Heatbit Sets First-Batch Bitcoin-Mining Heater Price at $899

Heatbit’s Bitwater device pairs Bitcoin (BTC) mining with electric water heating for a first-batch price of $899, with modeled proceeds taking about two years to match its cost at full output before other expenses. The device is designed for existing electric water heaters in the United States and Canada. It replaces the lower heating element and uses 20 mining chips, with a maximum output of 34 terahashes per second (TH/s) and power draw of 600 watts. A standard resistance heating element can draw 4,500 watts; Bitwater is designed to run longer at lower power.