The emergence of digital or cryptographic currencies started in 2009 with the introduction of the now ubiquitous Bitcoin. Since that time interest in cryptocurrencies and in particular the underlying technology call the Blockchain has increased exponentially. Numerous new blockchain based cryptocurrencies have since been launched with the total market capitalisation of all crypto based assets raising from around 18 billion dollars at the beginning of 2017 to over 600 billion by the end of the year.

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Many blockchain networks are supported by computers with huge computing power. These computers run algorithms that solve the answer to complex cryptographic problems. This method of powering and securing the blockchain is called 'Proof of Work' or PoW. Many popular currencies utilise this method from the original Bitcoin to more recent entries like Ethereum, Litecoin and Zcash. 

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Inventable Technologies started researching these PoW machines in mid 2017. From our initial tests of GPU based PoW machines we have grown our mining efforts over the last many month. Cryptocurrency mining has proved to be highly profitable returning far in excess of the electrical cost of running the machine itself. 

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In addition to our more commercial machines we also spotted the benefit of using these machines as space heaters. Each 6 GPU mining rig uses around 800-850W of power continuously. This forms a very effective heater if placed in a living room. The problem was most mining rigs are open frame constructions that would look very out of place in a normal living environment. We set out to solve this problem and developed a dedicated frame & case that is designed to efficiently shed the heat generated internally. The gigamine concept was born with our first prototypes being installed in the autumn of 2017.

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In addition to the cryptocurrency payouts these machines produce, household heating bills can be reduced considerably. Matt lives in a three bed semi-detached house in Guildford and has two mining rigs in the family living space on the ground floor. Throughout the current winter the houses traditional heating system is now only used to provide a small amount of heat to the upstairs bedrooms for about an hour a day. No further heat is needed downstairs with the radiators shut off permanently.

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Anyone investing in cryptocurrency should proceed with their eyes wide open and should do their own research on the subject. It is our conviction that the future of cryptocurrencies is almost assured however this technology area is growing and developing so rapidly that the future of any one technology, product or currency is not guarantied.

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We have sold further rigs to initial customers who are very happy with their investment and the rigs stable operation.  We feel that these rigs make a compelling investment for anyone who wants to dip their toes into the world of cryptocurrencies. The added benefit of home heating may save hundreds of pounds per year.

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