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Topic: Price of mining the cheapest bitcoin - page 4. (Read 3511 times)

legendary
Activity: 1020
Merit: 1000
September 07, 2014, 03:17:58 AM
#5

Most efficient bitcoin miner - Extolabs EX1/ Wolfblood-XE  - 1 GH/s for 0.19 watt

                                                                                             5263 GH/ for 1 kilowatt

Cheapest Electricity in USA/Europe/Russia/China (avg)     - 0.08 USD/kWh


Estimated time to generate 1 BTC                                    - 10.36 days (with the current difficulty)



Energy cost = 10.36 X 24 X 0.08 = 19.9 USD !!!


Which is freaking close to current price levels !!

Your math is wrong. It takes 259 days on average to mine a whole block of 25 BTC, so energy cost per BTC for this miner is only 19.89 USD @ 0.08 USD/kWH. We have some ways to go before those become unprofitable. Wink




At the current times 25x profitability in mining, that's huge
legendary
Activity: 1246
Merit: 1000
September 07, 2014, 03:16:22 AM
#4
I'm paying $0.26 USD/kWH here where I live, I feel scammed. Sad
legendary
Activity: 1260
Merit: 1000
World Class Cryptonaire
September 07, 2014, 03:12:25 AM
#3
Eh...I pay $0.08/KW in the US and I live in a highly populated area that is NOT cheap. I have a buddy in the Mid west that pays $0.04/KWH (has agriculture line) and I've heard rumors that some big centers in china can get $0.02/KWh.


legendary
Activity: 1246
Merit: 1000
September 07, 2014, 03:11:12 AM
#2

Most efficient bitcoin miner - Extolabs EX1/ Wolfblood-XE  - 1 GH/s for 0.19 watt

                                                                                             5263 GH/ for 1 kilowatt

Cheapest Electricity in USA/Europe/Russia/China (avg)     - 0.08 USD/kWh


Estimated time to generate 1 BTC                                    - 259 days (with the current difficulty)



Energy cost = 259 X 24 X 0.08 = 497.28 USD !!!


Which is freaking close to current price levels !!

Your math is wrong. It takes 259 days on average to mine a whole block of 25 BTC, so energy cost per BTC for this miner is only 19.89 USD @ 0.08 USD/kWH. We have some ways to go before those become unprofitable. Wink

legendary
Activity: 1020
Merit: 1000
September 07, 2014, 03:02:08 AM
#1
Most efficient bitcoin miner - Extolabs EX1/ Wolfblood-XE  - 1 GH/s for 0.19 watt

                                                                                             5263 GH/ for 1 kilowatt

Cheapest Electricity in USA/Europe/Russia/China (avg)     - 0.08 USD/kWh


Estimated time to generate 1 BTC                                    - 10.36 days (with the current difficulty)



Energy cost = 10.36 X 24 X 0.08 = 19.9 USD !!!
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