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"GrokX: Revolutionizing the Crypto World with Meme-Themed Currency, AI Integration, and a Journey to Mars"
Auradine Unveils New Teraflux Miner With 375 TH/s Capacity
Greetings Community I have an Antminer S19 XP with 140TH/s I intend to choose between two cryptocurrencies to mine: Bitcoin (BTC) or PEERCOIN (PPC) I'm open to new cryptocurrency suggestions to mine besides the two Which cryptocurrencies would you choose to mine?
Plusonecoin, based of the bitcoin block chain, suffered a 51% attack.
Financial Unsustainability of Bitcoin Mining and Likely Industry Consolidation
Latest generation bitcoin mining rigs are debuted to in Dubai addressing climate variations in mining ops & ESG for investors
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Cambridge Bitcoin Electricity Consumption Index updated to reflect hardware distribution and hash rate increases
"How does a Ponzi scheme with cryptocurrencies work?"
Once again this year a solo BTC miner has won a block reward
Bitmain Introduces the Antminer S21 and S21 Pro with Unprecedented Energy Efficiency
Could Bitcoin be our best chance to mitigate runaway methane emissions?
Could Bitcoin be our best chance to mitigate runaway methane emissions?
IceRiver KAS KS0 – 100GH/s – 100w
📸 What do the 13,536 TH/s hashrate added to the bitcoin network look like? Mining company Simple Mining showed their new container filled with S19 XP 141 miners
Auradine Unveils Teraflux, New Line of US-Crafted Bitcoin Mining Rigs Providing Up to 270 TH/s
Playa3ull Games | Nexus 5v5 Third Person Moba Shooter Defend your NEXUS at all costs!
190TH/s of FREE mining❤️ securing the “hardest” asset on earth. Nbd
Litecoin saw an eventful quarter as it set a new record in its transaction count (500,000 daily transactions) + all-time high hashrate
Litecoin saw an eventful quarter as it set a new record in its transaction count (500,000 daily transactions) + all-time high hashrate
Launching zkSync Labs: Redefining Trading on zkSync and ETH Blockchains
Solo Bitcoin Miner Wins 6.25 BTC Block Reward With Just 17 TH/s
Massive reward pool on Bitget owing to the listing of Ethos ($3th)
GEAR 5 - ギア5 | Today 30th May 6pm Utc | Luffy's Awakening | Bring Anime Season Back!
GEAR 5 - ギア5 | Luffy's Awakening | 0% Tax & Renounced | 30TH MAY 7PM UTC | Bring Anime Season Back!
GEAR 5 - ギア5 | Luffy's Awakening | 30th May 7pm Utc | 0% Tax & Renounced | Bring Anime Season Back!
Canaan Unveils Avalon Made A1366I: A Powerful and Efficient Immersion Cooling Miner with 165 TH/s Hash Rate
Microbt Unveils New Whatsminer Mining Rig With 320 TH/s, Setting New Standard for Hashpower – Mining Bitcoin News
Bitcoin hashrate peaked ~491 EH/s today. How many miners is that?
The math of mining before and after the upcoming halving
Heater that claims to pay for itself by mining bitcoin
Not sure why exactly, but ENS E.TH names zero cost to register today.. Special occasion, or ? I took carlyrae.e.th. So what can we do with these, or is it just pure vanity? Well, free is free
[SERIOUS] MOON MC growth potential by still being unknown to many people in general [MONS, ANALYSIS, DISCUSSION]
BTC | Chart Analysis | Meme of the Day | Passive Income | How to Earn Free Crypto | 27TH FEBRUARY 2023
Bitcoin Mining Reward Sustainability - Can it survive the next few cycles?
Solo Bitcoin Miner Solves Block With Hash Rate of Just 10 TH/s, Beating Extremely Unlikely Odds - Decrypt
Solo Bitcoin Miner Solves Block With Hash Rate of Just 10 TH/s, Beating Extremely Unlikely Odds - Decrypt
What do you think are the factors that affect the purchase of mining machines?
As block rewards diminish, how will the network be incentivized to remain secure?
Gnosis Chain Merge - UPDATE YOUR NODES BY NOV 30TH
FifaCup.Win -Presale On PinkSale 18TH NOV 13:00 - Presale Time Duration only 2 hours- Live Match Streaming- SC/HC 50/100 - BlockSafu Audit
20x increase in adoption required to sustain network security after all coins are mined?
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FifaCup.Win - Secure betting on your favourite FIFA WC 22 Team - Presale On PinkSale 17TH NOV 14:00 - Live Match streaming - BlockSafu Audit
FifaCup.Win - Secure betting on your favourite FIFA WC 22 Team - Presale On PinkSale 17TH NOV 14:00 - Live Match streaming - BlockSafu Audit
Community Coin Looks Like It's Ready For Its Next Run - Founder's Last Coin Ran To 100M MKT CAP
DO NOT MAKE THİS MİSTAKE AS ME........
New Bitcoin mining Hash Rate ATH: It breaks over 240 million TH/s.
New Bitcoin mining Hash Rate ATH: It breaks over 140 million TH/s.
Debunking "hashrate is higher, so security is higher"
Live Auction - ASICMiner Block Erupter USB Sapphire Bitcoin Miner Complete Collection
Bitcoin hash Rate( TH/s) touch the ATH despair all day FUD. you can't stop Bitcoin 🚀
The merge ETH 3 BTC halvings only fools will be left behind
50,000TH BTC hashrate for lease, Extremely affordable price! DM for pricing.
$BARFIGHT - AMA with Venom Call and Bruiser Call, 4pm - 5.30pm UTC | Massive marketing kicks off! Cmc, Cg listings in few days! - 196k low marketcap! Rug proof!
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Europe, and especially the UK, is about to be priced out of the mining game.
