How Tesla Equipment Helps This Nevada Man Mine Bitcoin

A Nevada-based independent Bitcoin BTC/USD miner has been mining blocks from his home using Tesla Inc TSLA solar panels and its Powerwall.

What Happened: In an explanatory thread on Twitter, Miner 4 Heat detailed how he optimizes energy costs while mining Bitcoin from his residence.

The miner explained that in Southern Nevada, the peak energy usage seen in the region’s 100-degree summer afternoons forces heavy utilization of air conditioners.

“Many utility locales have some sort of peak demand period that can be worked to the miners' advantage,” he said.

“To incentivize off-peak usage, an opt-in power plan is offered by the local utility. Instead of paying 11c/kwh at all times all year, rate become 6c/kwh at all times except for 1-7pm weekdays June-Sept where rate is 36c/kwh.”

Without solar power, he opts to shut down his Bitcoin miners during peak demand using home automation software. The addition of a Tesla solar panel system with a Powerwall battery backup helps him further optimize Net Meter billing.

See Also: This Electric Vehicle Mines Bitcoin, Ethereum And Dogecoin While Parked

Price Action: According to data from Benzinga Pro, Bitcoin was trading at $30,272 at press time, up 1.05% over the last 24 hours.

Posted In: Bitcoinbitcoin miningPowerwallsolar panelsCryptocurrencyNewsMarketsTech

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.