Lumerin Blog
Published in

Lumerin Blog

How to calculate your Bitcoin mining electricity costs

Everything you need to consider before you start mining

Photo by Anthony Indraus on Unsplash

Why are energy prices important?

  • The electricity price where you’re located.
  • The power consumption of your mining setup.
ASIC miner.

Calculating electricity costs

  1. First, you need to convert watts to kilowatts: 3250W = 3.25kW.
  2. Now, you have to calculate how many kW you’d use in a full day: 3.25kWh x 24 hours = 78kW per day. Of course, this will change depending on how long you plan to run your miners.
  3. You’ll also need to calculate how much those kWh will cost you according to your location’s energy prices: 78kW x $0.1 = $7.8 a day.
  4. Finally, multiply the final number by 30 to know your monthly expense in electricity: $7.8 x 30 = $234.
Photo by Sasun Bughdaryan on Unsplash

Additional costs

Reducing your electricity costs

Photo by Erik Mclean on Unsplash

Summing up

Was this article helpful?

Join the Lumerin community!

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Lumerin Protocol

Making crypto mining hashpower a tradeable commodity. Built by Titan Mining. Visit us on https://lumerin.io/.