#比特币全网算力创新高
Bitcoin computing power surges as mining difficulty hits record high
The Bitcoin network hashrate has recently climbed, and is expected to increase by about 4.7% to 96 trillion. The hashrate connected to the Foundry USA Pool reached 224 EH/s, driving the overall network's average block generation time to 9 minutes and 35 seconds in the past 13 days. Although Bitcoin mining revenue has risen to $50/PH/s due to market activity, rising difficulty may push it down to $45/PH/s unless the Bitcoin price breaks through $70,000.
How is the total Bitcoin network computing power calculated?
There are generally three methods: mining pool computing power ratio method, blockchain browser method, and block difficulty method.
Among them, the block difficulty method is relatively accurate: this method estimates the total network computing power by analyzing the difficulty changes of the Bitcoin blockchain. First, obtain the block difficulty value in the recent period, and then reversely calculate the average computing power during this period based on the difficulty adjustment formula (that is, the generation time of each block). Finally, this average value is used as the estimated value of the total network computing power.
There are two main units of Bitcoin computing power, H/s and KH/s. H/s is the smallest unit, which means a random hash collision is performed by the computer once per second. KH/s means 1000 hashes per second, that is, 1KH/s=1000H/s. In addition, in practice, we may also see units such as EH/s, where 1 EHash is equal to 10 to the sixth power THash, that is, 10^6 THash.
The current cost of mining one Bitcoin is $75,388 (RMB 536,200). Now the price of one Bitcoin is $67,368 (RMB 479,900), so don’t even think about investing in mining.
The main costs of Bitcoin are as follows
1. Hardware Cost
Mining machine costs: This is an important part of the mining cost. The price of mining machines varies greatly, ranging from a few thousand dollars to tens of thousands of dollars. Although high-end mining machines are more expensive, they have stronger computing power and higher energy efficiency, and may be more cost-effective in the long run. For example, the price of the Antminer S19Pro is about 25,000 RMB, while the cost of a Bitmain Antminer S21 Hyd mining machine may be as high as 50,000 US dollars.
Other hardware costs: In addition to the mining machine itself, it also needs to be equipped with auxiliary equipment such as power supply and cooling system, which are also hard costs.
2. Electricity Cost
Electricity consumption: Mining machines need to work 24 hours a day, which consumes a lot of electricity. The electricity cost depends on the power consumption of the mining machine, the mining time, and the electricity price. For example, if a mining machine with a power consumption of 3250 watts mines 24 hours a day and the electricity price is $0.05/kWh, the daily electricity cost is about $3.9. It may take weeks or even months to mine a bitcoin, so the electricity cost will accumulate to tens of thousands of dollars or even higher.
3. Maintenance Cost
Long-term operation and maintenance: Mining machines will generate a lot of heat when working for a long time, and cooling equipment is needed to cool it down, which will increase electricity costs. In addition, mining machines also need regular hardware maintenance and software updates.
Failure and maintenance: Wear and failure of mining machine parts require regular inspection and replacement, which will increase maintenance costs.
IV. Other costs
Site rent: In some areas where mining farms are concentrated, site rent is also an important part of mining expenses.
Mining pool fees: If you join a mining pool for mining, you will also need to pay a certain amount of mining pool fees.
As the computing power of Bitcoin continues to rise, the price of Bitcoin will not reach the corresponding value, and the output will not reach 21 million and will be fixed.
Northern Data is considering selling its Bitcoin mining business to focus on AI development
2024/10/21 German company Northern Data is in talks to sell its crypto mining subsidiary Peak Mining, planning to use the proceeds for data center expansion and development of AI product platforms. The company plans to fully turn to the AI field, having previously raised $233 million through a Tether-backed stock offering to purchase Nvidia GPUs and expand its high-performance computing business. Northern Data mined 447 bitcoins in the first quarter of 2024, with operating costs of $28,500 per bitcoin.
This material is for learning reference only
