What is the electricity cost for bitcoin mining?

What is the electricity cost for bitcoin mining? – ” How much electricity cost will it take to mining bitcoins?” “For those worried that I’d like to mining, but income and expenditure do not matter”, I suppressed the electricity charge for bitcoin mining and electricity bills I will show you how to do mining.

How much electricity cost will it take to mining bitcoins …?

There is an increasing number of people trying to earn income by mining virtual currencies such as bitcoins.

However, the difficulty of mining is a balance of income and expenditure.

In other words, if the reward obtained by mining does not exceed the electricity cost of mining, it is useless.

On this page, I will explain about “electricity bill” which cannot be neglected absolutely in mining bitcoins.

Electric charge for bitcoin mining

First of all, how much electricity cost will it take for bitcoin mining?

The electricity cost when the mining equipment is fully operated for one month will be as follows.

According to the calculations by the editorial department, the electricity bill for a general laptop PC (80 W) when the CPU was fully operated in a nonstop for one month was ” 7.87 month “.

On the other hand, since the power consumption of Bitmain’s Antminer S 9 (14 TH / s), which is representative of ASIC exclusively for bitcoin mining, is “1,372 W” in terms of specifications, it is calculated as 134.93per month as electricity bill.

However, since the hash rate (mining speed) of the mining ASIC is much larger than the notebook PC, it is possible to make it profitable every month by the reward of the acquired virtual currency.

After that, it is whether mining exclusive ASIC purchase cost can be collected by mining or not.

For reference, you can earn rewards by selling hash power to the service nicehash (cooperating with mining), but assuming earnings using Antminer S 9 (14 TH / s) is about 873.89USD per month.

Source: nicehash

Therefore, even if the electricity bill is deducted, it is supposed that profit can be obtained for about 740.04 a month for calculation.

Considering that Antminer S 9 is 2,100 USD it will be a calculation that can get original in 3 months.

However, note the following points of note, so be careful before making mining decisions.

• ① Preparation of equipment for cooling the mining equipment and electricity charges for operating the cooling equipment are required
• ② There is a possibility that the mining equipment may break down
• ③ There are price fluctuations of bitcoins
• ④ As the number of people participating in mining increases, it becomes difficult for you to earn rewards
• ⑤ The degree of mining difficulty rises and there is a possibility that it will be difficult to obtain rewards unless the latest equipment is introduced

In particular, although it becomes ⑤, bitcoin is adjusting the difficulty of mining so that the success of mining is not biased toward a specific individual or organization.

Although this is called difficulty adjustment, since the mini-culture material is raised each month and the mining equipment to correspond to it is developed every day, if it is possible to obtain profit stably with the current hash power, it is easy to do I think that it is better to avoid thinking about it.

If you want to check the transition of bitcoin’s difficulty, you can check it at https://blockchain.info/ .

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Source: https://blockchain.info/

TEPCO Electricity Fee

※ Reference Notebook Power Calculation Formula

80 W (notebook PC) × 24 hours × 30 days = 57.6 kW

57.6 kW x 15.51  = 7.87

Overseas electricity bill [bitcoin mining]

Next, let’s look at overseas electricity bills.

According to the report of the Central Research Institute of Electric Power Industry, it can be said that Japan has a high electricity cost internationally.

In terms of 1 kW / h, it is about 25 to 35 yen, the same level as Germany and Denmark (the exchange rate as of 2013).

On the other hand, America and South Korea have about 10 Yen, China 4 to 5 Yen, India 0.1 to 7 Yen, compared to Japan there is considerable opening.

It goes without saying that the lower the electricity bill, the easier it is to make it profitable.

In the case of Japan, trying to make a profit by mining is disadvantageous compared to a country with a cheap electricity because of the height of the electricity bill.

It is thought that it will finally be established as a domestic business by finally entering a large contract of electricity fee, introducing specially made ASIC with a high hash rate for power consumption.

To suppress the mining electricity bill and make money

Currently, in order to earn earnestly with bitcoin mining, the initial investment in ASIC is necessary.

PC has less hash rate (computing power) than ASIC, and even on PC with high-performance GPU, it does not match ASIC at all.

For ASICs, the more has models that exceed 10 trillion hash calculations per second, the higher the hash rate is, which can be said to be the minimum equipment required to raise mining fees.

However, ASIC is a tool that cannot be used for applications other than bitcoin mining, and there is a necessity to collect not only electricity bills but also purchase expenses.

In order to accelerate the collection of investment in ASIC as much as possible, it is important to suppress the electricity bill, especially the following two measures are recommended.

• It is a device that can measure the electricity cost (power consumption) which is the expense of introducing watt monitor in real time. You can measure it by connecting the power plug of PC or ASIC to the watt monitor directly wired to the outlet. However, it is difficult to read the numerical value with direct insertion into the outlet, so it would be nice to use an extension cord for easy viewing. In addition to the electricity consumption and the accumulated electricity charge, there is also a watt monitor that can measure the consumption CO2 (carbon dioxide) amount.

• Reviewing charge plan for electricity bill Since the
  electricity retail business has been liberalized, various business categories provide electricity from lifestyle companies such as gas companies to entirely different industries. A lot of plans have appeared one after another as compared with conventional electric power companies. Why do not you order the data and compare and consider it?

For example, with ENEOS, you can do fee simulation with a various discount plan on the site.

In addition, Looop, an electricity provider based on renewable energy  announces the electric plan mining flat for mining companies in 2017.

For 10 A, if you pay a monthly minimum fee of 6,170 yen, the electricity charge will be fixed up to 250 kWh per 10 A every month. In other words, if it is a contract of 40 A, you can use it up to 1000 kWh with payment of 217.43 monthly.

As Bitmain’s ASIC for bitcoin mining, Antminer S 9 is about 1000 kWh each month with a simple calculation, so we will be able to finish the electricity bill with a flat rate plan of “Mining Flat 40 A”.

Mining software to increase mining efficiency

If individuals are to mining bitcoins, we recommend “pool mining” to cooperatively perform mining on multiple PCs.

Also, since the probability of success of a bit coin is low, alto coin (a virtual currency other than a bit coin, such as an alias or light coin) may be more profitable.

MINERGATE is a mining software that has the function of automatically selecting a combination of alto coins with the best mining efficiency, in consideration of mining fee and power consumption required for mining.

“Reference” electric bill of a mining pool

For individuals, it costs a considerable electricity cost for mining. What Is Bitcoin Mining?

So, how much are you investing in bitcoin mining in globally renowned huge mining pools such as Bitmain’s Antpool?

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