As said by other users, there have been a bunch of threads made about this, a bunch of websites, etc, where you can calculate the cost of mining Bitcoin with different hardware pieces, different electrical costs, all those wonderful things.
And miners have worked out the cost, since they know how to make money off of it and manage to cover their costs. It's just a little math, nothing too major.
Topic: Anyone ever worked out the Electricity Cost alone of Bitcoin Mining??? (Read 4111 times)
May 06, 2016, 09:26:43 PM
May 06, 2016, 02:21:52 PM
there are over 1000 threads pertaining to this. USe hte seach.
May 06, 2016, 02:23:18 AM
Hi,
I live in Sweden in a house heated by electricity, and that was why I started mining. I have to purchase electricity even if I'm mining or not. In this way, electricity is free for me and I get back bitcoin. The large part of Swedish electricity is from renewable sources.
So I do not think I affect climate. I use electricity to two things at once.
And in the summer, I have solar panels that generate free electricity to all miners.
-snip-
Wow lucky. With free electricity, it's almost like you are getting 100% profit since most of the expense of mining is electricity and internet. Not everyone (of course) has the same opportunity as you.I live in Sweden in a house heated by electricity, and that was why I started mining. I have to purchase electricity even if I'm mining or not. In this way, electricity is free for me and I get back bitcoin. The large part of Swedish electricity is from renewable sources.
So I do not think I affect climate. I use electricity to two things at once.
And in the summer, I have solar panels that generate free electricity to all miners.
-snip-
That is not free electricity. He has to pay for it. I think heating is not required in Summer. So that can be regarded as a cost.
April 17, 2016, 02:34:46 PM
Hi,
I live in Sweden in a house heated by electricity, and that was why I started mining. I have to purchase electricity even if I'm mining or not. In this way, electricity is free for me and I get back bitcoin. The large part of Swedish electricity is from renewable sources.
So I do not think I affect climate. I use electricity to two things at once.
And in the summer, I have solar panels that generate free electricity to all miners.
-snip-
Wow lucky. With free electricity, it's almost like you are getting 100% profit since most of the expense of mining is electricity and internet. Not everyone (of course) has the same opportunity as you. I live in Sweden in a house heated by electricity, and that was why I started mining. I have to purchase electricity even if I'm mining or not. In this way, electricity is free for me and I get back bitcoin. The large part of Swedish electricity is from renewable sources.
So I do not think I affect climate. I use electricity to two things at once.
And in the summer, I have solar panels that generate free electricity to all miners.
-snip-
April 17, 2016, 04:59:24 AM
Hi,
I live in Sweden in a house heated by electricity, and that was why I started mining. I have to purchase electricity even if I'm mining or not. In this way, electricity is free for me and I get back bitcoin. The large part of Swedish electricity is from renewable sources.
So I do not think I affect climate. I use electricity to two things at once.
And in the summer, I have solar panels that generate free electricity to all miners.
http://scadainfo.se/pic/1265.jpg
I live in Sweden in a house heated by electricity, and that was why I started mining. I have to purchase electricity even if I'm mining or not. In this way, electricity is free for me and I get back bitcoin. The large part of Swedish electricity is from renewable sources.
So I do not think I affect climate. I use electricity to two things at once.
And in the summer, I have solar panels that generate free electricity to all miners.
http://scadainfo.se/pic/1265.jpg
April 09, 2016, 09:41:14 PM
it would work out to be pretty high i guess
March 31, 2016, 07:46:00 AM
But the conventional banking system would use more electricity to run their business. They waste more energy.
Conventional banks also process billions of payments per day, 4-5 orders of magnitude more than Bitcoin. Bitcoin energy consumption does not depend on the transactions, it depends on the bitcoin value. When bitcoin goes up, more miners consume more energy. March 31, 2016, 04:18:55 AM
Convert that into CO2-emissions and other environmental damage, and dollar for dollar you end up the same as mining for gold.
But the conventional banking system would use more electricity to run their business. They waste more energy.
March 30, 2016, 08:24:13 AM
[How do I move the power from the Sahara to the rest of the world?
Answer is you don't as it would be far too costly. The grid cost would be really high to set it up and really high to maintain it.
But it certainly could help people in Africa with their power needs.
Africa is big. Bringing power from the Sahara thousands of km away is very expensive and has tremendous losses in efficiency. It it would be cheap and easy, someone would have done it already.Answer is you don't as it would be far too costly. The grid cost would be really high to set it up and really high to maintain it.
But it certainly could help people in Africa with their power needs.
I am from Emirates, I want to know How much per unit current takes for 1 Unit or 1 KW. People around me, No one knows about bitcoins here. I use to do with 3 friends here. We use to do cloudmining only, If we wanna start at here. How much it will take as investment.
