How much cost will it take to mine 1 Bitcoin with a Single laptop.
Let us assume you have a gaming laptop atleast (with a good graphics card). Let’s choose;
A laptop costing 1.2 Lakh INR or 1870 USD.
It has a 6 GB Nvidia 1060 graphics card with i7 7th gen processor and 16 GB of RAM. A top end laptop.
Currently,
• 1BTC = 7000 USD
• Difficulty Factor of BTC is 2874.6742 G
• Next difficulty retarget occurs at block
510047.0 (eta 13.4 days): 2.93031655023e+12
/ +1.9% [est.]
• BTC / Block: 12.50000000
Now hash rate of this laptop will be around 18-
20mh/s.
1 unit of electricity in India (Bhilai) is
approximately 5–6 INR for the above 300 units
slab.
So, 1 unit/ 1 kWH of power costs ~ 0.078 $
SO THE PART YOU HAVE BEEN WAITING FOR:
- Your investment in the laptop - 1870 $
- Now lets start mining day and night continuously 24x7x365. Remember mining is a very intensive process and its just like playing heavy games on your laptop all day and night. So you need a good air-conditioning and cooling for the laptop.
- Let us calculate electricity costs. Compare the laptop with 200 watt electricity bulb as the laptop will not draw more power than that.
- So the laptop alone will take around 33 units of electricity per week.
- So in 1 week of mining; we incur 2.5 $ for electricity. So 2.5 USD/week for mining.
- BTC earned in 1 week with laptop =0.00000001 BTC = 0.0001 USD (As per BTC mining calculator).
- So in 100000000 weeks we get 1 BTC assuming the hashing difficulty remains same which is impossible as difficulty increases exponentially but for the sake of answer we will assume the difficulty remains constant.
- So to earn a Bitcoin with this 1.2 Lakh INR (1870 USD) laptop it will take 1917808.21 years or 19178 centuries with this configuration.
- Now lets assume it takes 25 years to create a generation of family. So you will have 76712.32 generations before you can create one bitcoin with a laptop.
- Now lets calculate the costs of creation of this 1 BTC; assuming an average laptop lasts for 4 years when kept running 24x7x365.
- You need 479452 laptops for this purpose. Assuming no inflation and price of laptop remains same, that is 896575338.17 USD for laptop and 262079998.74 USD for electricity.
- Adding them up, the costs for creating one bitcoin will be 1158655336.91 USD which is 1,158,655,336.91 = 1.1 billion USD.
- So the cost of creation of BTC will be profitable only if the value of one BTC exceeds this.
So mining will be profitable only if it 1 btc
exceeds this value.