Heatbit has spent the past few years selling space heaters and air purifiers that also mine bitcoin, earning a CES Innovation Award along the way and drawing reviews from outlets like Wired and The New York Times. The Delaware-based company, founded around 2020 by Alex Busarov, is now taking the same idea into the utility closet with Bitwater, a replacement heating element that screws into the electric water tanks already found in many households and uses bitcoin-mining chips to generate the heat.

According to Heatbit, Bitwater replaces the resistance wire in a standard electric water-heater element with twenty Bitmain BM1370 mining chips. The company advertises up to 34 terahashes per second (TH/s), power draw of up to 600 watts, and mining efficiency starting at 12 joules per terahash. Additionally, the tank water cools the chips directly, eliminating the need for noisy fans.

Heatbit says Bitwater fits most 30- to 80-gallon electric tank water heaters in the United States and Canada that use a compatible one-inch screw-in element port, including models from A. O. Smith, Rheem, Bradford White, Whirlpool, and GE. A companion app also shows water temperature, hashrate, and earnings, and bitcoin revenue generated through either pooled or solo mining go to an address the user controls. Refundable preorders for the first production run at a price of $899, with shipments targeted for the first quarter of 2027.

Of course, the key economic question is whether the $899 device can provide the same hot-water service at a lower effective lifetime cost than a conventional element.

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