How much $ is spent in mining Bitcoin per day?

Eugene_Debs_Hartke

newbie

Activity: 22

Merit: 0

Quote from: puremage111 on September 17, 2017, 08:31:45 AM

Is there ways to calculate it?

According to : https://blockchain.info/charts/hash-rate

The Hashrate per second is 7,700,000 ~ 8,000,000 Terahash/second

With 12.5 Bitcoin/Block reward, 10 Minute Block Time , results 1800 BTC Mined/Day

Based on current price, around $6,500,000 ~ $7,000,000 in BTC is mined.

1) How could i calculate how much is spent in electricity / day?

2) Is the current Reward in Bitcoin - Electricity Price of mining = Positive profit?

Thanks

If you don't count the costs of hardware, yes that would be the profit. I'd say maybe it's half the reward, so $3-4m a day.

Slow death

legendary

Activity: 3234

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: puremage111 on September 17, 2017, 08:31:45 AM

Is there ways to calculate it?

According to : https://blockchain.info/charts/hash-rate

The Hashrate per second is 7,700,000 ~ 8,000,000 Terahash/second

With 12.5 Bitcoin/Block reward, 10 Minute Block Time , results 1800 BTC Mined/Day

Based on current price, around $6,500,000 ~ $7,000,000 in BTC is mined.

1) How could i calculate how much is spent in electricity / day?

2) Is the current Reward in Bitcoin - Electricity Price of mining = Positive profit?

Thanks

here https://www.cryptocompare.com/mining/calculator/btc?HashingPower=4730&HashingUnit=GH%2Fs&PowerConsumption=1293&CostPerkWh=0.12

you can get your doubts, if you have any doubts go to the bitcoins mining section

puremage111

hero member

Activity: 1568

Merit: 511

Quote from: FruitsBasket on September 17, 2017, 08:42:48 AM

Quote from: puremage111 on September 17, 2017, 08:31:45 AM

Is there ways to calculate it?

According to : https://blockchain.info/charts/hash-rate

The Hashrate per second is 7,700,000 ~ 8,000,000 Terahash/second

With 12.5 Bitcoin/Block reward, 10 Minute Block Time , results 1800 BTC Mined/Day

Based on current price, around $6,500,000 ~ $7,000,000 in BTC is mined.

1) How could i calculate how much is spent in electricity / day?

2) Is the current Reward in Bitcoin - Electricity Price of mining = Positive profit?

Thanks

Hey,

It is impossible to know the exact costs of the electricity that is used daily for bitcoin mining, since the electricity rates are different in every country and even within a country there are different rates. You can estimate it by taking the avarage cost for electricty for each country and multiply it by the total hashrate that country has. Do this for every country that mines btc and add all values together and you will have your answer.

Regards,

FruitsBasket

Lets take $0.05 $/kwh

What would be the calculation here?

Total Hash Rate / Mining Rigs amount * Mining Rig electricity per day?

FruitsBasket

legendary

Activity: 1232

Merit: 1017

Quote from: puremage111 on September 17, 2017, 08:31:45 AM

Is there ways to calculate it?

According to : https://blockchain.info/charts/hash-rate

The Hashrate per second is 7,700,000 ~ 8,000,000 Terahash/second

With 12.5 Bitcoin/Block reward, 10 Minute Block Time , results 1800 BTC Mined/Day

Based on current price, around $6,500,000 ~ $7,000,000 in BTC is mined.

1) How could i calculate how much is spent in electricity / day?

2) Is the current Reward in Bitcoin - Electricity Price of mining = Positive profit?

Thanks

Hey,

It is impossible to know the exact costs of the electricity that is used daily for bitcoin mining, since the electricity rates are different in every country and even within a country there are different rates. You can estimate it by taking the avarage cost for electricty for each country and multiply it by the total hashrate that country has. Do this for every country that mines btc and add all values together and you will have your answer.

Regards,

FruitsBasket

Moneroman88

sr. member

Activity: 448

Merit: 252

I only know for certain that I personally invest about 1$ in BTC a day on average
Ive calculated that

puremage111

hero member

Activity: 1568

Merit: 511

Is there ways to calculate it?

According to : https://blockchain.info/charts/hash-rate

The Hashrate per second is 7,700,000 ~ 8,000,000 Terahash/second

With 12.5 Bitcoin/Block reward, 10 Minute Block Time , results 1800 BTC Mined/Day

Based on current price, around $6,500,000 ~ $7,000,000 in BTC is mined.

1) How could i calculate how much is spent in electricity / day?

2) Is the current Reward in Bitcoin - Electricity Price of mining = Positive profit?

Thanks

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