A Brooklyn-based bathhouse and spa, Bathouse, recently garnered attention after it disclosed that it had been using a small-scale Bitcoin (BTC) mining operation to heat its swimming pools. According to an Instagram post, the bathhouse transfers heat generated from Bitcoin mining rigs to warm its pools, further utilizing the water in a return process to cool the hardware.
Bathouse, which also accepts Bitcoin payments, claims that its unique heating solution demonstrates the viability of implementing Bitcoin mining into other heating applications. After launching the sophisticated heating operation in March 2022, the company received reactions that were mixed at best.
While some have criticized the move due to concerns about the environmental impact of Bitcoin mining, others have praised the innovation and supported the company’s pursuit of alternatives. A report by The Guardian indicates that carbon dioxide emissions from Bitcoin mining are comparable to those of the entire country of Greece. Data from Earthjustice.org also shows that from mid-2021 to mid-2022, Bitcoin consumed as much electricity as Maine, New Hampshire, Vermont, and Rhode Island combined.
Numerous critics have cited environmental concerns, with one Instagram user hoping the revelation was merely a “poorly-conceived joke.” Some have expressed concerns about the lack of transparency in terms of who mines the cryptocurrency and who profits from it. However, Bitcoin enthusiasts such as Bradley Rettler, a “bitcoin philosopher” from the group Resistance Money, thanked Bathouse for “securing the network” and “bringing financial freedom to people while you heat your pools!”
Meanwhile, in Venezuela, the crypto mining industry faces another obstacle as the state’s halt on cryptocurrency mining enters its third month. Regulators ordered the cessation of cryptocurrency mining following an investigation into a corruption scheme involving misdirected payments from state-run oil company Petróleos de Venezuela. Consequently, more miners could be forced to sell their rigs and shut down permanently.
In addition to Venezuela, crypto miners worldwide continue to grapple with plummeting Bitcoin prices and ever-increasing electrical costs. Companies such as Core Scientific, Argo Blockchain, Iris Energy, and Greenidge Generation are among the more prominent Bitcoin mining companies experiencing financial difficulties.
In conclusion, while Bathouse’s unique method of heating its pools with Bitcoin mining byproduct energy sparks concern for the environment, it also highlights the potential for innovative solutions to capitalize on the unconventional properties of blockchain technology. The heated debate surrounding Bathouse’s mining operations ultimately underscores the complexities that this rapidly evolving space continues to present.
Source: Cryptonews
