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Author Topic: Bitcoin mining at 20 cents per kwh  (Read 3017 times)
DrKennethNoisewater
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July 23, 2011, 03:07:22 AM
 #1

with 3.2 gigs

still profitable by approx $550/month at current bitcoin prices..................

and that's at .20/kwh

Yup, CA likes it anal style..............

DKN
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Kermee
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July 23, 2011, 06:36:33 AM
 #2

I salute you.

I never understood the folks who complained that power-consumption was the sole reason why they got out of mining.  Either their math was wrong or they weren't doing it right.

Assuming you're running at about 1.9 Mhps/Watt, that puts your average power-consumption at 1,750W (1.75kW) which is 1260kW per 30 days or $252 USD per month. 3.2 Ghps at current 1.69m difficulty @ $13.7 USD/btc is pretty close to $800/month.  That's how I'm guessing how you're close to $550/month.

Difference if your $/kWh was half of $0.20/kWh to $0.10/kWh...  Only a difference of $126 USD more in profit or $4.20 USD/day.

Difficulty would have to hit around 5m, if the exchange rate stayed flat, where you'd only break even.

Cheers,
Kermee

P.S. All calculations do not include power-costs that may be required in order to cool rigs, or may be negligible, or may be a fixed existing cost whether or not you're having to deal with heat generation of mining rigs.


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July 23, 2011, 08:30:52 AM
 #3

Assuming you're running at about 1.9 Mhps/Watt, that puts your average power-consumption at 1,750W (1.75kW) which is 1260kW per 30 days or $252 USD per month. 3.2 Ghps at current 1.69m difficulty @ $13.7 USD/btc is pretty close to $800/month.  That's how I'm guessing how you're close to $550/month.

An assumption about the 1.9Mhps/watt can only be made if running old hardware that's very difficult to obtain (5xxx series cards).

My set up: AMD 145 CPU, mATX mobo, 2Gb RAM, 30Gb SSD, 6950 (cannot unlock shaders any more).  330Mhash/s, slightly overclocked, RAM downclocked to half, fans at 25%, 80Plus PSU.  Using an accurate power meter it consumes 205 to 210 watts, depending on fan activity.  That's 4.75kWh per day, or 142.5kWh per 30 day month.  It produces around 0.2 BTC per day, and since I pay the equivalent of US 25c per kWh it costs me $1.19 to get $2.72 of income.  $1.53 per day.  Then take out income tax, which few people add to the calculations as they think they'll never get caught when miscellaneous USD$ appears in their accounts, and it's close to a dollar per day.  $30 per month on hardware that today costs about $350.  It's difficult to get excited.

If I could unlock the shaders or overclock further the calculation would be slightly more favourable, but power consumption goes up with hashing speed too.  Adding a second card to the PC is not that efficient as you gain by not doubling up on power consumption by the RAM/mobo/PSU, but you pay the penalty of the CPU now running at 100% due to dodgy OpenCL drivers.

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Xephan
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July 23, 2011, 08:43:08 AM
 #4

I salute you.

I never understood the folks who complained that power-consumption was the sole reason why they got out of mining.  Either their math was wrong or they weren't doing it right.

Or they are in places where per KW/h costs more. For example, mine's around US$0.27/KWh

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July 23, 2011, 09:38:34 AM
 #5

I salute you.

I never understood the folks who complained that power-consumption was the sole reason why they got out of mining.  Either their math was wrong or they weren't doing it right.

Or they are in places where per KW/h costs more. For example, mine's around US$0.27/KWh

+1
Around here we pay ~.38 US$/KWh

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Xephan
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July 23, 2011, 01:08:43 PM
 #6

I salute you.

I never understood the folks who complained that power-consumption was the sole reason why they got out of mining.  Either their math was wrong or they weren't doing it right.

Or they are in places where per KW/h costs more. For example, mine's around US$0.27/KWh

+1
Around here we pay ~.38 US$/KWh

Ouch, at that rate, I don't think mining is at all worthwhile for you right?

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Sukrim
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July 23, 2011, 01:21:17 PM
 #7

Ouch, at that rate, I don't think mining is at all worthwhile for you right?

Don't think, just calculate...

 Wink

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SmokeAndMirrors
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July 23, 2011, 01:27:01 PM
 #8

I salute you.

I never understood the folks who complained that power-consumption was the sole reason why they got out of mining.  Either their math was wrong or they weren't doing it right.

