cost to mine bitcoin reddit

cost to mine bitcoin reddit

How Much Can You Make Mining Bitcoin Sept 2024

According to Jason Evangelho of Forbes after several months the hours spend on Bitcoin mining will transform into pure profit Given that you only mine for 20 hours that 83% of the day Most likely you will get $ per day You will approximately get $430 per year In 19 months you d have your GPU 1070 fully paid off

New York Signs Two Year Crypto Mining Moratorium Into Law

November 23 2024 2 36 AM · 4 min read New York Governor Kathy Hochul signed a two year moratorium on new permits for proof of work PoW cryptocurrency mining operators that rely on carbon based fuel to power their activities The law will prohibit Environmental Conservation Law permits from being issued for two years to proof of work

How much does it cost to mine bitcoin reddit DB Generator

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How Much Does It Cost To Mine Bitcoin Finscreener

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

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

How Much Does It Cost to Mine 1 Bitcoin Unfinished Man

If you can mine 1 bitcoin you can make anywhere from $30 000 to $60 000 depending on the state of the crypto market Keep reading our bitcoin mining guide below to learn all about the mining process what it takes to get started and what the ongoing and upfront costs are when it comes to crypto mining What Is Bitcoin Mining

Bitcoin miners r/Bitcoin

Bitcoin is unique among cryptocurrencies It s a commodity Every other cryptocurrency is a security 700 3 102 r/Bitcoin Join

Bitcoin Mining Calculator BTC Mining Calculator CoinWarz

Accurate Bitcoin mining calculator trusted by millions of cryptocurrency miners since 2024 Maximize Bitcoin mining profits and calculate ROI for new ASIC miners Bitcoin Mining Hardware Cost Electricity Costs TH/s 3 010 Watts $ per kWh Bitcoin Blockchain Mining Summary Bitcoin Blockchain Stats 764 351 Block Hieght min

Costmine Industry Standard for Mining Cost Estimating

If you value your time and the quality of your estimates our equipment data is for you Get budgetary capital costs for over 3 000 pieces of mining and milling equipment and a convenient source of hourly operating costs Learn More No More Guesswork Quickly Estimate Capital and Operating Costs Cost estimating data you can count on

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

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

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

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 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

yjjnls/awesome blockchain GitHub

A blockchain uses the block header Version TimeStamp Previous and the block data Transaction to calculate the new hash digest checksum Q What s a Merkle Tree A A Merkle tree is a hash tree named after Ralph Merkle who patented the concept in 1979 the patent expired in 2024

How to Mine Bitcoin Beginner s Guide 2024 Decrypt

Following the 2024 halving this is currently set at BTC per block but most miners generally receive much less due to working together as part of a mining pool Rather than buying or trading Bitcoin many individuals choose to simply mine their own since it often costs less to mine Bitcoin than it does to buy it on the open market

Venezuela s cheap electricity is a blessing for its Bitcoin miners

Mining firm Doctor Miner has a bank of 80 shoebox sized computers that each cost around 340 and mine Bitcoin 24 hours a day generating 8 500 worth of the token a month As El

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 Assumptions

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

Estimated Electricity Cost Of Mining One Bitcoin By Country Power Compare

39 countries have estimated electricity mining costs below the current price of one Bitcoin $11 455 And 80 countries have estimated electricity mining costs below Bitcoins s all time high $19 However as with many thing Bitcoin related the numbers above are rough estimates only Here is how they were arrived at

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

Average Bitcoin Mining Cost by State Payless Power

At a cost of just over $500 for each Bitcoin mining in Washington can earn profits of close to $7000 per month at current rates While it doesn t compare with some other countries in the world this cost benefit analysis shows that it may be worthwhile to mine in Washington However the efficiency of your rig will factor in here too

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 Does It Cost to Mine 1 Bitcoin Decrypt

In a recent report seen by Decrypt investment bank JPMorgan estimates that the production cost to mine one Bitcoin has dropped from $24 000 at the start of June to just $13 Bitcoin s production cost is an estimate of the average cost for mining one Bitcoin per day This cost depends primarily on the electricity costs incurred by miners for running their machines but there are other

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

Cost of bitcoin mining Bitcoin reddit

I think my current cost/bitcoin to mine is about $13 I just can t make enough of them now Many factors determine if it s profitable Your electricity rate GPU/device used and whether you undervolt/overclock etc I can tell you that with my 3x 5830 rig it s now about as profitable as it ever was with the current price

Bitcoin mini mining rig costs $875 lets owner mine from Starbucks CNBC

Research firm Technavio expects the overall market for global crypto mining hardware to grow by $ billion from 2024 to 2024 Abada says his business has grown exponentially in the last

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

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

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

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