I know it varies but a general ballpark. You'd have to calculate it but is there a site where it shows it?
http://bitcoincharts.com/ --> 2456335.762 Thash/s
and
https://www.hobbymining.com/bitmain-antminer-s9/ --> Very efficient at ~0.1 Joule per GH/s
and
https://en.wikipedia.org/wiki/Electricity_pricing --> a broad range of prices (so let's use $0.10 as an average)
2456335.762 THash/s is 2456335762 GHash/s
2456335762 X 0.1 J/GHash/s X 24hrs X $0.10 = $589520.58288 per day which produces 1800 BTC
dividing it out gives us $327.51 in electricity costs alone
now https://shop.bitmain.com/productDetail.htm?pid=0002016052907243375530DcJIoK0654 we can get some specs and pricing for miners.
Let's say an Antminer S9 is capable of 14 THash/s and assume the network is using only these highly efficient miners. In this case, the network is comprised of 175452.55 S9s
each S9 retails for ~2100 USD and lets assume it will last for 1 year before becoming obsolete. The network hardware costs for the year are 368450364.3 and per day would be 1009453.05 so per coin... $560.81 and lets add electricity to that = 888.32 per coin.
Wow. $888.32 per coin! I haven't included real estate, maintenance, cooling and internet connections/power supplies. Obviously there would be some economies of scale for the manufacturer of the mining devices so they wouldn't be paying retail cost for the miners but that's a ballpark figure.
$888.32
It makes the current price of Bitcoin 836.12 seem like a bargain!
it's not make any sense this math is off
currently one antminer s9 is generating $281.3 per month at 1000khw, this mena that each month it consume only $36 while generating $281
now do $281-$36($245) and scale it to 1000 of them and you can see the whole picture, they have a net of $245 at current price each month
so if bitcoin was going down from now by $200 they would still profit, the minimum therefore is around $600, and because of this i can easily assume that the market will nto fall under $700
Well I suggest you open your mind and look at it again.
With a 14 THash S9 it would presently take 90.24 days to make one bitcoin. At 0.1 watts per GHash/s and 10 cents per kWh it will cost $3.36 per day to run the S9. After 90.24 days you have paid 303.21 in electricity costs alone! In my original calculation I used the entire network hashing rate - yet I see little difference in the per-coin electricity costs.
Please point out where you get 36 dollars for a month of power to run the Antminer S9. I'm curious.
The problem is that half of the network hardware is nearly or fully paid off by now. There is also no need to pay it off in the first month of mining. The production price is lower than 888, I promise.
At others here, Cost of production is not a floor price. Bitcoin price has, and will again go below production cost. It will happen eventually. maybe not any time soon, but price support is not set by miners.
How did you come up with this little tidbit about half the network hardware being nearly or fully paid off? What does it have to do with the cost to mine? Half the current network speed was added in the last year and the hardware responsible for the previous half is nearly or fully obsolete. New miners replace old miners at additional cost to the farms. Also, I would like to know how I left you with the impression that there was a need to pay off the hardware in the first month of mining? I said nothing remotely akin to that!
It seems you know the cost of production or you wouldn't be able to state that Bitoin price has gone below the cost of production. I don't doubt that it could possible dip below the production cost periodically and for very short durations but I don't know the cost of production for the farms - only for myself as a home miner. Please tell us the true production cost of a Bitcoin.
Around 8 months ago, KNC miner declared bankruptcy with Scam Cole saying "Effectively our cost of coin – how much we produce the coins for – will be over the market price. The price is now [roughly] $480. With all of our overhead, after July, the cost will be over $480. All of the liabilities we’ll have after that time will be too high." This announcement only 1 year after they started mass production of their new 16 nm Finfet 3d Solar chip. They claimed it would have an efficiency of 0.07 W/GHash though I never saw any test results and it wasn't sold to the public. Anyway, this was the only time I ever found anyone speaking of the cost of production so today I don't know what the cost is. I do know that if miners can't mine and go bankrupt, the network suffers and transactions take longer to process. I also know that more efficient tech doesn't happen overnight.
No, the miner never gets to set the price of Bitcoin but the miner plays a significant role in the base price of Bitcoin, whether we like to believe it or not. If miners go offline in significant numbers, that could be the death knell for Bitcoin.
Edit: I believe GoGreenLight is the company that took over KNCs equipment and they now have just under 1% of the Bitcoin network hashing rate.