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How this exercise bike is generating backup power in war zones

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What would you do if you lived in a place where the power supply was constantly disrupted by war? How would you keep your phone, laptop, fridge, or TV running when the grid goes down?

That’s the dilemma that motivated an engineer to invent an exercise bike that can provide backup power in an emergency. His name is Jonas Navickas, and he is the CEO of Tukas EV, a Lithuanian startup that makes electric vehicles and energy storage solutions.

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Three exercise bikes in a room

Appalled by the situation in Ukraine, Jonas Navickas, the CEO of Lithuanian startup Tukas EV, invented exercise bikes that could harness human energy for crisis situations. (Tukas EV)

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How it all started

Navickas was appalled by the situation in Ukraine, where people had to share one power generator to charge their phones during the bombing of the country’s infrastructure. He realized that having access to electric energy is vital for one’s survival and comfort, especially in times of crisis. He also noticed that many people had exercise bikes at home, but they were not using them for anything other than fitness.

That’s when the lightbulb went off, and he came up with the idea of HR Bank, an exercise bike that captures the energy you produce while pedaling and stores it as a backup source of power for household devices and appliances.

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exercise bike aka HR Bank

An exercise bike has been invented to capture energy produced from pedaling. (Tukas EV)

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How it works

The HR Bank is basically a huge power bank with pedals and handlebars. It converts the kinetic energy produced by your legs into electricity, and then stores it in a 2kWh battery.

The HR Bank can be used as an external battery, charged from the sun or the grid, or as an independent power source, generated by pedaling.

It can power a TV for two days, a refrigerator for three days or charge many smaller devices for everyday use.

It can also be easily transported, adjusted to different heights and angles, and even turned into a workstation by attaching a desk.

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exercise bike placed in living room

The HR Bank has been able to generate enough power to charge a TV for two days. (Tukas EV)

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Who needs electricity from exercising?

The HR Bank is not only designed for those who need power during emergencies like natural disasters or wars, but also for urban dwellers who want to have a reliable source of clean energy.

Navickas believes that electric infrastructure is extremely fragile when faced with challenges from extreme events like war, and therefore, access to alternative energy sources becomes crucial to ensure one’s safety and well-being.

The HR Bank is currently available for pre-order on the company’s website, starting at around $3,100. Tukas EV plans to start shipping the product in early 2024.

Kurt’s key takeaways

The HR Bank is a pretty remarkable invention that combines fitness and energy production in one device. Although, it’s more than just an exercise bike – it can be a lifeline for many people in war torn areas. 

It also shows how human ingenuity can solve problems and create opportunities in extremely challenging situations like war. It also demonstrates how renewable energy sources can be integrated into our daily lives and reduce our dependence on fossil fuels.

How do you feel about the HR Bank as a solution for power outages and emergencies? Do you think it is worth the price and effort? Let us know by writing us at Cyberguy.com/Contact.

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Cathie Wood’s ARK sells Grayscale Bitcoin Trust shares as BTC hits $34K

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Investment firm ARK is selling Grayscale Bitcoin Trust (GBTC) shares amid a market surge fueled by anticipation of a spot BTC exchange-traded fund (ETF).

On Oct. 23, ARK — headed by pro-Bitcoin (BTC) investment veteran Cathie Wood — sold 100,739 GBTC shares ($2.5 million) from its ARK Next Generation Internet ETF (ARKW), according to a trade notification seen by Cointelegraph.

The transaction comes as GBTC touched multimonth highs, reaching $24.7 for the first time since May 2022. According to data from TradingView, GBTC has surged more than 200% year-to-date and is up nearly 30% over the past 30 days.

The GBTC sale marks ARK’s first officially reported GBTC transaction since November 2022, when the firm added 450,272 GBTC shares worth $4.5 million to ARKW.

The latest GBTC sale amount accounts for about 2% of all GBTC value in ARKW’s portfolio, or $122.6 million as of Oct. 23. GBTC is the largest asset held by ARKW, accounting for 10.4% of the product’s exposure, with Coinbase and Roku’s shares following with 9% and 7.4%, respectively.

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The ARK Next Generation Internet ETF’s top three holdings by weight. Source: ARK

According to Bitcoin advocate Samson Mow, ARK’s latest GBTC sale may be linked to the firm awaiting a decision from the United States Securities and Exchange Commission (SEC) regarding its filing to list a Bitcoin-based ETF. Grayscale filed a new BTC ETF registration statement with the SEC on Oct. 19, a few days after ARK amended its spot Bitcoin ETF filing on Oct. 11.

“It makes sense for ARK to sell GBTC now as the discount is getting lower and they have their own ETF filing pending,” Mow told Cointelegraph.

Related: Grayscale files for new spot Bitcoin ETF on NYSE Arca

Some online traders have also speculated that if ARK is approved for a spot Bitcoin ETF, the firm would likely put its ETF as the first holding in ARKW and dump GBTC.

ARK did not immediately respond to Cointelegraph’s request for comment.

Apart from selling GBTC, ARK also sold 32,158 Coinbase shares from ARKW and 10,455 Coinbase shares from its ARK Fintech Innovation fund for a total of $3.4 million. The investment firm has continued stacking Robinhood shares, adding 32,158 worth $300,000 to ARKW on Oct. 23.

Magazine: Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in