Vitalik Says The Merge’s Exact Date Will Depend On Hashrate
Sumo Gorilla | (ERC20) | | Fair Launch 4Th August 7PM UTC |
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Mentions
ROSE 79TH coin in market cap and climbing solidly 🚀
GeForce GT 720M release date April 1, 2013 hashrate: Bitcoin / BTC (SHA256) 23 Mh/s 57 TH/s at the release date. 298 TH/s by 1st of August. you were 1 in 2 million when it was released. 1 in 12 million in August. if you were mining 24/7 in 2013 on that lappy, you'd have about 0.2 btc.
Holy crap that's a lot! I'm using Braiins on my S19 XP but I'm not impressed. I did the auto tuning and it still runs at 3010 watts for 141 TH. Plus when I switched to Braiins Pool from nicehash, my rewards started sucking. So I'm guessing you recommend Luxor? How the heck do you cool at 180th?? Immersion?
Near zero electricity costs as long as it's not more than 1 miner. But you're missing the point. Don't think of it like a regular business with profits, think of it like how much you're paying for your bitcoin. I promise you that right now it's less than the market price. Example: For my S19 XP 141 TH Assume an electricity cost of $0.10 per kw/h You'd collect about 0.01 bitcoin per month At $37k per bitcoin, buying it costs $370 Mining it costs $216 for that 0.01 btc Now let's say the price doubles. Then your cost to buy doubles but your cost to mine remains the same. Your price is fixed. Of course the mining difficulty is going to increase and an S19 XP won't be worth it forever. But for now it is and I'll upgrade when necessary. It's not about profits. It's about how the f$&# do I stack sats when I don't have any more money? I mine it.
Its confusing im pushing it from 82TH to 95TH and temp raises from 60 to 68 C degrees. Only 8 degree jump? I'm using Braiins OS is it reporting chip temps correctly?
Current mining target x045A120000000000000000000000000000000000000000 Divide the target into 2^256 for average number of hashes per block 277796658208 terahashes per block Assume most miners have now upgraded to S19XP, 21.5J/TH 277796658208 * 21.5 / 1 million = 5972628 megajoules per block There are 3.6 megajoules in a kilowatt-hour 5972628 / 3.6 = 1659063 kW-hour per block 265450 kW-hour per Bitcoin So far so good Going back to megajoules 5972628 megajoules per block 6118 MJ in a barrel, with 38% generation efficiency 5972628 / (6118 * 0.38) = 2569 barrels per block, 411 per Bitcoin > equipment to convert the oil to electricity AKA, generators But the cost of the generators and mining boxes is a capital outlay. Their depreciation is an ongoing expense. So is maintenance. It seems you're proposing to burn crude oil in a generator - not impossible, especially using a turbine, but high maintenance > either the price of oil should be higher It is volatile, recently $200 due to the posturing war between Russia and NATO Iran can't sell much of its oil due to sanctions. It burns oil at the extraction cost (about $10 per barrel) for electricity generation. Bitcoin mining in this electricity market boomed a few years ago, until the government noticed that they had no spare generation capacity. Unlimited fuel, but not unlimited capital An old comparison: when South African was under sanction, it was spending $40 per barrel to convert coal to oil. That was expensive. The crude price did not exceed $20 until the first gulf war > or the price of bitcoin should be lower Or maybe you're suggesting that when the Bitcoin price was $20k only 8 months ago, an oil company should have predicted it would be $36k today --- Other things When a more efficient mining device hits the markets, those who upgrade first get a profit boost. As more and more upgrade, those who haven't upgraded move from profit to loss. The S21 device arrived in May 2024, burns 26% less electricity than the S19XP. Knowing this, nobody should expect a long-term profit from buying a S19XP today On 2024-04-24, Bitcoin mining pays 50% less per block This changes your crude oil calculation from profit to loss
Minor nitpick: it becomes more difficult with higher hashrate, but only if the cost for hashrate remains constant. In other words, I think security proportional for the cost to obtain "a significant portion of the total" hashrate, as well as operational costs to deploy and run it. If you figure 500 EH/s (>50%), and that Bitmain likely produces S21s for around $10 / TH/s (they sell them for $20) -- that's around $5b in costs to get sufficient hardware. Then they'd need to energize 2,500,000 machines, each drawing 3.5kw of energy... or about 8.8 GW of power. Obtaining that amount of energy is quite expensive. Although, running it all is relatively inexpensive. At $0.02 / kwhr, it's only $15m / day.
miners can use different methods to reduce capital expenditures and operational expenditures as well as improve ASIC hardware lifespan for miners with intermittent power supplies. Some of these methods include using dynamic voltage and frequency scaling using power capping, and using power-aware load balancing . AThe profitability of mining depends on the hash rate, power consumption, and power cost of the hardware. Miners can use online calculators to compute and track the profitability of Bitcoin mining in 2021 for example, using the default values of the website, a Bitmain Antminer S21 Hydro with a hash rate of 335 TH/s, a power consumption of 5360 W, and a power cost of $0.21/kWh can generate a daily profit of $13.59. However, if the power cost is reduced to $0.10/kWh, the daily profit increases to $24.79. It can be absolutely strategic to shut miners off when needed factoring in operational circumstances. They can literally almost double their profits if they go 100% online during off peak hrs while remaining partially dormant during peak hrs.
Currently solo mining is more profitable if you have a very high hashrate, above 200TH/s. If you have a hashrate greater than half the network difficulty, you have a chance of finding a valid block in each block. However, the probability of having such a high hashrate is very low With 200TH/s, Pool mining is more recommended
It's not Hashrate 418.761 Ehash/s -6.18% in 24 hours The hashrate increase to 400E+ is due to the easy availability of S19XP devices which burn 21.5J/TH, 30% less than the previous S19 models. This device upgrade action is ending soon, because May 2024 brings availability of S21 devices, 26% less energy than S19XP S21 upgrades will be slow, due to constrained availability. Also, they arrive after the halving. The hashrate will be driven down by the halving more than up by the 25% energy reduction
because \>394.34M TH/s for Nov 06 2023
I’m too high to check, but this is what chatGPT says when I ask if your math is correct: > The math is not correct in this case. > When comparing the hash rate of Bitcoin, it's essential to use the appropriate unit conversions. In May 2013, the hash rate was indeed around 1.5 Terahashes per second (TH/s), which is equivalent to 1,500,000,000,000 hashes per second. However, when the current hash rate is 543,000,000,000,000,000,000 hashes per second, and you divide it by the previous hash rate, the result should be much larger than 362,000,000. > The correct calculation would be: > (543,000,000,000,000,000,000) / (1,500,000,000,000) = 362,000,000,000 > So, the Bitcoin mining network is approximately 362 billion times more powerful in terms of hash rate than the combined computational power of the top 500 supercomputers that existed in May 2013.
