i am doing some calculations and i wonder what the total power consumption for the entire bitcoin mining is.
we are currently at 50,000,000 gh/s. i read that the most efficient miners mine at 0.7-1.1 watt per hour per gh.
i think with decent cooling you need at least 1 watt. that would be a minimum of 50,000kw/h.
did i make any mistake in my calculation? what do you think is the average watt per gh of the current network / the total power consumption?
thx in advance
we are currently at 50,000,000 gh/s. i read that the most efficient miners mine at 0.7-1.1 watt per hour per gh.
i think with decent cooling you need at least 1 watt. that would be a minimum of 50,000kw/h.
did i make any mistake in my calculation? what do you think is the average watt per gh of the current network / the total power consumption?
thx in advance
Your calculation gives the amount of power for one hour of operation. For the daily power you need to multiply by 24.
I think your numbers are probably too optimistic too. The hashing rate is now closer to 60 PH/s and while the newer hardware is very efficient there's a lot of older hardware that is less so. I've been trying to come up with some good estimates (I've guessed at closer to 1.5 W/GH/s) because the energy costs have a pretty significant impact on the viability of mining and the amount of money that gets freed up from the block rewards to pay for next generation hardware (http://hashingit.com/13-megawatts-of-mining)
