1

Bitcoin is going down right now. It's about 500USD/BTC. I wonder what is mental support price for miners under which they would prefer to buy btc instead of mining it? That would be more or less mining cost. So what is the current actual cost of mining 1BTC?

closed as off-topic by Jan Moritz, Nate Eldredge, Dennis Kriechel, dchapes, cdecker Aug 20 '14 at 20:26

This question appears to be off-topic. The users who voted to close gave this specific reason:

  • "Questions on current market values, energy costs or service provider availability are off-topic as the answers are changing too frequently to be useful to others." – Jan Moritz, Nate Eldredge, Dennis Kriechel, dchapes, cdecker
If this question can be reworded to fit the rules in the help center, please edit the question.

  • 3
    Questions that ask for current prices, etc, are off topic here. Answers would necessarily become obsolete immediately, and the purpose of Stack Exchange is to collect questions and answers of lasting value to future users. I have voted to close this. There have been past questions about the factors that generally affect the cost of mining, so a search could be helpful. – Nate Eldredge Aug 16 '14 at 0:49
3

You can use a mining calculator to compare the available hardware's output, then add fixed cost (hardware) and variable cost (the cost of manpower, power, replacements, maintenance, etc).

I am assuming you mean ASIC mining cost, as GPU mining has not been profitable for bitcoin for quite some time. I found a site which keeps track of ASIC deployment and also provides a mining calculator: http://minr.info/

Generally miners do a lot of work to find places with cheap power, you can find kWh rates here: http://en.wikipedia.org/wiki/Electricity_pricing#Price_comparison

Even though this may seem unrelated, miners can also use GPU or Scrypt ASICs to generate alternate coins (and then convert them to bitcoin), which may be cheaper than generating/buying bitcoins. You can find a lot of information about various algorithms and a mining calculator for many alternative algorithms here: http://www.coinwarz.com/cryptocurrency

Beyond all of this, it is worth noting that bitcoins can be generated by any computer capable of doing such calculations, and that there are at least some people who do not pay for the power that they consume, and sometimes not even the hardware (such as college students and hackers, respectively). Therefore the price of mining a bitcoin can be next to nothing or actually nothing for some people who do not play fairly, and who will mine full-force at virtually any price.

  • It seems Kuwait is the place to be for mining, with a power rate of $0.00706/kWh (price in USD) mew.gov.kw/en/?com=content&act=view&id=92 coinmill.com/KWD_USD.html – Mark Aug 15 '14 at 18:18
  • 1
    To think that this question is knowable is to assume perfect knowledge of infinite and insurmountable variables. – TheGenesisBloke Aug 15 '14 at 22:07
  • OK. I'll answer my question. The numers are around $100 for $0.15kWh. – doker Aug 16 '14 at 9:31
-3

The actual cost varies necessarily due to a number of factors. It's actual cost is subjective as it is interminably subject to change as a result of aforementioned factors.

Electricity is free in some parts of Africa. Liquid nitrogen cooling techniques compounded by walls of ice miles deep in northern and southern poles are not open to anyone, much less blogged about conclusively. The best mining equipment will be open source public discourse eventually, maybe. . . But that is not the case today.

^^^if you have ever looked at the A. S. I. C. Mining manufacturing concerns, you will see a profoundly disturbing justification for the above skepticism; they all "pretest" their machines for months beyond their "preorder" slated release date. Preposterous, that the pre-orders be postdated months after the promise, and even then, just a few lucky would-be miners actually receive equipment as advertised. (see Butterfly labs)

When the terrible miners finally rolled their first batch out, they could only be overclocked by the best in the world to put up 1.6Ths. (seen Teraminer)

(see what I mean)

  • 1
    I'm not sure how your final paragraphs are relevant to this question. – Nate Eldredge Aug 16 '14 at 0:45
  • @NateEldredge use your mind – TheGenesisBloke Aug 18 '14 at 1:06

Not the answer you're looking for? Browse other questions tagged or ask your own question.