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Author Topic: How much $ is spent in mining Bitcoin per day?  (Read 426 times)
puremage111
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September 17, 2017, 01:31:45 PM
 #1

Is there ways to calculate it?

According to : https://blockchain.info/charts/hash-rate

The Hashrate per second is 7,700,000 ~ 8,000,000 Terahash/second

With 12.5 Bitcoin/Block reward, 10 Minute Block Time , results 1800 BTC Mined/Day

Based on current price, around $6,500,000 ~ $7,000,000 in BTC is mined.

1) How could i calculate how much is spent in electricity / day?

2) Is the current Reward in Bitcoin - Electricity Price of mining = Positive profit?

Thanks





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September 17, 2017, 01:38:53 PM
 #2

I only know for certain that I personally invest about 1$ in BTC a day on average
Ive calculated that
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September 17, 2017, 01:42:48 PM
 #3

Is there ways to calculate it?

According to : https://blockchain.info/charts/hash-rate

The Hashrate per second is 7,700,000 ~ 8,000,000 Terahash/second

With 12.5 Bitcoin/Block reward, 10 Minute Block Time , results 1800 BTC Mined/Day

Based on current price, around $6,500,000 ~ $7,000,000 in BTC is mined.

1) How could i calculate how much is spent in electricity / day?

2) Is the current Reward in Bitcoin - Electricity Price of mining = Positive profit?

Thanks

Hey,

It is impossible to know the exact costs of the electricity that is used daily for bitcoin mining, since the electricity rates are different in every country and even within a country there are different rates. You can estimate it by taking the avarage cost for electricty for each country and multiply it by the total hashrate that country has. Do this for every country that mines btc and add all values together and you will have your answer.

Regards,

FruitsBasket

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puremage111
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September 17, 2017, 01:45:41 PM
 #4

Is there ways to calculate it?

According to : https://blockchain.info/charts/hash-rate

The Hashrate per second is 7,700,000 ~ 8,000,000 Terahash/second

With 12.5 Bitcoin/Block reward, 10 Minute Block Time , results 1800 BTC Mined/Day

Based on current price, around $6,500,000 ~ $7,000,000 in BTC is mined.

1) How could i calculate how much is spent in electricity / day?

2) Is the current Reward in Bitcoin - Electricity Price of mining = Positive profit?

Thanks

Hey,

It is impossible to know the exact costs of the electricity that is used daily for bitcoin mining, since the electricity rates are different in every country and even within a country there are different rates. You can estimate it by taking the avarage cost for electricty for each country and multiply it by the total hashrate that country has. Do this for every country that mines btc and add all values together and you will have your answer.

Regards,

FruitsBasket

Lets take $0.05 $/kwh

What would be the calculation here?

Total Hash Rate / Mining Rigs amount * Mining Rig electricity per day?





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Slow death
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September 17, 2017, 02:13:59 PM
 #5

Is there ways to calculate it?

According to : https://blockchain.info/charts/hash-rate

The Hashrate per second is 7,700,000 ~ 8,000,000 Terahash/second

With 12.5 Bitcoin/Block reward, 10 Minute Block Time , results 1800 BTC Mined/Day

Based on current price, around $6,500,000 ~ $7,000,000 in BTC is mined.

1) How could i calculate how much is spent in electricity / day?

2) Is the current Reward in Bitcoin - Electricity Price of mining = Positive profit?

Thanks


here https://www.cryptocompare.com/mining/calculator/btc?HashingPower=4730&HashingUnit=GH%2Fs&PowerConsumption=1293&CostPerkWh=0.12

you can get your doubts, if you have any doubts go to the bitcoins mining section



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September 17, 2017, 03:01:44 PM
 #6

Is there ways to calculate it?

According to : https://blockchain.info/charts/hash-rate

The Hashrate per second is 7,700,000 ~ 8,000,000 Terahash/second

With 12.5 Bitcoin/Block reward, 10 Minute Block Time , results 1800 BTC Mined/Day

Based on current price, around $6,500,000 ~ $7,000,000 in BTC is mined.

1) How could i calculate how much is spent in electricity / day?

2) Is the current Reward in Bitcoin - Electricity Price of mining = Positive profit?

Thanks


If you don't count the costs of hardware, yes that would be the profit. I'd say maybe it's half the reward, so $3-4m a day.
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