March 30, 2016, 08:20:55 AM
[How do I move the power from the Sahara to the rest of the world?
Answer is you don't as it would be far too costly. The grid cost would be really high to set it up and really high to maintain it.
But it certainly could help people in Africa with their power needs.
Africa is big. Bringing power from the Sahara thousands of km away is very expensive and has tremendous losses in efficiency. It it would be cheap and easy, someone would have done it already.Answer is you don't as it would be far too costly. The grid cost would be really high to set it up and really high to maintain it.
But it certainly could help people in Africa with their power needs.
I am from Emirates, I want to know How much per unit current takes for 1 Unit or 1 KW. People around me, No one knows about bitcoins here. I use to do with 3 friends here. We use to do cloudmining only, If we wanna start at here. How much it will take as investment.
March 29, 2016, 04:28:22 PM
[How do I move the power from the Sahara to the rest of the world?
Answer is you don't as it would be far too costly. The grid cost would be really high to set it up and really high to maintain it.
But it certainly could help people in Africa with their power needs.
Africa is big. Bringing power from the Sahara thousands of km away is very expensive and has tremendous losses in efficiency. It it would be cheap and easy, someone would have done it already. Answer is you don't as it would be far too costly. The grid cost would be really high to set it up and really high to maintain it.
But it certainly could help people in Africa with their power needs.
March 29, 2016, 03:34:42 PM
The problem is not how the power is used. The problem is how the power is generated. One tenth of the desert Sahara gets enough sun light to feed the whole world's energy requirement. That is absolutely green power.
How do I move the power from the Sahara to the rest of the world?
Answer is you don't as it would be far too costly. The grid cost would be really high to set it up and really high to maintain it.
But it certainly could help people in Africa with their power needs.
March 29, 2016, 01:54:04 AM
I am mining here in Belgium now for a couple of months...A friend is mining in France and Germany..Every country has his own electricity costs per hour KilowAtt.
How about the price for 1 unit of electric current charge at there bro. I think cloudmining best I guess to work instead of small scale work in mining.
March 28, 2016, 09:19:32 PM
I am mining here in Belgium now for a couple of months...A friend is mining in France and Germany..Every country has his own electricity costs per hour KilowAtt.
March 28, 2016, 01:12:41 AM
i didin't pay eletricity here, now i'm mining ETH with a 2 AMD 7970 Sharppire, some friends are sending his rings for me connect here, you hare tu find a place like here to put your machines.
ehm unless he live in that place, it would be risky for him to send miner to a stranger, personally i would not do it, no matter how cheap is the electricity
at best i could rent if it is profitable, to do so, butu usually the host guy charge the same profit he can make from mining, so it's pointless
March 27, 2016, 12:49:46 PM
Im pretty sure Ive seen the number 1.5M a day?
March 27, 2016, 12:36:34 PM
i didin't pay eletricity here, now i'm mining ETH with a 2 AMD 7970 Sharppire, some friends are sending his rings for me connect here, you hare tu find a place like here to put your machines.
March 27, 2016, 07:15:53 AM
is there a hostile environment in Sahara for solar panels ?
It is hostile for solar panels and for humans. High temperatures reduce the efficiency, sand storms will cover billions of square meters of solar panels in dust, no water, no infrastructure, no nothing. If it would be a nice environment people would live there. 
March 27, 2016, 07:05:00 AM
The problem is not how the power is used. The problem is how the power is generated. One tenth of the desert Sahara gets enough sun light to feed the whole world's energy requirement. That is absolutely green power.
It would be interesting to study the effect of such a proposal. Note that solar cells convert, on average, 1/6 of the energy they absorb into electricity with the remaining energy emitted as heat. Compare that with the albedo of the desert which reflects 2/5 to 3/5 of the sunlight back into space converting the rest to heat. If you cover the desert with solar panels, there would ne a net increase in solar absorption. Would this cause increased global warming or would this be offset by the reduced CO2 emissions from the reduction in use of hydrocarbons for fuel? Also, could we achieve a more favourable result using nuclear fission which has a much smaller footprint per MW than solar panels? I wonder who would fund such a study?
One tenth of the desert Sahara gets enough sun light to feed the whole world's energy requirement.
You need less than one tenth of the Sahara. This picture shows it:
It looks small, but down on the ground it needs endless arrays in a very hostile environment, in a very remote location.
March 27, 2016, 05:04:27 AM
One tenth of the desert Sahara gets enough sun light to feed the whole world's energy requirement.
You need less than one tenth of the Sahara. This picture shows it:It looks small, but down on the ground it needs endless arrays in a very hostile environment, in a very remote location.
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