His big takeaway? Mining rigs give off a lot of heat.
Kosala Hemachandra, founder and CEO of crypto asset storage platform, MyEtherWallet, mined Bitcoin as a way to pay his Los Angeles rent between 2014-2015. When it came time to pay his bills, he would convert his coins into cash to facilitate the actual transaction.
In conversation with Cointelegraph, Hemachandra reminisced about purchasing Bitcoin mining equipment in college while renting a room at his friend’s home. “I bought a Bitcoin miner and then I had it in my room,” he told Cointelegraph in an interview. “I was mining it and the amount that I earned through Bitcoin mining was enough to pay the rent for that room, so it was basically free, and then I did not have to pay extra for electricity.”
During the first several years of Bitcoin’s existence, mining proved to be a far more profitable gambit which required less advanced equipment than it does today.
It wasn’t all fun and games, however. Hemachandra noted ominously that Bitcoin mining equipment gives off significant heat, making life in that LA room a toasty experience. “It’s not as fun as it sounds,” he said, explaining that the San Fernando Valley where he lived frequently hosted outside temperatures near 90 degrees Fahrenheit.
“Since I’m running a Bitcoin miner in my room, it goes above that, and then the air conditioner I had, it was barely working,” he remembers. “It was barely able to keep it at a level that was survivable.”
Many early entrants to the Blockchain space echo similar sentiments, often involving stories of how they used their erstwhile digital assets in creative ways.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.