan 2018, 2019,2020 and 2021:

For each year I looked at the total number of "therms" we used, the total $$ for those therms, the cost per unit in terms of $$/therm and year-over-year price change. As you can see, our natural gas rates have increased 51.3% in the past 2 years.

I then compared the average Jan therms from 2018-2021 (266 therms avg) with therms in Jan 2022 (only 67 therms), which translates into an "overall" reduction from average Jan nat gas use of 75%. This resulted in a total savings of $295.25 in Jan 2022 versus a typical January.

I then looked at average "base usage" of nat gas (i.e., typical monthly use for hot water & cooking) which I estimated based on data from Aug-Sept and set this value at 45 therms. Based on this, our Jan 2022 use "above base usage" was only 22 therms (i.e., 67-45 = 22).

When looking at average Jan 2018-2021 above base usage (220.75 therms) versus Jan 2022 above base usage (22 therms), the % reduction was even more impressive at 90%!

My cohort of 6 miners (some new, some old) consume 9,468 kWh of electricity per month. Our residential rate is $0.093/kWh. However, if the savings off our Jan nat gas bill is applied to our Jan 2022 electrical bill, our effective electrical rate is $0.062/kWh.

Obviously, we'll not be heating the house for the entire year, so this savings will not apply for all months. However, when winter savings is amortized over the entire year, I would hope to reduce my effective rate to ~$0.08/kWh. I'll follow-up in Jan 2023 with real data.

And for all this Jan 2022 electricity we mined a total of:

0.05585562 #BTC

At present fiat exchange rate (about $37,500 at time of tweet), this is about $2,095. Future values of BTC are anyone's guess, but ask yourself what you think that might be worth in a few years.

Thank you to @BigCohoo and @compass_mining for some of my machines, to @econoalchemist and @Diverter_NoKYC for the inspiration to mine at home, and to @Marketsbylili @DailyMiner and countless others for putting out useful information for mining enthusiasts!