S19 is already obsolete. S19XP uses 30% less energy per TH. S21, just announced, delivery just after the halving, uses 26% less than S19XP. You'll never recover the cost of your S19 because of the combined effect of the halving and everybody else adopting the S21
I'm mining with a single S19 XP 141 TH. I'm making 0.0003 BTC daily. I think of it as the price of electricity is my price for bitcoin. I converted a hodl portfolio to buy the equipment. It's modified to use a single large fan which is much much quieter. It also has a large filter box making sure the air is clean and less maintenance is required. I also have silencers I can add to reduce the noise even further. The install is in a cabinet mounted high on my wall with an exhaust out a window. It's mounted in my gym and doesn't take any floorspace.
S19 what? Cause a standard S19 will pull 110TH/s and 3350 watts of power leading to only .0022 btc lines daily or $7.65 a day btc over a cost of 3.12 To hit .004 you’d need a hash rate of over 200. So I am VERY skeptical of hash rate unless you are in a pool, then You’d have to deduct a % from earnings, sometimes over 20% but your hash rate may finally get to where that is possible to pull .004 a day… If you’d sell to pay for electricity the exchange fees are plus destroy profit. You’d have to pay for electricity for first 12 months. I’d really recommend playing it safe as that’s not even factoring amortizing cost of the miner (unless free). Over 36 months and avg cost of $1500 for miner being $41/month and electricity being $94.9 a month, bringing total cost to $135 a month. You would need “break even after 17 days” but that’s not factoring fees if you wanna sell. So yes, with the price going up it’s a great long term investment but you seriously won’t be able to pay for itself till like month 6…so make sure you got at least $700 to cover costs (including amortization of miner, again assuming you paid for it)
I am making a nice profit. Low electricity costs helps a lot. I have an S19 XP so I'm averaging about 142 TH. What I love about mining is that it's price agnostic. Of course the block reward and the mining difficulty affects output, but I'm still on the profitable side. I'll definitely be laughing if we get an ETF approval price spike.
Not really. The hash rate fluctuates wildly from day to day But the mathematics is simple if you understand arithmetic To simplify, assume that by now, the 2022 devices dominate. Their energy burn is 21.5J/TH The global hash rate is reported in thousands of places, eg https://bitinfocharts.com/bitcoin/ 432.621 EH/s If you're serious, you can discover these two ratios * Joules in 1 MW-hour * TH in 1 EH Seconds per block is 600 Bitcoin per block is 6.25 (but only for 177 more days) For slightly better accuracy, use the mining target number to calculate the average number of hashes per block average hashes per block = 2^256 / target This eliminates the 600 seconds per block assumption, and the daily hashrate fluctuations. But the numbers are pretty close between both methods Then the calculation has to be redone every 2016 blocks
I bought some nft btc miners on Gomining. They have been sending my rewards to my wallet so that’s good lol. Don’t know if it can be eventually a rug pull but my research shows it can make you some descent btc passive income. The one thing that gets me interested is if btc does have a nice bull run the nft will increase significantly and also the fact that you don’t have to replace your mining rig if it goes down or repair it. Really gives the people that’s can’t afford mining rigs to get at least a small piece of the pie from your phone. Prices start at $20 for 1 TH/s
If miners getting half the reward when halving comes why are 80-120TH mining rigs still so expensive? Miners will have to upgrade to faster machines 140-200TH but those older machines are still hundreds of dollars some even thousands why?
An S9? The website did say it's 10 TH/s and I was not expecting that kind of hash rate. I was expecting like a few hundred GH/s, maybe 1 TH/s tops. I was thinking I could buy two of them with that kind of hash power and the added convenience of a space heater, which is what I'm considering now but with a real ASIC miner. The bitmini says it runs on 400 watts, which sounds unbelievable, cause the S9 runs on 1300 watts. So I am wondering how that is possible, they couldn't just reduce the power consumption, cause it wouldn't make it run more efficient. So something isn't adding up. I'll have to look more in to the unit.
>Nonsense. There's no economy of scale in Bitcoin mining. There are economies of scale: 1) Electricity purchasing (Ability to acquire PPAs, participate in demand response programs, etc) that mean you probably need to be at least 50MW to have the cost structure. 2) Equipment purchase discounts (obviously) 3) Apetite for thinner margins >This is based on an analysis which doesn't expect massive miner retirement. Its a sensitivity analysis. Its showing a pretty broad range of scenarios including 100-125 TH being pulled offline. However youre ignoring the second order series of events. Miners go offline. Strong performers acquire outdated equipment and facilities at a discount. Ramp up to squeeze additional cash flow. Hashprice is designed to operate on the edge of profitability.
TH/s (TeraHash) 1,000,000,000,000 One Trillion Hashes per second PH/s (PetaHash) 1,000,000,000,000,000 One Quadrillion Hashes per second EH/s (ExaHash) 1,000,000,000,000,000,000 One Quintillion Hashes per second ZH/s (ZettaHash) 1,000,000,000,000,000,000,000 One Sextillion Hashes per second!!
Can you run a antminer T19 84th with Braiins at 90.5 TH safely? The temp is what matters correct? Its right at 70 C degrees. Im I taking a chance damaging the unit?
BTC and 3TH up 10% + *My pants are wet*
Pro+ 117TH didn’t exist two years ago, they’re a pretty new release. End of last year iirc.
