Ferrofluid heating by an external alternating field is studied based on the rigid dipole model, where the magnetization of each particle in a fluid is supposed to be firmly fixed in the crystal lattice. Equations of motion, employing Newton's second law for rotational motion, the condition of rigid body rotation, and the assumption that the friction torque is proportional to angular velocity are used. This oversimplification permits us to expand the model easily: to take into account the thermal noise and interparticle interaction that allows us to estimate from unified positions the role of thermal activation and dipole interaction in the heating process. Our studies are conducted in three stages. The exact expressions for the average power loss of a single particle are obtained within the dynamical approximation. Then, in the stochastic case, the power loss of a single particle is estimated analytically using the Fokker-Planck equation and numerically using the effective Langevin equation. Finally, the power loss for the particle ensemble is obtained using the molecular dynamics method. Here, the local dipole fields are calculated approximately based on the Barnes-Hut algorithm. The revealed trends in the behavior of both a single particle and the particle ensemble suggest the way of choosing the conditions for obtaining the maximum heating efficiency. The competitiveness character of the interparticle interaction and thermal noise is investigated in detail. Two situations, when the thermal noise rectifies the power loss reduction caused by the interaction, are described. The first of them is related to the complete destruction of dense clusters at high noise intensity. The second one originates from the rare switching of the particles in clusters due to thermal activation, when the noise intensity is relatively weak. In this way, the constructive role of noise appears in the system.