Is Bitcoin Mining Energy Theft?

Is Bitcoin Mining Energy Theft?

Is Bitcoin Mining Energy Theft?

bitcoin

Energy Monitoring Made Easy

 

What Defines an Acceptable Amount of Energy Usage?

Is Bitcoin mining energy theft when the burden of paying the electric bill typically falls to the landlord?  When a tenant decides to set up a Bitcoin mining operation the electricity bill can skyrocket. This is why landlords should monitor tenant electricity usage. If you’re a landlord then you understand how costly it can be to provide power for your tenants. Most landlords set the rent amount based on “typical” electricity usage and they tend to have a clause in the rent agreement that requires an additional fee if the tenant installs an air conditioner (another energy hog).

With cryptocurrency prices rising each year and the general excitement of a new “currency” it is no wonder that so many people are joining the Bitcoin mining craze. This is especially true if the electricity required will be paid by someone else. It seems unfair that the landlord should foot the bill simply because they didn’t better define the rules around what is an “acceptable electricity usage” amount.

The Unexpected Cost of Mining Cryptocurrency

 If the electricity bill increase is minimal then it’s unlikely that the landlord will notice, but a single computer running full speed 24 hours per day 7 days per week can easily run up $1000/year in additional costs for the landlord. That doesn’t even factor in the extra air conditioner costs in the summer to remove the heat the computer generates. Now imagine that the tenant has several computers in their Bitcoin mining operation!  Using some easy numbers, if we assume that a single computer power supply consumes 1000W and the average cost of electricity is $0.20/kWh that works out to $4.80/day and $1,752/year!

It’s unfortunate these days that a tenant can easily use a massive amount of electricity with impunity. Electricity theft has almost become an epidemic! Monitoring tenant electricity usage is a great way for landlords to save money, and ensure that they don’t fall victim to energy theft. Many tenants are misusing electricity and it’s hard to catch them. 

Energy Monitoring Solutions for Landlords

Fortunately for landlords in this situation there is a simple solution. The first step is to install an Eyedro Electricity Monitor on each of your tenants’ electricity feeds.  Typically, there is a main electrical panel in the building that has a separate breaker for each tenant so installing a sensor for each tenant is simple. Although installation can be inside the tenant’s unit it is easiest to install in the main electrical room for the building. We suggest configuring the MyEyedro monitoring service so that each tenant can see their own electricity usage at any time. It certainly removes any question about usage because the tenant can easily turn their appliances and lights on/off and see the results in real-time. Finally, it is a good idea to update rent agreements to clarify what is considered “acceptable electricity usage” vs what crosses the line and may require an additional fee. This last point is better left to the lawyers but you get the idea.

If you’re a landlord and have experienced “energy theft” from a tenant we’d love to hear your story. 

Give us a call and we will help you select the electricity monitoring solution that is right for you!

Want to Learn More?

Contact us today to set up a free demo of the Eyedro system, and let a member of our team walk you through the entire process.

888-440-7610

Why a Homeowner Should Monitor Their Electricity Usage

Why a Homeowner Should Monitor Their Electricity Usage

Why a Homeowner Should Monitor Their Electricity Usage

Some benefits of monitoring your electricity usage:

Electricity bills are a significant part of any household’s monthly expenses, but people make little to no effort to manage them. This is because it is thought of as an entity that just can’t be managed. However, this isn’t true.

You can monitor your electricity usage and manage it. In fact, over a longer period it will be beneficial for you.

Consumption Awareness

When you install an Eyedro energy monitor in your home, you will become more aware of how you are consuming electricity.

Keep an eye on your data wherever you are with Eyedro’s full featured MyEyedro cloud software.

In this way, you can keep track of your daily consumption to better understand your expenses.  You’ll also get an understanding of which of your appliances and devices consume the most energy.

Energy-Efficient Alternatives

Once you have your daily numbers, you can begin to gauge how much usage is necessary. Based on that, you can plan and keep the usage of certain pieces of equipment to a minimum.  For example, you may want to run large energy consumers like dryers and ovens during off-peak hours if you are charged time-of-use energy rates.

You’ll also know which devices are consuming way more electricity than they should. This can help you switch to better options that are more energy efficient. As a result, you’ll save a significant amount of money.

Eco-friendly Habits

When you minimize your electricity consumption and switch to energy-saving options, you automatically become more mindful of your environment. You can reduce your carbon footprint and create an eco-friendly energy consumption pattern for your home.

Conclusion

Energy consumption monitors are seen as an additional expense in any household. People think about how much money will be spent buying and maintaining one and thus choose not to purchase it.  Good news! Once your Eyedro is installed it is virtually maintenance free.

However, what they don’t realize is how much money can be saved with an energy monitor. It significantly brings down your monthly electricity bill.