6$ per TH So yes 1300 is fair
I recently got into this with an S17 Pro and some tinkering/learning. There is a great home-miner community forming, and people around with great advice. I say this, because I think we're right on the edge of an explosion of home-mining, and as you say, especially in the area of space-heating (at least the primary first application focus in the community). You'd have to do the math for the electricity rates in your area and estimated hashrate, but an S9 is probably going to be best bang for the buck, because they can be purchased so inexpensively. In terms of commercial hardware, I decided on the S17-series, as they weren't a whole lot more money (under $400, but I got mine upgraded with single-piece heatsinks and refurbished), but get me much closer (or above) breakeven on the electricity costs. If you're wanting to make money, then the S19-series. I've heard the S19k Pro is about the peak of efficiency & output for the money. I'm assuming you'll be running 110v, so that will limit your options. There are mods available to make the S19-series work, or use hashboards from them (rather than the entire unit), under-clocking them. But, IMO, that's a lot of money to spend... as you say, thousands. My S17 Pro can run off 110v (the power supply can do 110v or 220v) once under-clocked (you have to unplug hashboards until you get it set). I think the S9 can do 110v off the shelf as well. There are also going to be a bunch of open-source and other options coming onto the market over the next year, which you might want to consider (more on this below). A couple important things to keep in mind: Noise These things, stock, are crazy noisy. Even if in a crawl space or outside in a shed, it would be problematic if you have neighbors (if you could stand it yourself). I've done quite a bit of work on noise. You can buy better fans, with a couple options getting it reasonably quiet (still louder than I'd like). The S9 can probably be quieted easier than mine. I decided to go with an inline Cloudline fan, so I have that extra cost (plus a controller, plus a shroud to connect it). For a crawl space, you can probably get by with replacement fans, as some noise might be OK. Safety You're dealing with relatively high-power stuff here. If you search for some video examples, you'll see that if some components or the board goes in one of these things, it can create spark showers (and the high-speed fans shoot them out). You have to think through the wiring, enclosure, etc. especially if you're going to let it run constantly and/or unattended. I'm only going to run mine when I'm home, as I'm building it into a cabinet for in-the-house use. Coming options... Jack Dorsey's company Block just announced this yesterday: [https://www.mining.build/meet-the-mdk-hashboard/](https://www.mining.build/meet-the-mdk-hashboard/) There is a huge opensource effort underway, including control boards, power supplies, and hashboards (as well as smaller scale whole units) at various prices, complexities, and power-levels under development. A few initial units have already been released and are being produced: [https://bitaxe.org](https://bitaxe.org) The Bitaxe is a 'product' line of sorts (remember opensource), but they and others are working as part of Open Source Miners United. I don't think they have a website ready yet, or I'd point you there. But, there is a link to the Dicord server on the Bitaxe site. Basically the Bitaxe uses chips from the S17 and S19 series to create little miner units. The first two are 0.3 to 0.5 TH/s single-chip miners, but they use less than 15watts (they are the efficiency levels or better than the S17/S19, just scaled down). It looks like they might be getting close to the first 6-chip unit, which should be \~3 TH/s at under \~90w. Those are exciting, as they are things you could run on your desk w/o any special setup (though limited use as a space heater). But, I'm sure we'll see more chips or multiples of these units made into products at various scale. Or, using a single hashboard from an X19 with an opensource controller and powersupply could create an interesting unit, as well. Hope that gives you some starting points!
Anyone know Braiins OS? I have a antminer T19 84TH the normal factory Watts is 3150. When I set the hashrate target to 85 after tunning I get 2930 Watts. Can I keep increasing hashrate target until I reach 3150 Watts? Chip temp is at 70 degrees how far can I go safely?
I always explain BTC as a lottery. TH are lottery tickets. The more TH you have, the more lotto tickets. Just like the lotto, there are no guarantees.
That's interesting. What if anyone use a BTC miner? How long does it take considering an hashing power of 100 TH/s
>Eventually, the hash rate falls towards the level where it can be supported by non-profit hobbyists. Exactly my thought as well! Although, I believe real total hashrate may end up being higher than that, as a lot of people/ companies will want to run their own nodes for business purposes. The same is true for governments, workers' unions, etc. >The number of miners will be determined by how many people want to earn $5 of Bitcoin for $10 of electricity per month and can get access to the 2TH boards Is it possible that transaction fees could stabilize around a level where most miners break even? Or a trickier scenario, where, as Bitcoin gradually becomes the global unit of account, energy gets repriced to a level that corresponds to minimal transaction fees on the BTC network and that makes miners break even? I can't wait to have the space to set up a small mining operation on my property! I've been wanting to run a meaningful node for years, but can't due to the limitations of living in a rental apartment in the city.
The XP is made by Bitmain not by Asic 😂 Also TH/s and EH/s is terrahash per second and exahash per second not terabyte/exabyte.
> we'll eventually see for-profit mining disappear almost entirely Maybe sooner > tipping point Halvings are a gradual reduction. There isn't a definable tipping point. I expect price falls will make sudden tipping points, shutting down a lot of hashes, independently of the halving schedule > it'll become harder and harder for companies to justify large capital expenditures for mining operations Big companies will disappear after the next halving. Bitcoin mining is uneconomic at large scale. The economics favors a small operation run by a skilled electrician with less than 10 low-wage assistants monitoring the hashing and doing hardware repairs - hash board swaps, and chip replacement on faulty hash boards. At that scale, there are no lawyers, consultants and entrepreneur CEOs ripping millions out of the shareholder capital. In a large corp, administrative costs are higher than gross mining profit, making a net loss > the hashrate might peak sometime between now and that moment Not really. The hashrate has to halve after the next halving, unless the price doubles. So it's possible the hashrate could top 500E if the price increases far enough. A side note: the Antminer S21 brings a 26% energy saving per TH, so the post-halving hash rate is -50% +26% +price increase (or -price decrease) The fake 4-year cycle (popular myth here) assumes the price doubles after the halving. A price doubling in late 2024 or early 2025 is not impossible, but much less likely than the 2017 price surge, because the supply of gullible FOMOtards has pretty much dried up --- Eventually, the hash rate falls towards the level where it can be supported by non-profit hobbyists. The 400-chip ASIC boxes will be sold off for pennies, and the boards wil be scavenged for chips. A typical hobby miner will use a 4-chip board hashing at about 2TH/sec. This will burn about 20 watts, so the miner won't care about making a loss. The number of miners will be determined by how many people want to earn $5 of Bitcoin for $10 of electricity per month and can get access to the 2TH boards
tldr; CleanSpark Inc. has acquired 4.4 exahashes per second (EH/s) of the new Antminer S21 bitcoin mining machines. These machines are expected to increase CleanSpark's mining capacity and drive down energy costs per bitcoin mined. The S21 is 20% more efficient than the previous most efficient bitcoin miner on the market. CleanSpark expects to achieve an operational efficiency of 23.5 joules per terahash (J/TH) once all machines are installed. The machines are set to start arriving in January 2024. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
There was a disruption in miner supply through 2021, preventing the hash rate following the price up. In 2022, new devices slowly became available, with 21.5J/TH efficiency, 30% lower than the previous devices Some rough numbers Using October 2020 as a benchmark - before the price surge, before the miner device shortage - 130EH/sec corresponds to a price of USD10,600 Apply that ratio to a price of USD26,800 gives a hash rate of 330E. Add 30% for the more efficient devices makes 429E, pretty close to where it is today > Is this the hardware ordered during bull market in 2021 and early 2022 finally delivered? That was delivered in 2022, and most of it was the less efficient devices, because most of those orders were made by newly Nasdaq listed corps. The production of 2022 21.5J/TH devices was initially slow to ramp up. By now every miner has to upgrade or lose money
I mean, even an s17 or s19 is going to start feeling the crunch, but yes, the landfills will be filled with sub 50TH miners soon enough. Hopefully they get recycled properly.
I mean, best time to buy buy miners is when the cost of BTC is down. TH is priced in line with BTC's price, so BTC goes up, ASIC costs go up.
In a simplified way, at this moment BTC total hashrate is about 450M TH/s. Antminer S21 has 335TH/s. So you d need more than 1.3 million of those antminers for 50%+ hashrate. They would consume 7.2 Giga Watt per hour. A nuclear powerplant generates 800-900 GWh per year. You arrive at ridiculous numbers that only have theoretical applications. And all this, you need to get asap, because the total hashrate is going up constantly. Just to get all the hardware to have 51% hashrate, would be like asking tesla to make you a billion cars within a month. That s how you can explain this easily.
We're currently at 450EH/s approximately. Now let's assume for simplicity that the hashrate doesn't change over time and that the block rewards don't get halved every 4 years. So 450e18 H/s will roughly mine 6.25BTC/600secs, so 1BTC/96secs. Your share of the total hashrate is (32TH/s)/(450EH/s) = 7.11e-8. So let's just say 700 million times slower. So it should take about 96 secs * 7e8 = 6.72e10 secs to mine 1 BTC. In a year we have 60*60*24*365 = 31536000 seconds, so that's roughly 6.72e10/31536000 = 2130 years.
Costs: $21.000 Energy consumption: 2200w/month Hash rates for mining Bitcoin, Litecoin, and Dash are 4900 TH/s, 2200 GH/s, and 100 TH/s respectively Monthly profit: $8.800-$17.000
> The product’s hash rates for mining Bitcoin, Litecoin, and Dash are 4900 TH/s, 2200 GH/s, and 100 TH/s respectively. These figures have not been replicated so far in the history of the thriving crypto industry. > >This miner can generate monthly profits of $8,853, $19,700, and $17,400 while mining Bitcoin, Litecoin, and Dash, respectively. If only i had free electricity.
That’s the funny thing about Doge. It actually ended being a perfect accident that _does_ do what it was intended to do. Even when it comes to something like network security, like Bitcoin, hackers would need to control 51% of the network's hashing power to alter the state of the blockchain. And considering the current Dogecoin hashrate is 203.97 TH/s, this is very unlikely. Even the meme status brings a couple benefits. It’s possibly the only thing in the top 10 that doesn’t really need a reason to go up. It’s been around for 10 years, been through bear and bull markets.
Close to 50% , however the majority 4/5TH is Reddit wallets.
You can still mine NEXA and even KAS and be pretty profitable at the moment. I’m not sure what NEXA will do in the future, but I have very high hopes for KAS. My KS0 is making overtime and still profitable, even now the TH/s miners entered the space.
You are replying to the wrong person. I didn’t post any of that. But I do love a good discussion so I’ll bite. > Not really. In either case, 51% of the network's consensus would need to be compromised. The difference is PoW is measured in hashrate and PoS is measured in coins staked. The main difference is the security mechanism. We have seen countless assets and commodities get cornered in traditional markets. BTC and ETH are both susceptible to being cornered. I would argue, it’s much much more difficult to corner a commodity than a security asset (takes entire countries to corner the oil manufacturing vs hedge funds and M&A firms have cornered multiple securities). > Based on what? Anyone can run a node pretty easily for either chain. The cost of running a miner vs running a validator is probably in Ethereum's favor, considering how many TH would be needed to reliably solve solo blocks, and the ongoing electrical costs associated with that. Neither BTC or ETH are great at pruning data. The requirements for ETH however, are much much more higher due to the size of the entire network state. BTC had the block wars for a reason. ETH took the idea of block wars and just made it even more bloated with smart contracts and huge swaths of storage from the VM. This is comparing apples to oranges at this point. You lose decentralization as soon as you start pruning data to be able to run a node. Running a full node on ETH is much more expensive than running one on BTC. (10-20x more expensive). Does this affect decentralization in a way that actually matters? Probably not. They both are quite decentralized when referencing other things in this space, > It does not have a central authority. EIPs are enforced exactly the way BIPs are. By miner support. It has a roadmap from a foundation that created the asset. It has more of a central authority than BTC (I mean BTC has BTC core that dictates a lot of the upgrades let’s be honest) but it also has vastly less control over everything else than say The Fed. Point is, they are both pretty adequate. One is just more adequate when using core crypto principles as your root of argument.