Or they are in places where per KW/h costs more. For example, mine's around US$0.27/KWh

+1
Around here we pay ~.38 US$/KWh

Ouch, at that rate, I don't think mining is at all worthwhile for you right?


at that rate, I don't even think it's worthwhile even using a fan or desk lamp. You need to seriously consider moving if you're paying .38 cents per KWh, regardless of if you're mining or not..

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Xephan
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July 23, 2011, 01:48:02 PM
 #9


at that rate, I don't even think it's worthwhile even using a fan or desk lamp. You need to seriously consider moving if you're paying .38 cents per KWh, regardless of if you're mining or not..

Moving isn't always that easy you know Cheesy
Otherwise, I wouldn't be in my country anymore.

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Xephan
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July 23, 2011, 01:49:25 PM
 #10

Ouch, at that rate, I don't think mining is at all worthwhile for you right?

Don't think, just calculate...

 Wink

Feeling too lazy Cheesy

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forexmasterja
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July 23, 2011, 02:12:21 PM
 #11

Those power costs are a joke - try .47 cents kwh out here in Jamaica.

Then everything not so 'IRIE MON'

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Littleshop
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July 23, 2011, 06:17:52 PM
 #12

Those power costs are a joke - try .47 cents kwh out here in Jamaica.

Then everything not so 'IRIE MON'
At that price solar becomes a viable option. 

DrKennethNoisewater
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July 23, 2011, 06:42:49 PM
 #13

WOW, and I thought I was getting gouged.............

Hopefully, BTC will rise in value and help alleviate some of the pain......................

Peace----

DKN

bigcoiner
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July 23, 2011, 09:11:51 PM
 #14

where in California are you getting .20/kwh.  I think the higher tier is like $.35/kwh.

and that's at .20/kwh
Yup, CA likes it anal style..............
bcpokey
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July 23, 2011, 09:59:10 PM
 #15

where in California are you getting .20/kwh.  I think the higher tier is like $.35/kwh.

and that's at .20/kwh
Yup, CA likes it anal style..............

That's just it, costs are tiered, the top tier is $0.40/kWh, but the tiers before are significantly lower. Depending on your consumption it could average out to $0.20 (they charge you tier 1 for the first xxx kwh, then tier 2 for the next xxxx kwh, then finally tier 3 for every kwh after that).
DrKennethNoisewater
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July 23, 2011, 10:35:55 PM
 #16

It starts at only .05 per kwh

But after u reach about $100 in total cost you move thru another tier before hitting the .20 mark and then higher, i'm sure I'll see it on the next bill.

I'll be over .20 per kwh for sure me thinks

I'll pass the info along when I get my next bill.............

DKN





checkmate
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July 24, 2011, 12:39:33 AM
 #17

I'm paying 0.28$/kWh... it's still profitable.

Donate if you plan to finance a future global-troll

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NetTecture
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July 24, 2011, 04:32:54 AM
 #18

The answer is simple. SCALE UP.

Where I am one pays up to 15 eurocents - around 20 USD cents per KWH all included.

Next week I start paying less than half. Industrial power. Need to take 16 computers full of cards to qualify Wink

 Try finding out how cheap your power provider goes when you actually run an energy intensive business. Tehre should be a decent deal, especially as you take base load - the same 24/7.
Xephan
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July 24, 2011, 06:02:17 AM
 #19

The answer is simple. SCALE UP.

Where I am one pays up to 15 eurocents - around 20 USD cents per KWH all included.

Next week I start paying less than half. Industrial power. Need to take 16 computers full of cards to qualify Wink

 Try finding out how cheap your power provider goes when you actually run an energy intensive business. Tehre should be a decent deal, especially as you take base load - the same 24/7.

Must be nice to live somewhere that charges you less as you use more electricity.
Here we need to pay for a contract to get industrial supply based on how much capacity is anticipated. If you exceed that, it's like 30~50% more penalty for the excess. THEN you get to pay for per unit used, as well as surcharge during peak periods -.-

It only make sense for us to mine here in residential zones.

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JoelKatz
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July 24, 2011, 06:26:44 AM
 #20

That's just it, costs are tiered, the top tier is $0.40/kWh, but the tiers before are significantly lower. Depending on your consumption it could average out to $0.20 (they charge you tier 1 for the first xxx kwh, then tier 2 for the next xxxx kwh, then finally tier 3 for every kwh after that).
If you average it out, you will get a deceptively low value. Yes, your average Kwh may cost you 23 cents. But if each additional Kwh costs you 40 cents, that's the number you should use when considering the profitability of mining.

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