This thread was completely theoretical. I just wanted some opinion on the feasibility of this since I don't quite understand electronics and electrical engineering. Hopefully some day TEGs will be efficient enough that this could be feasible. Or miners can be made more efficiently to draw less power and produce less heat.
No.
This thread is insufficiently theoretical. It is a classic example of preying on the uneducated and undereducated. If I remember correctly the 2nd law of thermodynamics is taught in decent schools around 8-9 grade. So anyone who would fall for it has a mental capacity of approximately 15 years old high-school student.
Since 1824 the theoretical limit of efficiency of any theoretically ideal heat engine is well known:
http://en.wikipedia.org/wiki/Carnot%27s_theorem_(thermodynamics)So assuming the hot side at the temperature of boiling water (371K) and the cold side at the room temperature (300K) one gets the theoretical unattainable efficiency of about 20%.
The only progress that can really occur is in education.