Hot water, cool chips: Heatbit’s $899 element mines Bitcoin while heating your tank

Heatbit has unveiled Bitwater, a $899 electric water-heater element that mines Bitcoin while heating water, according to the company’s Thursday post dated October 22, 2026. Refundable preorders for the first production run, which Heatbit calls its “Genesis batch,” are due to ship in the first quarter of 2027; later batches are priced at up to $1,299.

Bitwater replaces the resistance wire in a standard electric water heater element with 20 Bitcoin mining chips, so the heat they give off warms the water. “Same heat, same electricity, plus bitcoin,” Heatbit wrote, arguing that “the electricity was going to be spent on hot water anyway.” The company introduced the product with: “Introducing Bitwater: the water heater element that mines Bitcoin. It screws into the electric tank you already have. Physically decentralized mining that runs no matter what 🧵 Heat water. Mine Bitcoin. Same tank.”

The element uses 20 of Bitmain’s BM1370 chips and is rated at up to 34 terahashes per second, drawing up to 600 watts at an efficiency of 12 joules per terahash. Water cools the chips, so the element requires no fans and produces no noise, according to Heatbit. Installation is described as a do-it-yourself job: switch off the breaker, drain the tank, unscrew the old element and thread in Bitwater using an included wrench.

Bitwater fits the standard one-inch port on regular 30- to 80-gallon electric tanks in the U.S. and Canada, including units from A. O. Smith, Rheem, Bradford White, Whirlpool and GE, Heatbit said in a follow-up tweet. It requires no plumbing changes or new circuit. At up to 600 watts, it draws far less power than the 4,500-watt elements common in U.S. tanks; those elements heat water quickly and shut off, while Bitwater heats more slowly and runs longer. When demand spikes, the tank’s existing upper element still provides backup. An app tracks water temperature, hashrate and earnings, while users can choose between solo mining and joining a pool, with mined Bitcoin sent to an address they control.

Heatbit said it tested the element through the winter with households of four and five in New York and Florida, and teased a product for homes with gas water heaters. The company has not published its own earnings estimate, instead sharing a reply from xAI’s Grok chatbot that puts earnings at about $1 to $1.25 a day and notes that “estimates aren't guarantees.” That range is in line with Decrypt’s figures. At the current hashprice of about $36.73 per petahash per second per day, according to Hashrate Index, an element running at its full 34 TH/s would mine about $1.25 worth of Bitcoin a day, or roughly $455 a year. Heatbit says the element is built to run more than 80% of the time, and earnings would rise and fall with Bitcoin’s price and network difficulty. The company is pitching Bitwater as a way to spread Bitcoin mining across homes.