How to Calculate Your ASIC Miner's Energy Consumption (2024)

FAQs

How to Calculate Your ASIC Miner's Energy Consumption? ›

Calculating Daily Consumption: Convert the power consumption from watts to kilowatts (kW). For the S19 Pro, it's 3.25 kW (3250W = 3.25kW). To determine daily consumption, multiply by 24 hours. So, 3.25kW x 24 hours = 78kW per day.

Determine your electricity rate (e.g., $0.10 per kWh). Calculate the daily electricity consumption in kWh (e.g., 3010W/1000 = 3.01 kWh for the air-cooled model). Multiply the daily consumption by your electricity rate to get the daily cost, then multiply by 30 for the monthly cost, and by 365 for the annual cost.

Typically, a rig will need at least 600 Watts of power to run one or two GPUs and several fans needed to cool down the hardware. Some more advanced rigs can draw well over 1200 Watts in order to maximize efficiency in both mining capabilities and energy usage.

The CBECI estimates that global electricity usage associated with Bitcoin mining ranged from 67 TWh to 240 TWh in 2023, with a point estimate of 120 TWh.

Description. Model Antminer S19 Pro (110Th) from Bitmain mining SHA-256 algorithm with a maximum hashrate of 110Th/s for a power consumption of 3250W.

Since 350 watts is a 35% portion of 1000 watts you would be charged 3.5 cents per hour to use your appliance.

For example, let's look at the Whatsminer M30S+, a machine which is closest to the Antminer S19 in terms of the ASIC performance. With a hashrate of 100 TH/s at a power consumption of 3400W, the Whatsminer M30S+ can mine about $430/month in profit at our low electricity price*.

One quintillion hashes. An exahash generally refers to mining Bitcoin and means that every second a collection of mining rigs is making one quintillion hash computations in total.

How Much Electricity is Needed to Mine 1 Bitcoin? As a solo miner, an average of 266,000 kilowatt-hours (kWh) of electricity is required to mine a single BITCOIN (BTC). This process would take approximately seven years to complete, demanding a monthly electricity consumption of about 143 kWh.

How much power does a Bitcoin miner use daily? ›

Note that the Bitcoin mining energy consumption stats are estimates calculated by research firms. How much electricity does Bitcoin mining use per day? According to the Cambridge Bitcoin Electricity Consumption Index, Bitcoin's daily power demand was estimated at about 20.08 gigawatt hours (GWH) as of March 25, 2024.

Mining Efficiency Formula

To calculate the minimin efficiency, divide the accepted shares from the sum of the accepted and rejected shares, then multiply by 100.

The Bitcoin network is made up of thousands of devices that mine 24 hours per day.

For example, a rig of six MSI GeForce RTX 3080Ti graphics processing units (GPUs) will be most profitable when mining Ravencoin (RVN) and bring around $170 per month. Zcash (ZEC) can bring in almost the same revenue while mining Clore (CLORE) can earn $158 per month.

Miners use specialized computers to solve puzzles around the clock to validate transactions and earn Bitcoin in return. All that computing power burns through a lot of energy.

Countries with largest share in Bitcoin mining are US, Canada, China, Russia and Kazakhstan.

Energy is defined as the capacity to do work, such as hashing (mining). If you run a 3,000-watt Antminer T17+ for one hour, you've used 3,000 watt-hours, or 3.0 kWh. In other words, 3.0 kWh is the amount of energy you need to run a T17+ for an hour.

How Much Electricity is Needed to Mine 1 Bitcoin? As a solo miner, an average of 266,000 kilowatt-hours (kWh) of electricity is required to mine a single BITCOIN (BTC). This process would take approximately seven years to complete, demanding a monthly electricity consumption of about 143 kWh.