How Much It Costs To Mine A Single Bitcoin Around The World, Visualized

How Much It Costs To Mine A Single Bitcoin Around The World, Visualized

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  1. This is an incomplete picture, as it only takes into account the cost of electricity. You should also take into account the cost of the equipment itself and the place where you run it, assuming most people wouldn’t want to run a loud ass ASIC miner in their living room. The same miner can cost significantly more in one country vs another depending on shipping costs, taxes etc.

  2. tldr; Using electricity-per-kilowatt cost data from the World Bank, US Energy Information Administration and, mineral processing organization 911metallurgist estimated how much it would cost to mine a single bitcoin around the world, and in the US. One bitcoin takes an estimated 1,449 kilowatt hours of energy, which in context is the same amount of energy one US household consumes over 13 years.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. Interesting, thanks for sharing. But there’s so many additional factors, variable rates and other dynamics that make this really difficult to represent in a static form. It would be hard to show a realistic mining cost per bitcoin across the planet. This is still helpful though to get a high level idea of what the market looks like. Cool stuff.

  4. Great article & info on electricity costs per ₿.

    Now, if we could get our hands on some more relevant data that would be wicked. Such as, the impact on price per ₿ if each country was to only use renewable sources ie. Solar, wind, hydro etc. along with the costs of implementing such sources per individual in each country.
    After that, a global list of equipment costs, transportation costs, taxes, internet accessibility and suitability; along with anything else that I haven’t mentioned already.

    Finally, if we could get a list of possible, and suitable, usages for the energy that is expended with the mining of each ₿, usages that are relevant to each country, or to individual citizens of each country, then we can compare all of the above and one of us, somewhere along the way, will spot something that even though it has been in clear view all along, has for whatever reason been hidden from our sight.

    We are on the right path, and we will get to where we need to be, eventually.

What do you think?

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