Finland’s households turn to Bitcoin mining to heat homes

In Finland, a novel initiative is transforming the energy derived from Bitcoin (BTC) mining into heat for residences throughout the frigid winters.

Hashlabs Mining, a leader in Bitcoin mining infrastructure, unveiled an innovative initiative for generating heat through custom-built Bitcoin mining equipment.

The WhatsMiner M63S ASIC mining device, which generates heat during Bitcoin mining operations, is integrated with Finland’s district heating system. This system distributes heat from a central source through insulated pipes to various buildings. With this new project, households can reap the benefits of industrial-scale Bitcoin mining by using the excess heat it produces.

Using the substantial energy generated from Finnish nuclear power plants, heating production can be significantly boosted with the assistance of industries such as Bitcoin mining operations, as suggested by Jaran Mellerud, co-founder of Hashlabs Mining, in a post on X, dated April 23.

A partnership located near Hashlabs has successfully connected two Bitcoin mining operations to district heating systems and is in the process of adding a third one, according to Mellerud.

In the project, Hashlab harnesses the hot water produced during WhatsMiner M63S cryptocurrency mining, which reaches approximately 70 degrees Celsius. According to Hashlabs’ founder, “Bitcoin mining is an exceptional source of dependable, high-temperature water for district heating.”

Finland's households turn to Bitcoin mining to heat homes

The hot water produced by WhatsMiner can serve as a replacement for heat generated in facilities that typically use carbon-neutral fuel sources such as biomass, along with peat, hard coal, and other non-renewable fuels.

In the year 2019, approximately one-third (35%) of Finland’s district heating was generated using wood fuel, while hard coal contributed to around eighteen percent (18%), based on statistics provided by Statistics Finland.

In 2019, peat ranked as the third significant energy source for district heating, accounting for approximately 15% of the production.

This is a developing story, and further information will be added as it becomes available.

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2024-04-23 14:58