This research focuses on heating an elderly care home, Amaliahof, using residual heat from Bitcoin miners. The current heating system, managed by ReDo, relies on costly gas boilers, which are inefficient and need replacing. Conven- tional electric solutions, like heat pumps, are unsuitable due to high installation costs and the need for high-temperature heat delivery. Bitcoin mining offers a potential solution, as it generates both high temperatures and income through Bit- coin. This paper explores various heating concepts, both conventional and novel, to determine their cost-effectiveness. A Python model is created to approximate running costs over the exploitation period, with several Bitcoin price sce- narios to simulate market dynamics. The results indicate that integrating Bitcoin mining, is a cost-effective solution, despite its high initial cost. Potentially this generates significant income from Bitcoin, offsetting its purchase cost multiple times over. However, its high electricity consumption raises sustainability concerns. Concept 5 emerges as the most sustainable option, using the least amount of gas and electricity, but may require adjustments to optimize performance and reduce costs. The study concludes that Bitcoin mining can significantly reduce heating costs, provided there is confidence in the Bitcoin network’s positive development. The integration of mining into heating systems offers a promising approach, though regulatory compliance and sustainability considerations must be addressed. Further research is needed to ensure compliance with ACM regulations and to explore the full potential of combining heat- ing systems with Bitcoin mining for improved cost-effectiveness and environmental impact.
The research paper:
Exploring_Bitcoin_mining_heating_concepts_and_their_performance_in_an_elderly_care_home_LQ
The explanatory video:
