"The Bitcoin Mining Network – Trends, Marginal Creation Cost, Electricity Consumption and Sources"

By Henry Chan   Jul 28, 2019 1 Min Read

“The Bitcoin Mining Network – Trends, Marginal Creation Cost, Electricity Consumption and Sources” investigates the marginal cost of creation of bitcoin; the composition, efficiency, electricity consumption and electricity sources of the Bitcoin mining network. This paper also dives deep into the trends in hash rate, hardware cost, and hardware efficiency. The findings in the paper show that in the last 4.5 years, the hash rate has tripled annually, while mining hardware efficiency doubled, and hardware costs were halved. It revealed that contrary to other widely used media sources, the Bitcoin mining network is mainly powered by renewable energy, with hydropower being the main source.

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Excerpt from The Bitcoin Mining Network – Trends, Marginal Creation Cost, Electricity Consumption and Sources

Read the full paper.

 





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