> ETH is less secure because it uses PoS Not really. In either case, 51% of the network's consensus would need to be compromised. The difference is PoW is measured in hashrate and PoS is measured in coins staked. > less decentralised since it more difficult to reach the requirements to run a node? Based on what? Anyone can run a node pretty easily for either chain. The cost of running a miner vs running a validator is probably in Ethereum's favor, considering how many TH would be needed to reliably solve solo blocks, and the ongoing electrical costs associated with that. >It has a central authority so it is not neutral and it's monetary policy keeps on changing. It does not have a central authority. EIPs are enforced exactly the way BIPs are. By miner support.
Ok, I’m gonna do your dd for you: your welcome Hashing Power: 6.7 PH/s (335 TH/s * 20) Power consumption: 107 KW (107 kWh per hour at 100% uptime) Network hashing Power: 400 EH/s Revenue: 6.3 Bitcoin per year or 170k (this will half next May) assuming 100% uptime Miner cost: $400k US (around $60/ TH) Now here’s the fun part, solar will run at around 20-30% efficiency, therefore a 100kw system would allow your miners to run for 20-30% uptime, and would also cost somewhere in the region of $200k, this will effectively reduce your revenue to around 2 Bitcoin a year, best case. Now let’s think about where your gonna store the miners, plus how your going to secure your $600k worth of equipment? (No insurance company in the world will give you cover for this btw) In summary, your cost of setup is around $600k which will return you 2 Bitcoin per year ($50k a year) (and that’s before next years halving or assuming any difficulty increase) How about buying 25 Bitcoin with the $600k investment ? Might be safer
\>Have you included the fact that the halving happens next year and that for btc rewards are reduced? I will try to compensate the reduced rewards with the newest most efficient high hash rate ASIC. Antminer S21 Hydro will give me 335 TH/s with 16.5 16 J/T. \>Also, how will you cool the water for the miners if the radiators connected to the water system only have dessert air to cool them. Hmm.. I haven't thought of this yet.
You can buy and S9 for a few hundred bucks and get 10+ TH...
Bitcoin mining uses energy. Bitcoin itself uses less energy than your phone. Bitcon mining energy calculations are possible, but are only estimates, because there's no way to know how many miners are using which ASIC. We know the Joules per terahash consumed by each model of ASIC box, but we don't know how many ASIC boxes are S19/S19Pro/S19J (28.5J/TH), how many are S19XP (21.5J/TH), how many are not Bitmain - Canaan, MicroBT, Innosilicon We know how many hashes, because the Bitcoin mining automatic target adjustment defines the size of the target range, which in turn defines the average number of hashes required to win a block average number of hashes per block = size of SHA256 number domain ( 2^256 ) divided by size of target range
> Does the supply shock really matter? There is no supply shock. The reduction in supply due to the 2024 halving is less than 0.2% of daily trading volume > As you upgrade, wouldn't it make it more efficient to mine so that would actually decrease the cost to mine? It actually encourages all miners to upgrade, and new miners to join with the more efficient ASICs, splitting the constant daily reward among more miners. The cost saving is wiped out by the revenue fall Instead of upgrading miners having better profits, miners who don't upgrade flip from profit to loss The most recent efficiency increase is now so long ago that most miners are now using the most efficient ASICs, and those on the previous generation are running at a loss Many of the Nasdaq listed Bitcoin mining corps bought S19J or S19Pro because the boxes were cheaper to buy. They're now all losing money, burning through their shareholders' funds. One company raised more funds to dump their S19 for S19XP (30% lower energy per TH), limited their losses by selling their S19s cheaply on the secondary ASIC market Antminer S21, announced today, uses 18% less energy than S19XP. Every miner should be planning to upgrade to these before the end of 2025. They won't be available until mid-2024, and will be rolled out slowly for the first year. Demand will exceed supply for at least a year Anybody planning to get into mining now should delay until S21 availability, especially because the halving will cripple the profitability of all miners in April 2024
I think your numbers are off. An S9 have about 13TH/s in hashrate. The hashrate of the network is about 400.000.000TH/s. The chance to win a block is therefore 0,00000325% per block. However the electricity would cost more than the expected winnings.
~ 414 exahashes globally or 414,000,000 TH/s Thus if all ASICs upgraded to these 200 TH/s models you would need over 2 million ASICs globally. Yes , Bitcoin is very secure.
I remember when the whole network was like 2 TH/s
You don’t want to mine bitcoin with a CPU or GPU. Not since like 2013 when ASICs hit the market. Now buying an ASIC capable of 190 TH/s and just running one of those is a viable lottery ticket option. Mine on Kano’s solo pool. You just need to be able to power it (like 3500W) and you would need to make sure it’s not ruining your life with all the noise it makes. Maybe make a small submersion cooling tub? In 2017 I had 19 S9s mining. One of them solved a block. I literally fell over when I realized I solved a block. My solve was double the current difficulty at 7 trillion. It was on Kano’s pool so I got a nice bonus but it wasn’t solo pool. I sure a shit wish it was though.
For CPU mining, yes. A 14 TH/s antminer S9 gets 3082 satoshi per day That's a 1300 watt specialized machine, I don't know exactly how much more it mines than a i9, but I wager more than 3000 times more. Even a S9 will on average mine one block every 555 years at the current difficulty. 6.25 BTC per block 100,000,000 Satoshi per BTC 625,000,000 Satoshi per block 3082 Satoshi per day of S9 mining 202,790 days / 365 days 555 Years The current hashrate is \~400,000,000,000,000,000,000 hashes per second.
Is anyone able to explain litecoin’s hashrate being in the TH/s vs btc and bch being EH/s? Why is the number so drastic? Is it because of the different mining algorithms?
This could have exactly been me who posted this. I have basically the same story. I was introduced to Bitcoin in November 2020, I latched onto the digital scarcity aspect and bought bought bought. Purchases from 14k USD to 55k price range. Since the 2021 November ATH: \-Started home mining Jan 1, 2022 (270TH) - Never stopped even when it became "unprofitable". I am a sat stacking pyschopath \-Stack grew 3.3x \-Conviction for the asset, network, and long term multiple generation outlook \-Increased Bullish on procreation, wife is now pregnant due Jan 24 \-DCA all disposable fiat, no-kyc through bull bitcoin. DCA on for \~100 consecutive days now this way.
