cost to mine bitcoin reddit

cost to mine bitcoin reddit

How Much Does it Cost to Mine a Bitcoin Update May 2024

The lifetime cost of an ASIC miner to mine one bitcoin is on average $15 000 $19 000 USD As the price of BTC is $56 000 it remains very profitable to mine bitcoin Although the entry price for miners has risen considerably the past few months because hardware prices have doubled

r/Bitcoin How will/would the marginal cost of energy going to near

If you don t believe it s possible for the marginal cost of energy to go to zero or near zero I respect that If that s where you re at either…

What is the minimum cost to mine bitcoin by

r/Bitcoin • If you are holding any wrapped Bitcoin on any protocol whether on an exchange or in your own wallets know that they are not actually Bitcoin They are scams intended to separate you from your Bitcoin You have been warned

Bitcoin mining does cost energy but it s worth it Xmei Lin

Nova How Ethereum Reddit and FTX Connect KUCNews August 9 2024 Bitcoin Bitcoin mining does cost energy but it s worth it Xmei Lin KUCNews November 18 2024 Cambridge University Research on Consumption bitcoin mining shows that it costs only % of the world s energy But look at all the benefits it creates he

Electricity needed to mine bitcoin is more than used by entire

Bitcoin s advocates have made it clear that they believe any environmental costs that come with mining bitcoin are worth the broader impacts it could have on society 05 59

Everything You Need to Know About Bitcoin Gemini

Bitcoin was established in 2024 There are no physical bitcoins only balances kept on a public ledger that everyone has transparent access to although each record is encrypted All Bitcoin transactions are verified by a massive amount of computing power via a process known as mining

How much does it cost to mine bitcoin reddit ETH Bot

How Much It Costs To Mine For Cryptocurrency YouTube If you have an S9 and your electricity costs 10 cents per kWh the electricity cost per bitcoin is about 15000 or twice the value of a bitcoin Source Decay of mining is quite high 15062021 To get this one up and running it cost me 978 just under 1000

I ve been mining bitcoin for 30 months Here are some VERY reddit

S9 miner = btc per day = $6 per day Cost of electricity for each S9 miner = $ per day Cost of electricity for each air cooling for each S9 = $ per day Cost of electricity for HVAC per S9 = $ per day Cost of electricity for liquid cooling per S9 = $0 per day

Bitcoin vs Ethereum Which one is better for Mining

Bitcoin can best be mined using expensive ASIC machines Ethereum can be mined using GPUs The block reward for Bitcoin is BTC or an equivalent of $125 000 when multiplied with the current $10 000 value The block reward for Ethereum is three ether coins or an equivalent of $2580 based on its current $860 value

Current mining cost of Bitcoin $34 000 StormGain

The current mining cost of Bitcoin is estimated at $34 000 while mining profitability stands at % Any future increase in difficulty will lead to a reduction in mining profitability Once it falls to zero or below we typically see a rally in Bitcoin The lower the mining reward is the more coins miners accumulate as they wait for the

What is bitcoin mining

The block reward is currently set at bitcoins but will be cut in half from early May 2024 then cut in half again four years later and so on 2 the fees associated with all transactions in the current block

Bitcoin Average Mining Costs MacroMicro

Through observing consumption of electricity and daily issuance of bitcoin provided by Cambridge University we can find out the average mining costs of bitcoin When mining costs are lower than bitcoin s market value more miners will join When mining costs are higher than miner s revenue number of miners will decrease

How To Mine Bitcoin On PC Crypto Miner Tips

Our selection of Bitcoin mining software mentioned below is free to download but please be advised there is a small dev fee for using it that is taken from mining profits This is the only way the devs get paid and keeps them happy to continue working on future improvements With that said here is our list of recommended mining software

How much does it cost to mine bitcoin reddit

For example if you were looking at calls with a strike price of $100 but you would have the option expire in 10 years time then you could buy them how much does it cost to mine bitcoin reddit with a strike price of $90 and then sell them for a strike price of $110 and you would get $30 of premium in the process or a total of $60

3 bitcoin mining experts explain why concerns around the cryptocurrency

Bitcoin s 890% rally over the last year has reignited fears that mining the cryptocurrency is consuming a large amount of energy and harming the environment

