In the context of rising electricity prices and harsh winter, the technology company Canaan introduced a unique solution: Avalon Mini 3, a device that both mines $BTC and heats living spaces, priced at $899.
How Avalon Mini 3 Works
Avalon Mini 3 recycles excess heat from the Bitcoin mining process to heat, helping reduce energy costs and mitigate negative environmental impacts. This is a 'plug-and-play' device, easy to use and designed for general users rather than just tech enthusiasts.
• Mining performance: The device has a power of 37.5 TH/s (terahashes per second).
• Competitive ratio: According to data from Coinwarz, the Bitcoin network had a total hashrate of over 800 million TH/s as of January 7. This means that users of Avalon Mini 3 will only have a ratio of 1 in 19.5 million to solve a block and receive a reward of 3.125 BTC (~300,000 USD).
Although the success rate is low, there are still rare cases like an individual miner in 2023 who surpassed the ratio of 1 in 26.9 million to successfully solve a block.
Bitcoin Mining Heater: A Not-New But Promising Trend
The reuse of heat energy from Bitcoin mining hardware has been exploited for a long time:
• In 2018, heat from Bitcoin mining was used to grow tomatoes in greenhouses in the Netherlands.
• In 2023, a spa in New York used heat from mining equipment to warm the bath.
Canaan is not the only company pursuing this idea:
• Heatbit, a similar product, once claimed it could reduce electricity costs by 50-70% for users.
• This device operates quietly and is easy to use, just like a regular heater: simply plug it in, connect to your phone, and start it up.
The Future of Bitcoin Mining Technology Combined with Heating
Avalon Mini 3 not only provides convenience to users but also contributes to optimizing energy in the context of the cost of living crisis. Although profits from mining Bitcoin with this device are not high, the added value from heating capabilities and reduced energy costs can be a significant attraction for households.
Conclusion
Avalon Mini 3 is a testament to the continuous innovation of the technology industry, especially in maximizing the value from excess energy. Despite the low success rate of Bitcoin mining, this device promises a dual solution: both heating and opening up opportunities for additional income from cryptocurrency. Will Bitcoin mining heaters become a popular trend in the future? Time will tell.