What Does It Actually Cost to Mine a Bitcoin?
Hence why it's impossible to mine Bitcoin in urban areas. In NYC, Con Ed rates are 18 to 22+ cents per kWh. In order to operate at a profit, electricity rates must be below 9 cents per kWh.
Good breakdown - mining cost isn’t fixed; it mainly depends on energy prices and efficiency, and keeps adjusting with network difficulty.
Hi
Hence why it's impossible to mine Bitcoin in urban areas. In NYC, Con Ed rates are 18 to 22+ cents per kWh. In order to operate at a profit, electricity rates must be below 9 cents per kWh.
Good breakdown - mining cost isn’t fixed; it mainly depends on energy prices and efficiency, and keeps adjusting with network difficulty.
Hi