The Cost of Mining Bitcoin in 198 Different Countries Visual Capitalist

It costs a whooping $246 to mine a single bitcoin in the South American country meaning the process is far from profitable Energy costs are so expensive in the country that miners would be out $225 for just one bitcoin On the opposite end of the spectrum the cheapest place to mine bitcoin is in Kuwait

How to Mine Bitcoin The Complete Guide Crypto Exchanges

The best possible way how to mine Bitcoin now is with the help of the DragonMint T1 miner This runs at 1 600W Multiply this by 100 for example and you re looking at a giant power bill every month To make matters worse running hundreds of computer chips gets hot Think about using a laptop for a few hours on your knee

Reddit Dive into anything

Country wide averages are in the range of 8¢ to 41¢ but can be much higher or lower For example my residential rate is 42¢ no mining for me Bear in mind this is not including the costs of the miner itself $850 Internet air conditioning it s a 1200w heater your time etc 5 Share ReportSave level 1 · 6 yr ago > 1 bitcoin 3 Share

How Much Does It Cost To Mine Bitcoin Advisorpedia

Bitcoin mining requires a sizable initial investment First things first you need to buy one or more ASIC miners that cost anywhere from a few hundred to a few thousand dollars depending on the model hash power and electricity consumption Secondly you need to join a mining pool in order to increase the odds of finding the right hash

How much does it cost to mine bitcoin reddit DB Generator

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5 Best States For Bitcoin Mining and the Worst Investopedia

The report ranks the five best and worst states for mining based on costs With an average cost of $3 224 per bitcoin Louisiana is the cheapest state for bitcoin mining Idaho

Getting started with Bitcoin mining

Sometimes you may want to mine a more volatile altcoin like MWC which is superior for scalability privacy anonymity and fungibility by utilizing MimbleWimble in the base layer With mainnet launching in November 2024 it has risen from $ to over $ in its first two months Step 1 Get The Best Bitcoin Mining Hardware

is bitcoin the cure for this awful inflation r/Bitcoin

Morgan — while the news of the collapse of FTX is empowering crypto skeptics we would point out that all of the recent collapses in the crypto ecosystem have been from centralized players and not from decentralized protocols 5 153 r/Bitcoin Join

10 Best Cloud Mining Platforms in 2024 Daily Payouts

Pledge your contract in exchange for trading funds up to the full contract cost promised mining contracts without funding Information based on the mining of Bitcoin Fees/pricing/cost Roughly $ for every mH/s The maintenance fee for bronze silver and gold is $ per /s daily

The Cost of a Cryptocurrency Mining Setup in 2024 Publish0x

Thus the cost of mining a single Bitcoin depends largely on where you live In 2024 the cost to mine one Bitcoin in the US was $4 758 meanwhile in Venezuela it was just $531 per coin If you wanted to cross the pond you would find it was more expensive at $8 402 per coin in the UK and over $13 000 per coin in Belgium

Correcting a misconception The cost of electricity to mine a bitcoin

The basic idea that claims the cost to mine a bitcoin has some fundamental correlation to value falls under the Labor Theory of Value however this theory is a fallacy and does not hold up under market dynamics Just because a person spends a lot of time or resources creating an object does not mean that that object has value on the market

How To Mine Bitcoin The Balance

How much does it cost to mine Bitcoin Miners must invest in mining hardware and pay internet and electricity costs on an ongoing basis New mining hardware can cost thousands of dollars depending on the equipment you choose Power and internet costs vary by location and usage As a result it s possible to make or lose money when mining Bitcoin

How To Find Bitcoin Mining Cost Bitcoinik

Hardware Cost It refers to the purchasing cost of the bitcoin mining hardware device that is going to be used for mining bitcoins For example Bitmain Antminer S17 Pro s purchasing cost is $2199 2 Some Online Bitcoin Mining cost calculators cryptocompare bitcoin mining cost calculator

How Much Does it Cost to Mine a Bitcoin

the current average cost to mine a Bitcoin is ABout $11 000 USD 1 The 24h Production Cost to Mine a Bitcoin Based on a sample of ASIC models which represent the current hashrate demographics the average production cost to mine one bitcoin is about $9 000 The following is our assumptions methods and results

How Much Will the Last Mined Bitcoin Be Worth John Investopedia

Bitcoin is scheduled to hit the million mark by 2024 Considering that there will only ever be 21 million bitcoin in existence this means that it will take approximately 110 years for the

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