Is Bitcoin Mining Really A Power Issue

It seems like the constant attack on crypto and in particular bitcoin is the massive power consumption it uses. And don't get me wrong it does use a lot of power and will most likely only increase.

For example a very small hobby miner like the canaan avaol 3 with a 4 TH/s mining capacity will use up around 100 - 140watts of power. While some of the newest miners such as the Antminer S21e XP Hyd 3U (coming in November) with a massive 860 Th/s will require roughly 11,180 watts of power. That's a massive uptick and what many people don't realize is if you took the cost of power roughly $0.13 per KWh you'd maybe make around $3 a day from one of these huge miners.

Most companies will produce their own power and if they are not already they are moving towards this direction. By producing their own power with Solar, wind and other means the profitability of these miners then skyrockets. That $3 a day 10x's to $37+ per day and any extra power produced can be sold on to the grid.

Really the only way to be profitable mining bitcoin anymore is to produce your own power and that's why a lot of smaller scale hobby style miners are becoming more and more common or otherwise known as lottery miners too.

This is actully re-decentralizing bitcoin mining.