Dayton Engineer

Bitcoin could be an important feature in an ever-growing digital world, or at least University of Dayton engineering student, Devon Florczak, thinks. However, naysayers of the growing technology point to the amount of energy bitcoin consumes, which some say is almost the same as the country of Ireland. 

Florczak and his company, Bitbox Solutions, which also includes UD engineering students Ivan Kalnoki-Kis and Abinesh Selvacanabady and UD engineering professor Dr. Kevin Hallinan in an advisory role, are looking to change the stigma around the peer-to-peer electronic cash system — from a potential energy “wasting” utility to a renewably sound utility. 

Bitbox Solutions are attempting to take the energy outputted from devices that power the Bitcoin network, often called mining computers such as Bitmain’s Antminers, and reuse it in a sustainable manner. The team has plans to create an apparatus that converts outputted heat from the mining computers into reusable energy, such as space or water heating for homes or buildings, or to even convert a portion back into electricity. They believe they can even grow food from the otherwise wasted energy and are also actively seeking other similar, sustainable use cases. The team furthermore believes they will be able to lower Bitcoin mining electricity costs 10-20 percent while retaining the same level of profitability from mining fees through supporting the Bitcoin network. 

Bitbox Solutions recently accepted a fellowship partnership with Leonardo Enterprises, a business incubator and investment program at the School of Engineering, that serves all University of Dayton students, faculty and staff who want to start their own technology-based business. Through support via Leonardo Enterprises and the School of Engineering, Bitbox Solutions hopes to bridge the gap between Bitcoin and sustainability.