A bathhouse in Brooklyn, known as BATHHOUSE, is using excess heat from its Bitcoin mining rigs to heat up its pools.
What Happened: Taking to Instagram (NASDAQ: META) on Wednesday, the spa shared a three-step process for how they were able to use the byproduct of Bitcoin mining to raise the temperature of their pools.
Their post read, "Enjoy a hot pool while supporting the Bitcoin network."
The first step in the process is mining Bitcoin, which involves using electricity for computing power and generating heat as a byproduct. From there, the excess heat emitted by the miners is then transmitted to heat exchangers.
In step two, these heat exchangers help to warm up BATHHOUSE's pools, with two of them being set to temperatures over 90 degrees Fahrenheit.
Finally, step three involves patrons simply enjoying a relaxing soak in the hot pool while also supporting the Bitcoin network. As the cooling liquid flows back to the miners, the process repeats forever.
The trendy Williamsburg spa, which opened in 2021, offers several amenities that include steam and sauna rooms, facials, massages, and a restaurant.
Why It Matters: Bitcoin mining is the process by which ASICs (Application-Specific Integrated Circuits) compete to solve a specific number, which is found approximately every ten minutes. Proof of work is the term used to refer to this process, and the miner who finds the solution to the algorithm receives Bitcoin as a reward for the energy and computing resources spent in the process.
Currently, the reward for each block is 6.25 BTC, although it is expected to be halved in the coming year.
Meanwhile, Bitcoin mining firm CleanSpark is taking its aggressive infrastructure expansion in the United States a notch higher through the acquisition of two Bitcoin mining facilities in a $9.3 million all-cash deal. The crypto mining firm aims to triple its current mining capacity to reach approximately 1.1 EH/s (exahashes per second), and this new acquisition is a step in that direction.
Price Action: At the time of writing, BTC was trading at $30,330.69, up 5.43% in the last 24 hours, according to Benzinga Pro.