Category Archives: Bitcoin

Tech enthusiast converts Bitcoin miner into heater to grow cannabis – Finbold – Finance in Bold

Posted: May 18, 2023 at 12:57 am

With the rapid expansion of the cryptocurrency industry, many people see mining Bitcoin (BTC) as a great way to increase their income, but some of them use mining devices for less conventional ways including growing cannabis and vegetables.

One of these people is Twitter user Rev.Hodl, who said he had deployed a Bitcoin miner to support the growth of his cannabis and vegetable seedlings during cold months, and he seemed to be very happy with the results, as he shared in a tweet on May 17.

Interestingly, answering commenters questions, Rev.Hodl said he used a Bitcoin miner for other purposes, including warming his house, as a dehydrator, using the surplus solar power at his office grid yurt, and more:

Its better than any plain old electric heater. Since Ive got it, any reason could use electric heat, Im using a Bitcoin miner. Made a dehydrator, heated my house in the winter, use the extra solar power at my office grid yurt, etc. Since I have it, I need to find good reasons.

Furthermore, he explained that he had set the miner between 500-700w to keep temps in 70s while outdoor temps got as low as 20s, stating that it was amazing what the little asic computer is capable of.

Earlier in January, crypto YouTuber Drew Vosk examined the various existing methods to mine cryptocurrencies, including hard drive mining, 5G mining, ASIC mining, and Equihash mining, as alternatives to graphics processing units (GPUs), which he considers no longer viable, as there are only four graphics cards today that he believes earn more money than they burn electricity.

At the same time, people have also turned to other, more ecologically acceptable ways to mine digital assets, such as using solar panels and hydro-electricity, the latter of which was witnessed in the example of Virunga National Park in eastern Congo that has used hydroelectric power to mine Bitcoin in a bid to secure funding for the protection of its forests and wildlife.

On top of that, a study has shown that incorporating Bitcoin mining into solar energy systems could improve the grids stability and scalability, while simultaneously keeping them cost-effective, thus helping them meet 99% of the end-user demand, as Finbold reported in February.

Featured image via Rev.Hodl Twitter

Read the rest here:
Tech enthusiast converts Bitcoin miner into heater to grow cannabis - Finbold - Finance in Bold

Posted in Bitcoin | Comments Off

If You Bought Your Mom $100 In Bitcoin, Dogecoin And Ethereum … – Benzinga

Posted: at 12:57 am

Roses are red, violets are blue, flowers are overrated, does Mom want crypto from you?

If youre struggling with what to get your mom for Mothers Day, a gift of cryptocurrency is anoption. Heres a look at whether a gift of crypto on Mothers Day last year would have beena good investment.

What Happened: Mothers Dayis being celebrated today. While many will get their moms flowers and a card, another optionis buying shares of some of the most valuable and most well-known public companies.Others might consider gifting their momscryptocurrency as a long-term bet on a rebound over the coming years.

Mothers Day was designated an official holiday by then President Woodrow Wilson in 1914 and is celebrated on the second Sunday of May. Last year, Mothers Day was celebrated on May 8, 2022. Heres a look at how an investment and gift in three leading cryptocurrencies at thattime would be worth now.

Related Link: Here's How Much $100 In Dogecoin Today Could Be Worth If DOGE Returns To All-Time Highs

Investing $100 in Bitcoin, Dogecoin, Ethereum:Heres how muchBitcoin, Dogecoin and Ethereum a $100 investment in each couldhave boughton May 8, 2022.

Bitcoin: .0028 BTC

Dogecoin: 781.25 DOGE

Ethereum: .0379 ETH

Investing $100 in each cryptocurrency last Mothers Day would be worth the following based on prices at the time of writing:

Bitcoin: $75.15

Dogecoin: $56.25

Ethereum: $68.39

A $300 gift consistingof thethree top cryptocurrencies would be worth $199.79 today, a decline of 33.4%.

While the decline is steep, it is actually an improvement over the 51% decline seen in the same three cryptocurrencies between Mothers Day 2020 andMothers Day 2021.

Those who bought their moms cryptocurrency for Mothers Day in 2020 would have a different story to tell.

A $100 investment each in Bitcoin, Dogecoin and Ethereum on Mothers Day 2020 would have been able to buy the following amounts and now be worth the following:

Bitcoin: 0.0104 BTC, $279.14

Dogecoin: 38,270.19 DOGE, $2,755.45

Ethereum: 0.4727 ETH, $852.99

Read Next: 2021 Was The Year Of Dogecoin, A Month By Month Retrospective With Top Stories

Photo: Shutterstock

Here is the original post:
If You Bought Your Mom $100 In Bitcoin, Dogecoin And Ethereum ... - Benzinga