Heatbit has introduced the Bitwater, a $899 retrofit device that converts compatible electric water heaters into bitcoin mining equipment. The device replaces the lower heating element with mining hardware, allowing homeowners to generate cryptocurrency while performing routine water heating.
The Bitwater contains 20 Bitmain BM1370 application-specific integrated circuit (ASIC) chips that perform Bitcoin's SHA-256 calculations while transferring heat into the surrounding water. The system produces up to 34 terahash per second (TH/s) at 600 watts of electricity consumption and operates without fans, requiring no active cooling.
Heatbit opened preorders on October 22, 2026, with the initial Genesis batch priced at $899. Subsequent batches will cost up to $1,299, with first deliveries scheduled for the first quarter of 2027. The device is designed to work with existing 30- to 80-gallon electric storage tanks fitted with standard screw-in ports. Gas, tankless, and heat-pump water heating systems are not supported.
Mining Economics and Installation
The device's 600-watt output is substantially lower than the 4,500-watt heating elements typically found in residential tanks, meaning water recovery will be slower during periods of high demand. The existing upper heating element remains operational to handle increased usage.
Heatbit estimates mining revenue between $1 and $1.25 daily under favorable conditions, potentially generating $365 to $455 annually. At the $899 purchase price, this suggests a theoretical payback period of approximately two to 2.5 years, though this calculation excludes installation costs and depends on fluctuating bitcoin prices and network mining difficulty.
The package includes a controller, leak sensor, installation hardware, and a powered titanium anode designed to reduce corrosion. Users can monitor temperatures, mining performance, and earnings through the company's application. The device defaults to solo mining but supports alternative mining pools.
Product Status and Background
Bitwater is currently in preorder with no independent long-term performance data or customer reviews available. Founded in 2020 by Alex Busarov, Heatbit previously developed mining-powered space heaters and air purifiers before expanding into water heating applications.
