Here are my calculations. Please let me know if there are any flaws.

Average energy cost based on google = $0.138

Energy consumption of an antminer S19 XP = 3010 watt hours

Calculating with a 10 minute blocktime:

3010wh / 6 / 1000 = ~0.5 kwh

Multiplied with the average price = $0.138 x 0.5 kwh = $0.069 per block per antminer

Currently the hashrate of bitcoin is around 180 million TH/s. Let's say miner uses the same antminer with 140 TH/s:

180'000'000 / 140 = ~1’285’714. That's the amount of antminers that are needed to produce 180 million TH/s.

1'285'714 x $0.069 = ~$88’714

That's the price of the energy that is being used to produce one block.

The current block reward is 6.25 bitcoin. $44'357 / 6.25 = ~$14’194

That's how much a bitcoin is worth in energy.

Edit: Someone found a mistake. I used the TH/s of the S19 XP which has 3010 watt hours. If my gut is correct that doubles the price per block and therefore the price in energy.

It is correct. Just fixed it.

submitted by /u/aemmeroli
[link] [comments]

Source and link to Reddit topic: I calculated what bitcoin is worth in energy

Author: Reddit.com