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I am 67 yr old who mines bitcoin at over 1000 TH/s. I slaved my ass off as a contractor all my life and have made more money in BTC since 2017 than I did working like a fool for 50+ yrs. I wish I felt like a teen when I climb out of bed. Also, never care what some internet guy thinks of ANYTHING that interests you. He's probably a big loser anyway.
2 cycles in and I now have 284 TH of mining equipment. Besides DCAing via electric bill... Waiting until market bottom and putting in a low leverage long
i like your positivity, but it's almost impossible to happen because greed is much stronger than global community well-being. there are huge financial interest on mining operation, and they won't give up on them just for good will. even if ASICs evolve to the point of being capable to calculate 1TH/s using a few Watts from a 5v USB and Satoshi itself comes out from hibernation with the needed mechanics and the code to enforce perfect decentralization without sacrificing privacy and security, no miners will ever adopt it. They'll instead use new ASIC technologies to push global hashrate higher, just like it's always been. Provided you already have the (impossible) new network protocol, for such a change you'll need most of the world population to be educated on bitcoin, setup their network nodes with the updated Core version enforcing hashrate limits and fork away from the former miners. I'd love such a world, but it's extremely unlikely to happen. it would easier for my ESP32 based NerdMiner (55Kh/s) to find a block during the next 10 years.
the extremely unlikely future i was picturing excludes large mining operations, limiting hashrate to 1TH/s for household. i know this introduces a whole new set of problems to solve because it mostly negates difficulty adjustments, but mine was just a lucid dream, no need to be rational while dreaming and imagining a perfect impossible world is a good exercise sometimes.
someone was talking about what expects us for the next 5 years, and another redditor said usb-powered teleporters in every household made me think about an impossible future where every household could have a usb powered 1TH/s bitcoin miner. this is impossible because implies that no bad actors exists but how incredibly awesome would be to have a completely decentralized network allowing all the people of the world to indipendently manage their own finance without intermediaries and without relying on colossal mining operations.
there are "lottery miners", and lottery miners. an old single S9 Antminer ASIC mining solo (13TH/s) can be defined lottery miner, but has a lot more chanches than actual lottery miners like ESP32 calculating 60KH/s.
I run 2 S9 with BOS+ tuned to 80 J/TH for about 1 kilowatt when my PV system produces excess energy. It turns off/on automatically based on an extra kW available or not.
Meanwhile in Canada 
> considering whether the likelihood might increase after the halving event The math is fairly simple if you find the current global hash rate, *416,351,000 TH/sec* So your miner has a 1 in 400 million chance Ignoring other factors, the halving makes miners unprofitable. This leads to half the miners retiring, reducing the global hash rate to 200 million TH/sec Then your miner will have a 1 in 200 million chance Three things: * based on history, the hash rate fall will be delayed by 8 months. That is, miners will absorb 8 months of losses hoping everybody else will quit first * if the price falls, the hash rate falls more than half * if the price increases, the hash rate falls less than half
https://cointelegraph.com/news/tiny-bitcoin-miner-defies-massive-odds-to-solve-a-valid-block If not it's closer then your model. There are TONs of small miners, well over 1000. There is not a small miner block reward every two days... For example this article states only 1 in 10000 days you will find a miner that won with 126 TH/s (lower than this post but still the same principle).
Nah. [191TH/s for $3600](https://m.bitmain.com/zh/product/detail?pid=00020221229153045195XzfP62rE069C)
>That's representative of the competition for the rewards and participating in securing the network. It only takes one machine to do the work, buying more machines is simply scaling up your chances to win that reward. It also increases the overall security of the underlying data in that competition. The more deployed hashpower, the costlier it is to deploy an attack to try and reverse transactions. Exactly! It is \*costly\* in terms of the \*capital\* required to match the defending miners. Whether the defending miners have 1 hash per second or 1 TH is entirely irrelevant. It's the cost of matching them that matters - the capital. After all, I assume you are aware that the hashes in Bitcoin aren't used for anything besides the lottery? The rich can buy more lottery tickets than the poor, and thus decide in both networks. >People buy multiple lottery tickets every week. They are just trying to increase their chances at getting rewards. Ok, then I believe we agree on this point. >Arent there companies that are literally deploying multiple validators of aggregated capital in PoS networks in order increase their chances at getting a cut of transaction fees? Doesnt that require lots of capital in both equipment and stake There certainly are, and it certainly does. I've made no argument that hinges on the opposite. >and doesnt it also concentrate the power into the operators that are acting as a single point of representation for the aggregated stake they control? Far less than PoW. Both large and small stakers earn the same rate of return, as opposed to PoW where people buying ASICs in bulk and getting non-retail sources of power far out-earn their smaller competitors. >Your argument was it costs less. No. My argument was that both consensus mechanisms revolve around the capital of its participants. PoS \*does\* cost less, but that's entirely irrelevant the point I have made so far. >There are literally blacklists of addresses. There was the OFAC compliance stuff The US government \*trying\* to censor Ethereum doesn't mean that Ethereum \*was\* censored. The US government have also OFAC-sanctioned Bitcoin addresses, but it similarly has nothing to do with whether or not Bitcoin \*was\* actually censored. Bitcoin wasn't, and Ethereum wasn't. Everything else is myth.
Need to resolve some crazy confusion already in this thread. An Antminer S19 Pro mining rig has 110TH capacity and draws 3,250W. https://www.asicminervalue.com/miners/bitmain/antminer-s19-pro-110th A terahash is 10^12 hashes per second. A pentahash is 10^15 hashes per second. So this "solo" miner would have to run 9 S19 mining rigs (drawing about 30,000 watts) to achieve ~1 PH.
