How Much Power Do ASIC Miners Consume When It Comes To Mining Cryptocurrencies?

[Good-Guy]

Iran is nowadays facing problems related to cryptocurrency mining and this is why it has been facing electricity shortage problem, as many news reports have suggested. I am not aware about why Iran is facing this problem, but I think that this is because Iran is not producing enough electricity. This also points out that Bitcoin mining consumes a lot of electricity. However, I do not know how much power do ASIC miners consume. I think the only countries that might be good for mining are countries where electricity is cheaper and in abundant quantity. Anyway, how much power do ASIC miners consume, do you guys have any idea? I might be mining Bitcoin in the future, so I am just asking for my information. Thanks!

 

[sincerem]

Its good you're having the mindset of becoming a crypto miner that's why you've come up with the idea ' how much power do ASIC miners consume. I'm not a miner, and i don't have idea about how much energy or electricity used by ASIC miners to mine Cryptocurrency. You can find it on search engine, where enough information is linked. Or wait for a user to give you the right information for that.

 

[Good-Guy]

Its good you're having the mindset of becoming a crypto miner that's why you've come up with the idea ' how much power do ASIC miners consume. I'm not a miner, and i don't have idea about how much energy or electricity used by ASIC miners to mine Cryptocurrency. You can find it on search engine, where enough information is linked. Or wait for a user to give you the right information for that.

I am planning to mine Bitcoin but I am not sure how much money I would need to invest when it comes to analysing all the expenses totally. It seems that ASIC miners are very expensive and they consume a lot of energy and this is why Iran is facing a lot of problems. I think it would be a better idea to trade cryptocurrencies rather than mining it because the mining difficulty is also increasing every single year.

 

[sincerem]

I am planning to mine Bitcoin but I am not sure how much money I would need to invest when it comes to analysing all the expenses totally. It seems that ASIC miners are very expensive and they consume a lot of energy and this is why Iran is facing a lot of problems. I think it would be a better idea to trade cryptocurrencies rather than mining it because the mining difficulty is also increasing every single year.

Mining Cryptocurrency will need you to join group of miners in a mining rig, and mine real crypto and not mining using your desktop or mining devices investing on virtual mining software. And where you'll find those miners are in the united states, Australia, Canada, united kingdom etc, countries that gave mining farms. So you should consider your option and come up with a choice.

 

[jvanname]

It is quite pathetic how many people spend so much resources on mining Bitcoin instead of using their computational prowess to actually solve a scientific problem. But I am not blaming the miners. I am blaming the cryptocurrency community for rejecting science and cryptocurrencies with mining algorithms that are actually designed to advance science. Seriously. . .all this senseless waste is damaging the cryptocurrency community.