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How much does it cost to mine Bitcoin in a day

Date:2024-07-19 18:31:41 Channel:Crypto Read:

In today's era of digital currency prosperity, Bitcoin, as the most representative cryptocurrency, has attracted much attention. In the process of mining Bitcoin, electricity expenses have become a hot topic. Let's explore in depth and reveal how much electricity it costs to mine Bitcoin for a day, crossing the intersection of the digital world and the real economy.

Mining Bitcoin requires a lot of computing power, and the amount of electricity consumed behind it is also huge. According to statistics, the electricity consumption required to mine one Bitcoin is equivalent to the electricity consumption of an American family for a month. This astonishing figure makes people look sideways and also triggers in-depth thinking about the cost of mining.

In the process of mining Bitcoin, electricity expenses have become an important part that cannot be ignored. Taking China as an example, it is reported that China is one of the important bases for Bitcoin mining in the world, but it also brings huge electricity consumption. According to the calculation of local electricity prices and mining machine power consumption, the electricity cost required to mine one Bitcoin is about several thousand yuan. This figure makes people start to think whether digital mining is worth such a high energy investment.

In addition to China, the cost of Bitcoin mining in other countries has also attracted much attention. In North America, especially Canada and the United States, the cost of Bitcoin mining is relatively low due to relatively cheap electricity prices and abundant clean energy resources. However, with the fluctuation of Bitcoin prices and the increase in mining difficulty, electricity expenditure is still an important factor that miners need to seriously consider.

In Europe, especially in Nordic countries, the cost of Bitcoin mining is relatively low due to abundant renewable energy resources. Countries such as Norway and Iceland have attracted a large number of miners with their cheap hydropower and geothermal energy. However, even so, electricity expenditure is still one of the important costs that miners need to weigh.

In general, the electricity cost of mining Bitcoin for one day varies from region to region, but it is roughly between several thousand yuan and ten thousand yuan. In addition to electricity consumption, this cost also covers additional costs such as maintenance of mining machines and air conditioning cooling. Therefore, for Bitcoin miners, how to effectively control electricity expenditure and improve mining efficiency will become an important topic.

The four most famous international exchanges:

Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
Binance International Line OKX International Line Gate.io International Line Huobi International Line
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.


How much does it cost to mine Bitcoin in one day? As we all know, the biggest cost of Bitcoin mining is not the cost of the mining machine. Although the cost of some mining machines at the peak period was as high as hundreds of thousands of yuan, the mining machine is a one-time investment, while electricity is consumed every day, and Bitcoin mining machines consume a lot of electricity, especially for some large mining farms. Of course, different Bitcoin mining machines have different powers, so the power consumption is also different. Let's take the Antminer S9 as an example to calculate the electricity cost of a Bitcoin mining machine in one day.

The computing power of Ant S9 is 13.5t, and the power consumption is 1400w. When the mining machine runs for 24 hours: 1.4 kilowatts  24 = 33.6 degrees, which is roughly equivalent to the power consumption of a relatively energy-saving air conditioner. However, Bitcoin mining machines need to run 24 hours a day. The power consumption of a single machine is very large in a year. The tiered electricity price cost of household electricity is too high. When the market is not good, the income may not even be enough to cover the electricity bill. Therefore, mining will choose to be hosted in the mining farm, which can get cheap electricity and reduce the mining cost. The price below 30 cents is a relatively ideal price, which can maintain a certain income when the Bitcoin price falls to the bottom.

As for the current difficulty of Bitcoin mining: 
Bitcoin revenue per ton: 1TH/S24H=0.00007087BTC, based on the combined computing power of 12t machines, the daily output is: 0.0000708712t=0.00085044BTC, so the time required for a single machine to mine one Bitcoin is: 1/0.00085044=1175 days; the time required for ten mining machines to mine one Bitcoin is: 
1/0.0085044=117 days; the time required for one hundred mining machines to mine one Bitcoin is: 1/0.085044=11.7 days. That is to say, according to the current difficulty, it takes about three years for a single mining machine to produce one bitcoin, 3.9 months for ten mining machines to mine one bitcoin, and 11.7 days for one hundred mining machines to mine one bitcoin. The cost of investing in a single machine is about 8,500, 85,000 for ten machines, and 850,000 for one hundred machines, which is less than one million. The monthly income exceeds two bitcoins, which is about 120,000 according to the current currency price. In this way, although the current income from Bitcoin mining is not as good as before, it is still considerable compared to other investment projects.

However, these incomes do not include the deduction of electricity costs and the subsequent machine maintenance, so the premise of mining is to find a mining farm with cheap electricity costs. If the volume is large, it is even more necessary to find a safe, reliable and stable mining farm, and more importantly, cheap electricity costs are needed to lower the cost price.

In today's booming digital currency, the issue of electricity expenditure for mining Bitcoin has attracted much attention. From China to North America, from Europe to Asia, the mining costs in different regions have their own characteristics, but electricity expenditure is always an important factor that miners need to seriously consider. In the future, with the development of science and technology and the popularization of clean energy, I believe that the electricity cost of mining Bitcoin will be gradually optimized, injecting new vitality into the development of the digital economy. Let us look forward to the integration of the digital world and the real economy to create a more prosperous and sustainable future.


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