To consider how much one bitcoin is worth in terms of gold, other precious metals and dollars — quite an exciting experience, which periodically indulge journalists of various publications. So, the staff OilPrice calculated how much you need to spend of oil to mine one bitcoin.
The us barrel is 42 gallons, or 159 liters of oil. According to the latest data, annually for the needs of mining consumed about 22.5 terawatt-hours, the production of which is necessary to spend about 13 million barrels. Given that every 10 minutes produced a 12.5 bitcoin, it is easy to calculate that the cost of energy required for production of one bitcoin would be approximately 20 barrels.
Interesting and that is this: the price of bitcoin is now about 6300 dollars a barrel’s worth about $ 60. So, if you spend 20 barrels to mined one bitcoin, and then sell, the money you to buy more than a hundred barrels.
Such is the interesting arithmetic.
How much oil need to mined one bitcoin?
Vyacheslav Larionov