Bitcoin Mining’s Electricity Bill: Is It Worth It?

HydroMiner

Bitcoin mining with hydro power. Using hydro power stations in the Alps region, we reach one of the lowest prices per kilo Watt in Europe. In fact, our cost of electricity is currently 85% lower than the average in Europe.
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Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals submitted by maxwellhill to science [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

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Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals submitted by maxwellhill to Futurology [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals submitted by BrodieDigg to Silverbugs [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals submitted by maxwellhill to energy [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals • r/science . Calling all cryptobros to defend this worthless shit

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Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals submitted by sirboozebum to neoliberal [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

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Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals submitted by nbhatt_10 to u/nbhatt_10 [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals submitted by Kunphen to Astuff [link] [comments]

Bitcoin mentioned around Reddit: Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals /r/science

Bitcoin mentioned around Reddit: Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals /science submitted by cryptoallbot to cryptoall [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals submitted by Kunphen to EcoNewsNetwork [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

This is the best tl;dr I could make, original reduced by 57%. (I'm a bot)
The amount of energy required to "Mine" one dollar's worth of bitcoin is more than twice that required to mine the same value of copper, gold or platinum, according to a new paper, suggesting that the virtual work that underpins bitcoin, ethereum and similar projects is more similar to real mining than anyone intended.
One dollar's worth of bitcoin takes about 17 megajoules of energy to mine, according to researchers from the Oak Ridge Institute in Cincinnati, Ohio, compared with four, five and seven megajoules for copper, gold and platinum.
All the cryptocurrencies examined come off well compared with aluminium, which takes an astonishing 122MJ to mine one dollar's worth of ore.
The new paper is the first to look at the mining efforts from the point of view of energy cost per dollar benefit.
"The comparison is made to quantify and contextualise the decentralised energy demand that the mining of these cryptocurrencies requires," the authors write, "And to encourage debate on whether these energy demands are both sustainable and appropriate given the product that results from relatively similar energy consumption."
To account for the wild fluctuations in cryptocurrency price, and therefore effort expended by miners, the researchers used a median of all the values between 1 January 2016 and 30 June 2018, and attempted to account for the geographic dispersal of bitcoin miners.
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Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals - r/science

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals - science submitted by mappersdelight to Linky_links [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals submitted by unremovable to unremovable [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals submitted by unremovable to unremovable [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals - November 05, 2018 at 08:51PM

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals - November 05, 2018 at 08:51PM submitted by JTTBot to JustTheTopNews [link] [comments]

Bitcoin mentioned around Reddit: Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals /r/science

Bitcoin mentioned around Reddit: Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals /science submitted by SimilarAdvantage to BitcoinAll [link] [comments]

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals submitted by KellyfromLeedsUK to BreakingNews24hr [link] [comments]

Do you think most miners are still profitable after the recent price drops? Data from TokenInsight shows that some efficient miners incur an electricity cost of $1,400 per bitcoin mined.

Do you think most miners are still profitable after the recent price drops? Data from TokenInsight shows that some efficient miners incur an electricity cost of $1,400 per bitcoin mined. submitted by johnleequigley1 to BitcoinMining [link] [comments]

One Bitcoin mining cost per country based on electricity bill

One Bitcoin mining cost per country based on electricity bill submitted by BrunoCerqueira to CryptoCurrencies [link] [comments]

Just how much energy is Bitcoin using? How Much Electricity Required For A Single Bitcoin Mining ? Top 5 Bitcoin Mining vebsites Payment Proof  Daily mining 0.05 Btc, live proof, Free bitcoin 2020. Bitcoin Energy Consumption: An Inside Look HOLY $H!T $2,250 Electricity Bill!

(Price per KWh * Electricity consumed per transaction * number of transactions per block) / Bitcoins per Block . This gave us a price in cents so we divided by further 100 to get a price in US dollars. The map was created using MapChart.net. List of Electricity Cost Of Mining One Bitcoin By Country Considering the cost to mine Bitcoin for both big mining centers and individual miners can range in between $5,000 and $8,500, miners have more incentive to sell to cover operational costs rather The Bitcoin network currently consumes about 2.55 gigawatts (GW) of electricity per year; to put that into perspective, the entire country of Ireland has an average electricity consumption of 3.1... Hash Rate: It is the total hash power of the bitcoin mining devices used for bitcoin mining and it is represented in TH/s which means Trillions Hash generated per second.For example, Bitmain Antminer S19 Pro mining hardware has a Hash Rate of 110TH/s. Power Consumption: Power Consumption refers to the total power consumption of the mining devices used for bitcoin mining. The Cost of Mining Bitcoin. As of the Summer of 2018, in Venezuela, because the electricity is so expensive, it only cost about $531 to mine one Bitcoin. But in South Korea, you’re going to have to shell out over $26,000 to get yourself one Bitcoin. Keep in mind that as of September 21, 2018, one Bitcoin is only worth $6,786.

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Just how much energy is Bitcoin using?

The cost of electricity would be = (0.0475 x 2,520 x 24) = $ 2.87 / day So Daily Digging Profit = Revenue - Costs = $ 32.1 - $ 2.87 = $ 29.23 = 0.211 BTCV / day - Electricity cost 3. The profits of mining bitcoin - In 2015, some bitcoin farms got up to 100 bitcoins per day: but their electricity bill was around 80k per month bitcoin mining electricity cost bitcoin mining energy consumption bitcoin mining end date ... We Share Abundance Review How to earn $5 per day in 5 min per day at weshareabundance.com - Duration: ... The electricity required for a single Bitcoin trade could power a house for a whole month. Bitcoin transactions use so much energy that the electricity used for a single trade could power a home ... Bitcoin Q&A: Mining, energy prices, and fee market - Duration: 16:05. aantonop 10,528 views. 16:05. Mix Play all Mix - Off Chain with Jimmy Song YouTube; Bitcoin ...

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