Besides helping you save money, energy monitors bring a significant change to your mindset. You learn to save energy, understand the effect your equipment has on the environment, and curb its usage. In the end, these things make you follow a more mindful and healthier lifestyle.

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Shocked by Your Energy Bill? Reduce it With an Eyedro Home Energy Monitor

Shocked by Your Energy Bill? Reduce it With an Eyedro Home Energy Monitor

Eyedro Home Energy Monitors  

 

Energy Monitoring is like watching your weight if you don’t track what you eat on a daily basis and see how on paper how much you’re taking in you can’t cut your weight or in this case cut down on your energy bill. The Easiest way to start saving is with an Eyedro Home Energy Monitor. 

 

An Eyedro Home Energy Monitor is your best option to help you identify what is wasting the most energy in your home.  The Eyedro EHEM1-LV is the economical solution that will allow you to make practical, data-driven changes that will help you cut down on your energy usage. 

 

MyEyedro Compare Plugin

MyEyedro Compare Plugin

 

Features:

  • Easy Installation
  • The EHEM1-LV can Identify Power Hogs 
  • Compare your home energy usage with previous months to see how much you’re actually saving
  • Real Time Energy Data – instantly see when you turn a light or appliance on or off
  • Free Monitoring with MyEyedro cloud Software

 Within a few months of saving energy, you’ll see that your Eyedro will have paid for itself and you’ll be helping the environment as well! 

 

Eyedro Energy Monitor EHEM1-LV

Eyedro Home Energy Monitor EHEM1-LV – $129 USD

 

An Ethernet Connected Home Energy Monitor that is easy to install. Once connected to MyEyedro to provide you with a better sense of your energy usage so you can start to save money right away.  MyEyedro cloud software is included with no subscription fee.  The EHEM1-LV includes a Module, Two  Current Sensors, a 10ft Ethernet Cable, and a 120V North American Power Adapter.

 

The Eyedro EHEM1-LV, your economical solution to shocking energy bills!

 

All Eyedro products meet North American Safety Standards and are helping to create a greener energy environment. For more information on the rest of our product line Click Here.

CEC Title 24 – Adding PV and the NETZERO BUILDER

CEC Title 24 – Adding PV and the NETZERO BUILDER

CEC Title 24 – Adding PV and the NETZERO BUILDER

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California Energy Commission Title 24

 

 

EYEFI-4 model shown – installs in under 10 minutes!

Eyedro EYEFI-4 solar ready energy monitor
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Benefits of monitoring with Eyedro?

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  • Easy to use Installer’s App – keeps it simple

  • Commercial, Institutional and Residential models

  • Measure and Display PF, Voltage, Current, Power

  • Track kW generated with Solar panels (Tier 1)

  • Identify major loads and base load

  • Get Alerts when system is off-line

  • Software is always included – no monthly fees

 

Eyedro Net Metering Example:

MyEyedro Net Meter View

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MyEyedro Live Demand View

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Product Features:

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Real-Time web interface – (MyEyedro.com) on any modern browser, incl

Live and Summary view – See power usage and cost streaming in real-time

Bill view – See estimate of electrical bill for current and historical billing periods for any day of the month

Sensor options – 5Amp – 3000Amp, +/- 1%

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Managed Services include:

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Manage multiple systems – Add any number of devices to your account.

Manage multiple sites – Add a number of buildings to your account and assign devices to any sites.

Reports – Have configurable reports delivered directly to your inbox at configurable intervals.

Alerts – Be notified of power or network failures, if demand or consumption exceeds thresholds (above or below), and more.

Custom web interfaces – Have your company Branded on the web interfaces and custom URLs are available.

API – Integrate measurement data into your own Dashboard with our Application Programming Interface

Export – Data can be exported from any point in time into CSV for further analysis

120V / 60Hz and 230V / 50Hz models available

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Eyedro Energy Monitoring Solutions

Eyedro Energy Monitoring Solutions

Energy Monitoring Solutions for Home and Business

  • Eyedro Energy Monitors for residential and business/commercial applications.

  • Real-time data is available at your fingertips via the MyEyedro cloud based software.

  • MyEyedro access is included with your Eyedro hardware purchase with NO SUBSCRIPTION fee!

How to Export to Excel from MyEyedro

How to Export to Excel from MyEyedro

export to excel csv from myeyedro

Your Energy Data – How to Export to Excel

 

Did you know? It is possible to easily export to Excel by following 3 easy steps:

After logging into MyEyedro:

  1. Click on the Gear (top right) → Click on Devices. Under DETAILS FOR: Home (or desired Display Group) → Click on Export.
  2. Simply choose the timeline of data you want (preselected or by date range), your data-type e.g. Daily and then → Click on Export.
  3. A CSV File will be created, and you will be able to view your data in a spreadsheet.
export myeyedro data to excel

Export your data to Excel

Bookmark this information from our User Guide

For more information on Home Energy Monitoring please visit Eyedro