Co-founder of big mining-farm called the cost of production of 1 ETH

Co-founder of big mining-farm called the cost of production of 1 ETH

Brian Ventura-mining-farm-Atlantic Crypto 3,000 GPU, on August 27 said that at a price of $ 0.12 per kWh the cost of mining one of the ether is 152 USD.

“Assuming that the average cost of electricity is 12 cents per kWh… and since the energy extraction 1 air at the moment is equal to 1.27 MWh, this is equivalent to 152 USD per ether”, — he wrote.

This is about half of the current value of ether (about 300 dollars), and 12 cents is the average price for electricity in homes USA and the UK.

However, in different States the cost of electricity varies considerably. According to one, for example, in Idaho, North Dakota and Washington it is 8 cents. Thus, mining 1 ETH here will cost only $ 100.

This is approximately 33% less than the amount shown Venturo. At the same rate (i.e. from 3 to 2 esters) refers to reducing reward per block in EIP 1234 (from the English. “Ethereum Improvement Proposal”, i.e., “suggestion to improve Ethereum”).

Some American miners are planning to move to a place with excess electricity, for example, in China, where its price can reach even 4 cents per kWh, which will reduce the cost of mining the ether to $ 50. This is almost 6 times lower than the current rate cryptocurrencies.

It turns out that mining ether will remain profitable occupation, even when reward 1 ether per block, i.e. 3 times less than now. “Afirst” with the experience Eric Connor analyzed how the Ethereum network will pay for its security compared to Bitcoin, with 2 ethers for the block:

When 1 live for the block, said Connor, Ethereum will be slightly underpay for their safety, but in this, according to him, there is nothing wrong:

Friday will be another meeting of the developers of Ethereum, which will discuss the question of the necessity to reduce the remuneration, as well as inflation Ethereum.

Judging by the online vote, about 66% of holders of air tend to reduce the reward to 1 ether per block. About 33% agree to reduce it to 2 broadcasts per block. At the same time, almost no one wants to leave the current fee in 3 of ether per block.

During last Friday’s meeting, held on 24 August, some miners agreed to reduce the award to 2 esters. But will it ever be this Friday some kind of a solution acceptable to all is unclear.

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