12 ms·

It's actually way below efficient: a Bitcoin only costs $7-11k to mine at scale. [0] https://minerdaily.com/2021/how-much-does-it-cost-to-mine-a-bitcoin-update

• graeme 5y ago
  That’s very interesting. But those figures are from May, and once you include ASIC price the average is $19,000 at 5.5 cents per kwh. Is that the average electricity price paid today, after the China ban? If either electric rates or hardware costs have risen, then the cost rises. The article also ignores other costs: staff, accounting, real estate, all the other costs involved in running a company. It’s just looking at an ASIC magically teleported to a generator, and magically protected from the elements. Useful calculation but not 100% of costs. Would be very interested if someone did that calc. Probably can find it for RIOT or MARA by digging through their books. May do it for fun later.