No. The fastest ASICs have well over 100 TH. You’re thinking of VERY old S9’s which were between 13.5 and 14 TH without overclock. 8 or 9 recent gen miners (at like 3500W a piece) would equal 1PH
>With approximately 1PH of hashrate, the miner solved the 277th solo block through the Solo CK Pool. Dude, 1 PH/s is not exactly what I'd call a common solo miner. The fastest ASICS have a few TH/s so you'd need hundreds of those.
To put this into perspective: Hash rate denominations - 1 kH/s is 1,000 (one thousand) hashes per second - 1 MH/s is 1,000,000 (one million) hashes per second. - 1 GH/s is 1,000,000,000 (one billion) hashes per second. - 1 TH/s is 1,000,000,000,000 (one trillion) hashes per second. - 1 PH/s is 1,000,000,000,000,000 (one quadrillion) hashes per second. - 1 EH/s is 1,000,000,000,000,000,000 (one quintillion) hashes per second. Which means this person has some serious hardware.
If it costs about 20k in electricity on average to mine a Bitcoin (making that number up because I have no clue where they live) then they are spending 20,000/450 = about $40 per year on electricity for mining with 17TH. Not really sure what you mean by regulatory crackdown but I don't really see it as much of a gamble since they aren't risking a lot. It's less like betting thousands of dollars on black on roulette and more like buying a couple lotto tickets. Sure technically a gamble but not really a lot to lose. I assume they probably are doing it just because they are interested in Bitcoin. That's why I do my mining to make about $2 per month, not for the expected gains but just for fun of learning.
If an individual person with 17 TH will mine a block on average once every 450 years, then if there are 450 different individual people, each with 17TH, then you will have an average one one block solo mined per year. I'm sure a vast majority of Bitcoin mining is by companies but I bet at least 450 people solo mine.
This is a really weak and lazy argument. It has several things that give it value. 1. It’s open, decentralized, censorship-resistant, and can be sent at the speed of light anywhere in the world. 2. It’s backed by 424.51M TH/s of computing power and energy 3. It has very clear and defined rules, which means that it can’t be inflated or tampered with 4. It’s the first accounting technology to ever solve the double spend problem 5. It had an immaculate conception and because of that is the first and only purely digital commodity (essentially impossible to repeat) For anyone that has really studied Bitcoin and not just read headlines, it’s obvious it holds tremendous value.
You're still randomly copying and pasting with no comprehension of the meaning of the words > A full node independently validates incoming transactions against the consensus rules This is false. Incoming transactions are accepted or rejected according to policy rules, which are not exactly the same as consensus rules More importantly, nobody can trust the validation tests done during mempool propagation. Consensus validation of transactions is done by nodes **after mining**. You have understated this badly by saying "during which the hash and the contents of the block are checked and confirmed", as though the actual consensus rules for the block and for the transactions are insignificant A Bitcoin transaction can not be trusted by you until your own node has applied the consensus rules to the block in which the transaction has been mined - the consensus rules for the block itself (header and size), the consensus rules for the transaction, and the consensus rules for every other transaction in the block A Bitcoin transaction in your mempool can not be trusted A Bitcoin transaction sent by a miner, or by another node, in a newly mined block can not be trusted until the above consensus process is complete for the whole block You can not assume that nodes are honest. Mempool processing has policy rules, all of which are completely optional. A miner can add a transaction to his candidate block without the transaction ever seeing any node's mempool ###Understand this The Bitcoin process is multiple steps - mempool propagation, mining, consensus. In any multi-step process, only the final step can be reliable. Consensus happens **after mining**. Nothing which happens before consensus can be trusted Nodes do not trust miners When a node receives a new block from a miner, the node applies all the consensus rules to the block, and to all the transactions. If there is any consensus error, the block is not added to the node's blockchain, the block does not get propagated to other nodes Nodes do not trust nodes When a node receives a new block from another node, the node applies all the consensus rules to the block, and to all the transactions. If there is any consensus error, the block is not added to the node's blockchain, the block does not get propagated to other nodes Nobody can trust the mempool > Simplified Payment Verification (SPV) Node Where did you get this? There is no such thing. A SPV client is not a node > A block header serves as a summary for the rest of the block Actually, it's a header, not a summary The Merkle root hash represents the transactions, but it's more accurate to call it a digest, not a summary https://www.techopedia.com/definition/4024/message-digest Previous hash links to the previous block, defining the timestamp server described in the Satoshi white paper Time is for adjusting the mining target every 2016 blocks nBits is the current target (not difficulty) > A mining node is essentially a full node which is operated by an entity that runs a piece of mining software on the full node, and uses hardware (ASIC-computers) which are constantly hashing blocks in order to find a valid hash No such thing as a mining node Here's a puzzle for you A typical mining device is a S19XP at 140TH/sec. The current global hash rate is 370 million TH/sec. 370 million divided by 140 is 2.6 million. So you're saying there are more than 1 million mining nodes But this chart tells us how many nodes there are https://luke.dashjr.org/programs/bitcoin/files/charts/historical.html Not 2.6 million, not 1 million, not even 50,000 Miners run their dumb, fast ASIC boxes, but they don't run nodes > Validated transactions are temporarily stored in a node’s mempool, where they wait to be picked up by a miner This doesn't make sense. Why would any miner read my node's mempool? Does he also check the other 47,000 mempools? Very few miners actually participate in transaction processing. Instead, all miners join pools, and nearly all miners accept a candidate block supplied by the pool A mining pool has a node (it's just like any other node, it's **not a mining node**). The mining pool's node has a mempool. The mining pool's mempool is maintained in the same way as any node - incoming propagation, policy rules, accept or reject, store and propagate. But a mining pool can also accept transactions from other sources > constantly hashing blocks The block header is hashed, not the block
At today’s Bitcoin mining difficulty and with 17 TH, a solo miner would need an average of 450 years to land a block. For your Nerd Miner it's probably smaller odd but you know you might win some day.
Didn't know this. Very interesting to know! Thanks for sharing it. However I need to point out that Antminer S9 it's 17 TH/s while the Nerd Miner is 45 KH/s. This is the difference: 1 TH / s = 1,000 GH / s = 1,000,000 MH / s = 1,000,000,000 kH / s