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Ukrainian Firm Hotmine Creates Electric Heater that Mines Bitcoin


newslogical.com 20 December 2019 17:30, UTC
Reading time: ~2 m

A Ukrainian firm Hotmine is creating electric heaters that mines cryptocurrency Bitcoin while also heating Bitcoin. The miner, dubbed Hotmine CM-1 Quiet heater, is a convector miner and a heater that produces cryptocurrency at the same time looks and warms like a home heater.

The miner, according to available information from Hotmine, works quietly and earns over $10 every month, with the cost of electricity taken into consideration. Hotminer says the convector-miner earns Bitcoin during crypto winter since it is built on the basis of new energy efficient Bitfury Clark chips, which provide up to 11 Terahash/second. Meanwhile, the present convector-miner goes for $800.

The mining company says the best engineering hands are working on the convector-miner and the first prototype was launched in mid-April 2019.

While normal miners make noise, the convector-miner is quiet as there are no fans in it. The heat coming from the miner moves directly to the radiator and heats around 10 square meters of space.

Hotmine, the producer, has been involved in the development of smart modern mining Bitcoin gadget for some time now.

The company supply miners to countries like Kazakhstan, Korea, India, USA, Georgia, Russia, and the whole of Ukraine where it is based. Hotmine says it is not just working on the production of Bitcoin miners, it believes strongly on the future of the cryptocurrency industry.

The firm started working on immersion cooling technology based on 55nm ASIC chip since 2013, and developed a dynamic model for miner based on immersion-cooling idea.

Meanwhile, there are series of reports that the next Bitcoin halving may affect miners and shake up the cryptocurrency industry.

However, there is high expectation that it may impact the price of Bitcoin as what is applicable theoretically is that once supply is reduced and demand is constant, the outcome is that the price rises.

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