Their great contribution? Mining equipment emits a lot of heat.
Kosala Hemachandra, founder and CEO of the cryptoactive storage platform, MyEtherWallet, was mining Bitcoin to pay his rent in Los Angeles between 2014 and 2015. When it was time to pay his bills, he converted his coins into cash to facilitate the transaction.
Bitcoin-accepting merchants praise the „zero return risk,“ says a BitPay report
In a conversation with Cointelegraph, Hemachandra recalled buying Bitcoin mining equipment at the university while renting a room at a friend’s house. „I bought a Bitcoin miner and then had him in my room,“ she told Cointelegraph in an interview. „I would mine it and the amount I earned through Bitcoin mining was enough to pay the rent for that room, so it was basically free, and then I didn’t have to pay for electricity anymore.
During Bitcoin’s early years, mining proved to be a much more profitable tactic that required less advanced equipment than it does today.
B3i Services AG announces the launch of several improvements to its digital solution „B3i Re“
However, it was not all fun and games. Hemachandra noted ominously that Bitcoin’s mining equipment gave off a lot of heat, making life in that room in Los Angeles a very hot experience. „It’s not as much fun as it sounds,“ she said, explaining that the San Fernando Valley, where she lived, frequently received outside temperatures close to 90 degrees Fahrenheit.
„Since I had a Bitcoin miner in my room, it goes beyond that, and then the air conditioning I had, it barely worked,“ he recalls. „I was barely able to keep it at a level where I could survive.
Bitcoin vs. USD: Only a weakening dollar will push BTC above USD 20,000
Many of the first to enter the Blockchain space express similar feelings, often involving stories of how they used their old digital assets in creative ways.