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| need to have power well below market cost for it to make sense. Think maybe at highest like 7-8 cents per kilowatt hour . Many large mines are 2-5 cents or even cheaper. The amount of electricty to mine 1 bitcoin changes with how much computing power is competing its like a market. The idea is to use stranded electricity that would be wasted anyway.
Example
flares from gas fields
hydropower that's over producing
only turning mining rigs on during night during low use hours since many plants cant ramp up and down fast enough
So many "free market" people turn communist and bitch about wasisitng electricity that dont understand how the power grid works or hashrate adjusts for bitcoion mining. They dont realize power cant be sent across the planet at anytime for free and that many power plants cant ramp down fully during low use hours. | |
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Anybody have a bitcoin mine?
