Here's my calculation.
At $100/BTC, mining reward = 25 BTC per block * 6 blocks per hour * $100/BTC = $1500 per hour
Assumption: 50% of this will be spent on electricity, and the remaining 50% on paying off mining hardware, profit, etc.
=> $750/hour spent on electricity
= 5000 kWh/h, @ 15 cents per kWh
i.e. power @ $100/BTC = 5MW
Hence
power @ $1000/BTC = 50MW
power @ $10,000/BTC = 500MW (a nuclear reactor)
Topic: 2013-04-14 Bitcoin Miners Are Racking Up $150,000 A Day In Power Consumption... - page 2. (Read 2413 times)
April 14, 2013, 04:22:57 PM
April 14, 2013, 12:10:49 AM
http://techcrunch.com/2013/04/13/the-cost-of-a-bitcoin
Quote
There’s a gold rush going on these days, or a Bitcoin rush, at least. Driven by the recent swings in the value of a Bitcoin, more and more people are learning about and becoming interested in the currency. While they could just buy Bitcoins at the current market rate, others are looking to try their luck at mining Bitcoins. And like prospectors who traveled west during the Gold Rush of the 19th century, many Bitcoin miners will find that they spend more on chasing the Bitcoin dream than they’ll ever hope to win back.
Jump to: