quote:
Out of curiosity, how much electricity does a computer use to be able to mine one bitcoin? Let's say you're running one computer 24/7 in one of the group mining projects.

It depends on how robust your mining rig is. There are sites where you can do the math (enter your local electricity rates, the power consumption of all your devices, the hash rate of your devices, the mining difficulty rate*) and it will calculate an estimate of any profits or losses.

The new ASIC chips actually use relatively little electricity compared to CPU's, GPU's and FPGA's. But also, consider that the more ASIC's that are in use on the network in general, the higher the mining difficulty.

*Mining difficulty is a figure that adjusts depending on the amount of hashing power on the network at any given time. The more hashing power, the harder mining gets.

quote:
Do tech savy individuals do this mainly for profit, or is it more of a challenge/fun thing for them?

Most probably do it for a profit. But for most it's also probably a fun challenge for them as well.

This post was edited on 2/27/13 at 3:09 pm

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Posted by Meauxjeaux

98836 posts including my alters

Member since Jun 2005

41401 posts

Posted on 2/27/13 at 3:28 pm to WikiTiger

quote:
It depends on how robust your mining rig is. There are sites where you can do the math (enter your local electricity rates, the power consumption of all your devices, the hash rate of your devices, the mining difficulty rate*) and it will calculate an estimate of any profits or losses.

Yeah, I'm certain that my little setup is not profitable as a bitcoin mining operation.

It only makes sense in that I have a few machines that do practically nothing 24x7, but are always on and running nonetheless.

So I've got the costs sunk already, might as well have them doing something.

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