Topic: What is Physical Worth of Bitcoin: Energy Consumption and Equipments  (Read 220 times)

Do you think can we find past values of bitcoin mining? By using today's datas.

in short
whil hardware cost per asic remain the same. you can use the magic multiplier numbers of 104-154 against the hashrate in exa hash to work out the mining cost range

EG
36exa * 104 =$3744
36exa * 154 =$5544

some lucky pools running new gen s15 asics. and with bitcoins hashrate going down to 34exa.
puts the break even cost for those LUCKY limited number of miners at
which at recent LOW hashrate is 36exa..
S9=3744(delivery started this week)
s9=3996(previous batch already mining)
T15=3939(delivery christmas+ but "QA testing" gives whales coins)
S15=4216(delivery christmas+ but "QA testing" gives whales coins)


but this $3744 is just a break even for the lucky few running cheap second hand s9's
and for the very bottom hashrate recently
emphasis again its the BOTTOM LINE break even for limited amount of people with most efficient miners with the very bottomline hashrate recently
(majority of public not getting delivery of s15 until late december)

i done some math so that while hardware prices stay the same you can use a magic multiplier number

as for those running s9's bought at $450 last month multiple of hashrate is 111 $3996
as for those running s9's bought at $850 in summer multiple of hashrate is 154 $5544
as for those running s9's bought at $2000 late 2017 multiple of hashrate is 270 (not bothering with most shut down by now)
as for those running s9's bought at $400 now the multiple of hashrate is 104 $3744
as for those running T15's bought at $950 now the multiple of hashrate is 109 $3939
as for those running S15's bought at $1450 now the multiple of hashrate is 117 $4216

how this was calculated to find the magic multiplier number for easy cost bottom line of a previous hashrate and certain ASIC model (s15 @ $1450 and power as 1.6kwh and electric cost of 0.05c)

hashrate 36exa = 36,000,000thash
36m thash / hashrate of asic(28thash)

36000000/28=1285714 ASICS

1.286m asics * $1450 cost of asic unit
1285714.285714286*1450=$1864285714.29 of hardware

$1.86bill of hardware 26 fortnights / 2016 blocks /12.5btc = cost of hardware per btc
yes i based it on spreading hardware cost over average year lifecycle of hardware
1864285714.285714/26/2016/12.5=$2845.368917 of hardware cost for pools using S15

now the electric (based at 5cents... yea some can get cheaper but include facility lease and labour. 5cent reasonable)
1,286 asics *1.6kwh * 0.05 = electric $ per hour at 5 cents
1285714.285714286*1.6=$102857.14 (now multiply it by 24 then by 14 to get a fair fortnightly cost)
102857.14*24*14=$34560000 for a fortnight (now divide that by 2016 blocks and 12.5btc)
34560000/2016/12.5=$1371.43 electric per btc


now hardware and electric=cost of mining using S15's
2845.36+1371.43=$4216.79 cost per btc

you may see me multiply by 24 then 14 then divide by 2016 divide by 12.5
instead of just divide by 6 divide by 12.5
i done this because bitcoins rule is 2016 blocks a fortnight. not 6 blocks an hour(10min)
some people multiply by 24 multiply by 365 and then multply down by 26 fortnights then 2016 blocks then 12.5btc
which gives a ~$3 variance. thats because theres a difference of a few days. of the year compared to 26 fortnights
(you can choose how anal you want to be over the math)


now this ~$4216 is based on a variable of the exa hash.. so if you divide how many exahash. your left with a constant
of cost per single exa hash.. which is the magic constant to do easy mining cost of T15 mining
4216/36=117.133

so 89.88 is the magic constant for T15 mining.
you can double checking with the lengthy math of different hashpower.
but youll still see the same result if just taking the hashrate in exa and multiplying by 89.88 give or take a few pennies

---

now with that said
$4216 is the BOTTOMLINE break even per btc for the lucky few with the most efficient NEW miners known as S15.
the range of mining costs is
s9@$400(104)=$3744
s9@$850(154)=$5544

so that is the majority of range of mining costs. so dont take $3774 as average or majority. just think of it as the minimum BASELINE for 36exahash mining for a lucky few