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Topic: Electricity cost of 1 BTC = 0.7 USD? - page 2. (Read 3887 times)

legendary
Activity: 1148
Merit: 1001
Radix-The Decentralized Finance Protocol
June 11, 2011, 03:58:57 AM
#8
I'm getting a 1.5kw solar system in a few weeks, but even that will generate maybe 3kwh per day in the middle of winter.

Vast arrays of solar power would make sense in Australia, but it's still much cheaper to dig up coal and burn it.  Nuclear power is out of the equation and will never happen, despite Australia being one of the world's top uranium exporters.

Power here is expensive and growing at more than 10%/year, and that's before a carbon emissions tax (if that ever happens).  Australia is an expensive place to live.  Our housing costs triple that of the US market (post bubble) and I buy pretty much everything I can online from the USA and England to avoid the local retailer and distributor price gouging.  Books are half price off Amazon.com, inc air mail, etc.

If its any consolation, the australian housing bubble will pop at some point, so you will be able to buy a house cheaper.
legendary
Activity: 1692
Merit: 1018
June 11, 2011, 03:37:29 AM
#7
Ouch, that must kill. Isn't half your country a desert wasteland you could fill with solar panels? Tongue

I'm getting a 1.5kw solar system in a few weeks, but even that will generate maybe 3kwh per day in the middle of winter.

Vast arrays of solar power would make sense in Australia, but it's still much cheaper to dig up coal and burn it.  Nuclear power is out of the equation and will never happen, despite Australia being one of the world's top uranium exporters.

Power here is expensive and growing at more than 10%/year, and that's before a carbon emissions tax (if that ever happens).  Australia is an expensive place to live.  Our housing costs triple that of the US market (post bubble) and I buy pretty much everything I can online from the USA and England to avoid the local retailer and distributor price gouging.  Books are half price off Amazon.com, inc air mail, etc.
full member
Activity: 140
Merit: 100
June 11, 2011, 02:33:38 AM
#6
It costs me around US$3 in power per BTC as one of my computers is less efficient.  I could cut that back to US$2.10 per BTC, but also slow down my hashing rate.  10c/kwh is very cheap power.  I have to pay the equivalent of 27c/kwh in Australia.

Could be part of the problem be that you are a basement mom and popi illegal operation? Wink

I plan putting up some gear and found out that if I put up a LOT  my price of electricity goes from 27 eurocents to 6 eurocents - industrial power is a lot cheaper once you take a lot more than a couple of households, and steadily.

naturally "I have some mining rig in my basement" won't cut it. 30 high power rigs in 3 racks do.

Or: I plan to rount out mining rig. Finance the rig. FInance the room. Finance the seucrity and administration. Cheaper than you pay for the electricity Wink
member
Activity: 82
Merit: 10
June 11, 2011, 01:40:34 AM
#5
It costs me around US$3 in power per BTC as one of my computers is less efficient.  I could cut that back to US$2.10 per BTC, but also slow down my hashing rate.  10c/kwh is very cheap power.  I have to pay the equivalent of 27c/kwh in Australia.

Ouch, that must kill. Isn't half your country a desert wasteland you could fill with solar panels? Tongue

I'd say 10c/kWh is a fair average for America though, seeing as some states have as high as .15, while states with strong hydro or nuclear programs have as low as .045 .
legendary
Activity: 1692
Merit: 1018
June 11, 2011, 01:02:11 AM
#4
It costs me around US$3 in power per BTC as one of my computers is less efficient.  I could cut that back to US$2.10 per BTC, but also slow down my hashing rate.  10c/kwh is very cheap power.  I have to pay the equivalent of 27c/kwh in Australia.
newbie
Activity: 9
Merit: 0
June 11, 2011, 12:43:54 AM
#3
Yes, you are doing it wrong. Take your Mhash/s and then find out how much power you rig is pulling, then see how many coins you get a day vs how much you power you draw in a day.

I'm working with the assumption that the posted Mhash/J numbers are correct, so I don't need to measure them again like you suggest.
member
Activity: 75
Merit: 10
June 11, 2011, 12:35:18 AM
#2
yea you doing it wrong take you Mhs and then find out how much power you rig is pulling then see how many coins you get a day vs how much you power is a day
newbie
Activity: 9
Merit: 0
June 11, 2011, 12:15:49 AM
#1
Hi!

Maybe I'm doing the math wrong here:

Current difficulty = 567358
Good rig efficiency = 2e6 hashes/Joule

Average energy per block = (567358*232/2e6) J = 1.22e9 J = 338 kWh

Price of electricity per block = 338 kWh * 0.1 USD/kWh = 33.8 USD

Divide by 50 BTC per block and we get 33.8 USD / 50BTC = 0.676 USD/BTC

It seems to me that if you already own some hardware capable of hashing, mining pays off twentyfold or more.  So I'm guessing my math is wrong?
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