New Layer Capital is pleased to announce our participation in Hestiia’s seed round led by NOIA Capital.
Hestiia aims to simultaneously heat one’s home and offset electricity costs by mining Bitcoin. The Hestiia product – Sato boiler – does this by leveraging ASIC mining rigs for heat production in an integrated home boiler system.
ASICs require electricity to generate ‘hashes’ that help secure the Bitcoin Protocol. Miners are rewarded bitcoin for producing hashes – which is a double benefit by providing them revenue in the form of cryptocurrency. As per Hestiia, this means that without using any extra energy to heat your home or make hot water, you can earn bitcoin.
This investment fits well with New Layer Capital’s thesis to invest at the intersection of blockchain, energy and sustainability.
For more details on Hestiia and its Sato boiler, see:
https://news.bitcoin.com/wisemining-sato-boiler-product-heat-your-home-offset-costs-mining-bitcoin/