lowest bitcoin price based on fundamental
Updated
accoding to the whattomine (simple website to etimate bitcoin mining profit) :
we need to have 35000 Antminer S9 with 14 TH specification to build a Bitoin during an hours,
if each Antminer used 1.372 kW per hour this system need 48 MW power !!!
a- If you are able to prepare this power source you have to paid 48000 KW * power cost KWh
b- we assumed typical power cost 0.1 $ we should pay 4800 $ for preparing a bitcoin
c- if you are able to build this mining farm you have 35000*14 TH = 0.49 EH on bitcoin network
proof to above statements from another view:
==============================
today Bitcoin network have 42 EH (variable upon to miners but when last time difficulty adjusted network speed was 37.04 EH ) mining network speed and bitcoin network adjust himself by difficulty according to his rules to make a block during 10 minutes.
note that every block generate 12.66 BTC rewards for solver.
during an hours typically we need 6 blocks so we have 12.66*6= 75.96 BTC.
75.96 BTC generated when u used total network speed ( 37.04 EH) so for 1 BTC we need roughly 0.49 EH
Above information drive me to this thought bitcoin can not maintain below 4800 $ more than an hours.
==============================
Residential rates in the U.S. range from 8.37¢/kWh to 37.34¢/kWh.[U.S. Department of Energy]
The average (residential) national electricity rate rate is 11.88¢/kWh.
From (a) we can estimate lowest bitcoin price 48000 KWh * 0.1188 /KWh =5702 $
//////////////////////////////////////////
we need to have 35000 Antminer S9 with 14 TH specification to build a Bitoin during an hours,
if each Antminer used 1.372 kW per hour this system need 48 MW power !!!
a- If you are able to prepare this power source you have to paid 48000 KW * power cost KWh
b- we assumed typical power cost 0.1 $ we should pay 4800 $ for preparing a bitcoin
c- if you are able to build this mining farm you have 35000*14 TH = 0.49 EH on bitcoin network
proof to above statements from another view:
==============================
today Bitcoin network have 42 EH (variable upon to miners but when last time difficulty adjusted network speed was 37.04 EH ) mining network speed and bitcoin network adjust himself by difficulty according to his rules to make a block during 10 minutes.
note that every block generate 12.66 BTC rewards for solver.
during an hours typically we need 6 blocks so we have 12.66*6= 75.96 BTC.
75.96 BTC generated when u used total network speed ( 37.04 EH) so for 1 BTC we need roughly 0.49 EH
Above information drive me to this thought bitcoin can not maintain below 4800 $ more than an hours.
==============================
Residential rates in the U.S. range from 8.37¢/kWh to 37.34¢/kWh.[U.S. Department of Energy]
The average (residential) national electricity rate rate is 11.88¢/kWh.
From (a) we can estimate lowest bitcoin price 48000 KWh * 0.1188 /KWh =5702 $
//////////////////////////////////////////
Note
I will update this post when difficulty adjustedNote
when the difficulty adjusted BTC network hashrate was near 51 Ehash/safter that increased up to 56 EH and now is 53.3 EH
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.