Topic: Can someone please explain hashrate calculations in bitcoin mining? (Read 116 times)
February 20, 2023, 06:09:30 AM
The energy consumption of bitcoin mining is calculated by determining the total amount of energy used by the miners to solve the complex mathematical equations required to validate bitcoin transactions and add new blocks to the blockchain. This energy consumption is typically measured in terms of kilowatt-hours (kWh), which is a unit of energy consumption that reflects the amount of energy used by an electrical device over the course of one hour.
February 19, 2023, 01:28:52 PM
Depends on the infrastructure, actually. Some machines are more efficient than others, and therefore consume less energy for the same work. Nobody knows the exact number, but you can make an estimation based on the hash rate and the energy required for the most efficient machine to hash. You can assume every hash is being produced by the most efficient, and figure out what's the least energy consumed for mining.
I keep hearing it is an ‘energy intensive’ industry, but I know for a fact that there are industries that are a lot more polluting than Bitcoin Mining.
The financial sector, first and foremost. February 19, 2023, 04:46:13 AM
Can someone please explain how energy consumption in bitcoin mining is calculated? I keep hearing it is an ‘energy intensive’ industry, but I know for a fact that there are industries that are a lot more polluting than Bitcoin Mining. I also keep coming across news articles that say the bitcoin mining sector is getting more green, which already makes it better than most industries. I don’t understand all the unwanted hate. Anyway, if you guys could exaplain the basic calculations, it would be of great help.
You can also see in real time how much is approximately the total electricity consumption of the bitcoin network over the past 24 hours, as well as min and max consumption, but of course all this is an assumed value, but giving a general idea.
https://ccaf.io/cbeci/index
February 08, 2023, 01:57:39 PM
Can someone please explain how energy consumption in bitcoin mining is calculated?
Energy consumption? Are you sure? It depends on what unit model you have sample you have an s9 miner with 14th/s the watts are 1500w as a sample this is a calculation below for 1 day of mining.
You mine s9 miner in 24 hours so 1500w×24=36,000 and then 36,000÷1000=36kw
That's your consumption in 1 day you can times it into Electricity rate and times it to 30 days that should be your monthly Electricity bill.
If you talking about the hash rate and profitability then use a calculator like this one below.
- https://www.mycryptobuddy.com/BitcoinMiningCalculator
February 08, 2023, 04:20:59 AM
Can someone please explain how energy consumption in bitcoin mining is calculated? I keep hearing it is an ‘energy intensive’ industry, but I know for a fact that there are industries that are a lot more polluting than Bitcoin Mining. I also keep coming across news articles that say the bitcoin mining sector is getting more green, which already makes it better than most industries. I don’t understand all the unwanted hate. Anyway, if you guys could exaplain the basic calculations, it would be of great help.
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