Bitcoin mining has always been a hot topic in the field of digital currency, and one of the costs that cannot be ignored is the mechanical and electrical costs. So, what is the mechanical and electrical cost of Bitcoin mining in one day? This article will explore this issue in depth and reveal the cost structure and related details of Bitcoin mining.

The mechanical and electrical costs of Bitcoin mining are mainly composed of two parts: machine power consumption and cooling power consumption. The first is machine power consumption. Mining machines usually need to run for a long time and consume a lot of electricity. The second is cooling power consumption. Mining machines generate a lot of heat during operation and need to be effectively cooled, which also consumes a certain amount of electricity.

In some areas with low electricity prices, such as some mines in China, the electricity cost of Bitcoin mining machines in one day may be around tens of dollars. In areas with higher electricity prices, such as Europe or the United States, the mechanical and electrical costs of one day may be as high as hundreds or even thousands of dollars. This is why many miners choose to place mining equipment in areas with lower electricity prices for mining.

In addition to regional factors, the mining method will also have an impact on the electromechanical costs. For example, the efficiency of the mining machine, changes in mining difficulty, etc. will affect the electromechanical costs. Some high-efficiency mining machines can reduce energy consumption, thereby reducing electromechanical costs, and as the difficulty of Bitcoin mining increases, the electricity required for mining will gradually increase, thereby raising the electromechanical costs.

In addition, the length of mining time is also an important factor affecting the electromechanical costs of a day. Some miners choose to mine uninterruptedly around the clock, while some miners may choose to mine during periods of lower electricity prices to reduce costs. Therefore, different mining strategies will also have a greater impact on electromechanical costs.

In the world of Bitcoin mining, electromechanical costs are a cost that cannot be ignored. Understanding the electromechanical costs of Bitcoin mining in a day can help miners better formulate mining strategies and improve profitability. By reducing electromechanical costs and optimizing mining methods, miners can stand out from the fierce competition and gain more benefits.

In general, the mechanical and electrical costs of Bitcoin mining are affected by many factors, including region, mining machine efficiency, mining methods, etc. Only by deeply understanding these factors can miners go further on the road of mining. Mining is not only a technical job, but also a game of cost and benefit. Only by finding a balance point can we be invincible in this world of digital currency.

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How much does the electricity cost of a Bitcoin mining machine cost per day? For those who are still struggling on the front line of mining, what bothers them most is no longer the high investment in mining machines, but the huge electricity bills that are increasing day by day. Bitcoin mining machines consume a huge amount of electricity. Even ordinary mining machines consume more than 1,000 degrees of electricity per month. What's more, relying on a mining machine for mining is like moving mountains. Therefore, large mining farms have nearly 10,000 machines operating at the same time, and such power consumption is even more amazing. Some small and medium-sized mining farms bid farewell to the mining industry early because of the huge electricity expenditure and seek other ways out.

Depending on the size of the computing power, a mining machine consumes about 30 to 50 degrees of electricity for 24 hours a day, and the monthly electricity consumption is about 1,000 degrees. For miners, the premise of successful mining is to find a good mining farm, and the most important thing is to need cheap electricity to lower the cost price of mining. Since the price of Bitcoin skyrocketed in 2017, blockchain mining has gradually formed an industrial chain. In Sichuan, Inner Mongolia, Xinjiang and other places, relying on the local cheap electricity, many large mines have sprung up.
In October 2018, Bitmain, the world's largest mining machine manufacturer, submitted a prospectus to the Hong Kong Stock Exchange, bringing the mining industry from the deep mountains and old forests into the public eye.
From Sichuan to Xinjiang, go wherever it is cheaper.
Mining is no longer a profitable business. Since July 2018, the digital currency market has continued to be sluggish. The price of Bitcoin has fallen continuously from US$9,000 to the US$6,000 mark. It has fallen by nearly 60% from the US$19,000 mark at the beginning of the year. Affected by mainstream digital currencies such as Bitcoin, the bubble of the entire digital currency market has gradually been squeezed out. If each mining machine consumes 1,000 kWh of electricity per month and each kWh costs 0.35 yuan, and each 100 mining machines need to pay 35,000 yuan in electricity bills per month, the miners' monthly profit is only 36,100 yuan, and it takes 1 year to recover the cost of purchasing mining machines. Affected by the sluggish market, miners' income has also dropped sharply. According to the highest price of Bitcoin in 30 days, 8,376 US dollars, the mining income of each 100 mining machines has dropped sharply by about 42,300 yuan.

