Quote from: mike4001 on March 24, 2018, 07:09:00 AM

Quote from: bitebits on March 23, 2018, 10:59:06 PM

Bitcoin is dead (Spoiler: hashrate more than doubled in just three months. Wow.)

https://blockchain.info/charts/hash-rate?timespan=all

Does anyone know what electricity costs are at the moment for big minigpools ?

Sometime ago I read about 3000 USD per BTC

But when the hashrate doubled so must electricity costs ;-)

This figure is nonsense.

There is better investment oportunities than mining bitcoin at the present price never lower.

What you should be asking is why dispite that fact are there large mining investment still going strong.

Here is a small hint and it has very little to do with power costs. Legal tax avoidance by reinvesting into mining the portion that would have been paid in tax.
To produce one bitcoin a day using the latest hardware from Bitmain would take an investment of $2,366,417.19 USD or about 250 BTC to secure a quantity of 1,020 S9 13.5 TH ASIC mining units. That equals a total hash rate of 13,770TH or 13.77 PH.

As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 edit if your pa $0.10 per kwh and still have to pay back hardware costs never mind other overhead costs - There are far better investments you can do than invest 2.3 million USD instead of hardware.

At 0.03kwh there is profit at 9500 if you factor in power and hardware but even still that doesn't include any other overhead.

However those that do mine know that BTC at this price is a buy opportunity rather than investing in hardware.

Document: https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharing