Ethereum: How much does it cost in computing time/hardware to mine bitcoins? [duplicate]

Ethereum: Bitcoin costing cost – detailed analysis

Mining Bitcoin was a key aspect of the cryptocurrency landscape from the very beginning, enabling users to confirm the transaction and create new units. However, one of the most commonly discussed topics of Bitcoin excavations is energy consumption. How much does the time/equipment calculate for a minute of bitcoin? In this article, we will examine the details of the Bitcoin mining costs, examining the impact of hardware opposite the software on these costs.

basics

Bitcoin excavation includes solving complex mathematical equations that require significant computer power. Miners compete for these equations faster than others, using the capacity of the processing of their computers to confirm the transaction and create new units. The process is energy intensive, which requires considerable power from individual miners or great data.

Equipment opposite software mining

There are two basic methods of Bitcoin extraction:

• Hardware mining : This includes the use of specialized hardware devices such as graphics cards (GPU) or integrated specific circuits for APP (ASIC), especially designed to solve complex mathematical equations.

• Software extraction : Miners use software algorithms to solve the same mathematical problems that are then performed for general purposes.

energy consumption

Estimating accurate energy costs in bitcoin excavations is difficult due to the differences in the configuration of hardware and software, as well as differences in the work environment. However, we can look at some approximate estimates based on available public data:

• The University of Cambridge has estimated that the GPU miners used an average of 10-20 kWh/hour (Kilowatt-Sata) for extraction.

• Another report of the International Bridcoin Broker and stock exchange association suggested that software miners can reduce energy costs to 50% compared to equipment extraction.

cost reduction

Assuming a moderate speed of abbreviations (the number of calculations needed to solve mathematical equations), let us examine the estimated costs and in the case of hardware and software extraction:

* hardware mining :

* Top GPU with a speed of 1 Thush/s can use an average of $ 3-5 per hour.

* Medium -reference ASIC with a shortcut rate of 100Hash/s can cost about USD 500 to 1000 USD.

* Operational costs, including electricity and cooling, can add an additional 2 to 5 USD per day.

* software extraction :

* A high-class computer with a shortcut of 10Hash/s can use an average of USD 1-3 per hour.

* The working surface or laptop in an average level can cost around 100 to 500 USD, depending on the configuration.

It should be remembered that these estimates are rough and can be significantly distinguished on the basis of individual circumstances. For example, if you make a mine on the best GPU or ASIC, your costs may be higher than the cost from a lower power device.

Application

Energy consumption associated with Bitcoin digging is significant and the costs can be quickly released. However, it should be taken into account that these costs are only part of the equation when assessing the entire mining cryptocurrency economy, such as Bitcoin. As the technology progresses, new hardware configurations are available, which can reduce energy consumption and reduce operating costs.

Let’s put things from a perspective, let’s assume that a hypothetical scenario in which you can spend 10 BTC a day on the best graphics processor at a speed of abbreviations 1 Thush/s:

* Hardware mining : Your estimated daily cost would be around 3-5 USD (USD $ 10 BTC x 0.25 USD for BTC).

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