Using Bitcoin mining machines consumes a lot of electricity, and the high or low electricity bills greatly affect the profits of the mines. As a result, many mines are built in pursuit of electricity, and they are built wherever the electricity price is cheap. Some mines even have the migratory nature of migratory birds. In summer, they go to Sichuan to generate electricity using hydropower to save electricity bills; in winter, they go to Xinjiang and Inner Mongolia to generate electricity using wind power, which can also save electricity bills. In some places, there are some government-supported projects with preferential policies on electricity bills, which have attracted many miners to invest in building factories.

On September 4, 2017, the People's Bank of China and seven other departments jointly issued a document announcing that they would crack down on token issuance and financing, and announced that tokens or "virtual currencies" such as Bitcoin and Ethereum are not issued by monetary authorities and do not have the same legal status as currencies. The change in attitude of local governments began from then on. In Ganluo County, Liangshan Prefecture, Sichuan, the local government has long begun to pay attention to the phenomenon of hydropower station mining. This small county with only one street is planned to have 120 hydropower stations. After being noticed by the regulatory authorities, some mines started guerrilla warfare. Before the leaders of the power bureau came to inspect, they quickly moved the mining machines away; after the leaders left, they moved them back. There are also hydropower station owners who clearly stated that they would not mine, "because the leaders above do not allow it." Some miners believe that mining is not illegal, and the government has not explicitly prohibited mining.

On August 10, 2018, a blockchain cloud equipment management company in Shenzhen announced that the latest 15,000-machine mining farm was completed in Paotai Town, Xinjiang, and was "regular and stable" and was accepting reservations. A mining machine practitioner has planned to move his mine in Sichuan to Xinjiang. At present, the best mining machine in its mine can mine 0.00048230 bitcoins per day, and 20 machines can mine 0.28938 bitcoins in a month. A mining machine earns less than 100 yuan a day. Excluding the money for buying the mining machine and the electricity bill, it takes about 500 days to get back the investment. As early as the end of July, the Xinjiang Economic and Information Commission announced that all mining farms that have not been registered with the industrial and commercial administration and strictly pay taxes will be cleared out, and the mining farms may no longer enjoy preferential electricity prices in the future. The deadline for clearance is August 30.

In order to obtain cheap electricity, the mining farm directly enters the hydropower station. The large amount of electricity consumption requires the hydropower station to generate electricity at full capacity. A small mining farm with 3,000 mining machines can bring more than 1 million yuan of income to the hydropower station every month. And a mining farm with 3,000 mining machines can only be regarded as a small mining farm in Sichuan. The rich hydropower resources attract miners who are looking for electricity. Small mines with 3,000 to 5,000 mining machines are everywhere, and large mines with tens of thousands of mining machines are not uncommon. Many mines with large consortiums directly spend huge sums of money to buy a hydropower station. In response to this, Sichuan Province issued the "Opinions on Further Strengthening and Standardizing Hydropower Construction Management" in September 2016, which clearly stated that during the "13th Five-Year Plan" period, Sichuan will strictly control the approval of medium-sized hydropower projects, and the capacity of the built small and medium-sized hydropower stations will no longer be expanded.

In the field of mining, mechanical and electrical costs are an indispensable cost factor. Bitcoin mining requires huge electricity consumption, and the level of electricity costs directly affects the profitability of mining. In different regions and different time periods, there are large fluctuations in electricity prices, so the electricity costs of Bitcoin mining machines in one day will also be different.