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> The electricity cost of processing a bitcoin transaction on a dedicated ASIC mining rig is, at the moment, 308 kwh. Source?
by craftinator 6y ago
> The electricity cost of processing a bitcoin transaction on a dedicated ASIC mining rig is, at the moment, 308 kwh.
Source?
- jjk166 6y agoA current ASIC bitcoin miner will do 90 Terahashes per second (1 Terahash = 1 trillion hashes) while consuming 3420 Watts which is equivalent to 38 Watts per Terahash (38 W/TH). Average power consumption will be higher, though those with big dedicated rigs probably make up the bulk of the network's processing power. The entire bitcoin mining network which processes all transactions does 120 Exahashes (120,000,000 terahashes) per second. Were all mining done on comparable asics this would be 4.56 GW to run the whole network, which in turn means electricity consumption would be 4.56 million kwh per hour. At the time of this writing bitcoin is averaging 14,814 transactions per hour, meaning the average electricity consumption per transaction is 308 kwh. You can see the hash rates and power consumption for bitcoin miners at [0]. Hash rates for the network at [1]. Transaction rate at [2]. [0] https://www.asicminervalue.com/efficiency/sha-256 https://www.asicminervalue.com/efficiency/sha-256 [1] https://www.blockchain.com/charts/hash-rate https://www.blockchain.com/charts/hash-rate [2] https://www.blockchain.com/charts/transactions-per-second https://www.blockchain.com/charts/transactions-per-second
- craftinator 6y agoThank you for showing source and calculations! I hate all the magic numbers being thrown around.