An Integrated Economic Model of Investments in Mining Heaters: Balancing Energy Costs, Revenue Streams, and Climate Goals
Alexander Shotov *
Aper.IT LLP, Almaty, Kazakhstan.
*Author to whom correspondence should be addressed.
Abstract
It develops and applies one integrated economic-mathematical model of investment in mining heaters that yield heat together with the revenue of cryptocurrency. Methodologically, this article employs a four-block study: (i) benchmarking the energy efficiency of compared devices; (ii) scenario-based techno-economic modeling relating dynamics in electricity tariffs to network difficulty in cryptocurrencies and value for carbon credits; (iii) systematic CAPEX/OPEX accounting, and iv) evidence synthesis from long-term PPAs and free-/liquid-cooling case studies. Novelty accrues by bringing together in one framework the taxation of electricity-tariff dynamics, network-difficulty-volatility for cryptocurrencies, and carbon-credit-valuation-all factors that meet across four methodological blocks related-ASIC efficiency benchmarking; scenario-based profitability analysis; CAPEX/OPEX synthesis; and evidence from long-term PPAs and free-cooling case studies. Therefore, this paper brings an investment efficiency assessment unifier between the comparison of CAPEX with OPEX under different climatic and market contexts whereby three complementary revenue streams are specified computational as well as thermal and carbon. At place-representative residential/commercial tariffs mining-heaters may best offset a very great share of heating with digital incomes converting almost all consumed electricity into useful heat by the path. Free-cooling and liquid-cooling strategies in cold regions significantly lower capital and operating requirements-on the order of 60-80% data-center cooling normally makes further net positive project economics-improving even more so because being compared applies a liability rather than an amount to be set off. Computational, thermal, and carbon revenues mitigate their own price cycle and seasonal demand swings through diversification. It gives a practical decision model for private investors, district-heating operators, and DER stakeholders to size, price, and de-risk mining-heater deployments under rising tariffs and tightened decarbonization targets whereby such systems are both economically-and climate-advantageous.
Keywords: Economic model, investments, mining‑heaters, electricity costs, CAPEX/OPEX, distributed energy, energy efficiency, profitability