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Title: what is the estimated power consumption of the entire network? Post by: koryu on April 29, 2014, 11:06:39 AM i am doing some calculations and i wonder what the total power consumption for the entire bitcoin mining is.
we are currently at 50,000,000 gh/s. i read that the most efficient miners mine at 0.7-1.1 watt per hour per gh. i think with decent cooling you need at least 1 watt. that would be a minimum of 50,000kw/h. did i make any mistake in my calculation? what do you think is the average watt per gh of the current network / the total power consumption? thx in advance :) Title: Re: what is the estimated power consumption of the entire network? Post by: imamanandyou on April 29, 2014, 11:12:49 AM I expect most of the old ASIC still hashing with effeciency 5-10Wh for gh/s
So most optimistic would be 100,000 KW/h. Title: Re: what is the estimated power consumption of the entire network? Post by: koryu on April 29, 2014, 11:19:52 AM I expect most of the old ASIC still hashing with effeciency 5-10Wh for gh/s So most optimistic would be 100,000 KW/h. yes, imo miners are shut down when the electricity cost is higher than the generated btc amount. i am just calculating what the maximum profitable W/gh is. but its a bit difficult because it also depends on the electricity cost on different locations and btc's value. anyway its possible to calculate a maximum and minimum total consumption. /edit: my calculation for maximum profitable w/gh for different electricity cost (setting btc price as constant 440$) : _______________________________________
a maxmimum total power consumption (when all miners would run at 6.6 W/GH) is 330,000 kW/h so the network should run between 50,000-330,000 kW/h. hope i didnt make any mistake in the table ::) Title: Re: what is the estimated power consumption of the entire network? Post by: davejh on May 02, 2014, 09:50:43 AM i am doing some calculations and i wonder what the total power consumption for the entire bitcoin mining is. we are currently at 50,000,000 gh/s. i read that the most efficient miners mine at 0.7-1.1 watt per hour per gh. i think with decent cooling you need at least 1 watt. that would be a minimum of 50,000kw/h. did i make any mistake in my calculation? what do you think is the average watt per gh of the current network / the total power consumption? thx in advance :) Your calculation gives the amount of power for one hour of operation. For the daily power you need to multiply by 24. I think your numbers are probably too optimistic too. The hashing rate is now closer to 60 PH/s and while the newer hardware is very efficient there's a lot of older hardware that is less so. I've been trying to come up with some good estimates (I've guessed at closer to 1.5 W/GH/s) because the energy costs have a pretty significant impact on the viability of mining and the amount of money that gets freed up from the block rewards to pay for next generation hardware (http://hashingit.com/13-megawatts-of-mining) |