Vosk from
VoskCoin recently made a breakdown of what is needed to mine 1
BTCitcoin in 2020, in terms of hardware, electricity cost and consumption.
He gives 2 examples in his video and shows you how to calculate the cost & profit of mining, depending on your setup:
https://www.youtube.com/watch?v=5V_Ap0Iy_M0BTCitcoin stats at the moment of analysis:
- Total BTC in Existence - 18.227.850
- BTC left to be mined - 2.772.150
- % of BTC issued - 86.799%
- New BTC/Day ~ 1.800
- Price ~ 9.545,08 USD; calculated before the drop caused by the pandemic.
BTCitcoin Miner used in example:
Bitmain Antminer S17+ (73TH) -
https://www.asicminervalue.com/miners/bitmain/antminer-s17-73th
In the
first scenario, he calculates residential mining on the following values:
- 4 miners with a total Hashrate of 292 TH/s
- Block Reward - 12.5 BTC; price includes the BTCitcoin Block reward halving. ETA - 13 May 2020
- Power Consumption - 11.680 W
- Power Cost - 0,1 USD/kWh
- Hardware Cost ~ 10.000 USD; including building up some electric infrastructure.
- Exchange Rate - 9.701,12 USD to 1 BTC
Monthly Profit =
516,21 USD;
Mined BTC = 0.140978;
Electricity Cost = 836,76 USD
Yearly Profit =
-101,39 USD;
Mined BTC = 1.036189;
Electricity Cost = 10.180,52 USD
In the
second scenario, he considers a tiny mining farm with:
- 8 miners with a total Hashrate of 582 TH/s
- Block Reward - 12.5 BTC; price includes the BTCitcoin Block reward halving. ETA - 13 May 2020
- Power Consumption - 23.360 W
- Power Cost - 0,05 USD/kWh
- Hardware Cost ~ 20.000 USD; including building up some electric infrastructure.
- Exchange Rate - 9.701,12 USD to 1 BTC
Monthly Profit =
1.860,91 USD;
Mined BTC = 0.280991;
Electricity Cost = 836,76 USD
Yearly Profit =
9.782,12 USD;
Mined BTC = 2.065281;
Electricity Cost = 10.180,52 USD
Summary & Resources:In the case of residential mining, considering the average power cost of 10 cents, you will end up paying 1 BTC in electric bills for mining 1 BTC over the next year.
If you start upscaling the nr. of miners and reduce the electric cost to an average of 5 cents, like in the case of mining farms, you can expect to see profit depending on the values.
Calculator Tool: https://cryptomining.tools/calculatorASIC Miner Value: https://www.asicminervalue.com/Bitcoin Stats: https://coinmarketcap.com/currencies/bitcoin/Bitcoin Halving: https://www.bitcoinblockhalf.com/VoskCoin Youtube: https://www.youtube.com/channel/UCT44w6854K62cSiwA1aiXfw/featured