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submitted 11 months ago by throws_lemy@lemmy.nz to c/technology@beehaw.org
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[-] FaceDeer@kbin.social 5 points 11 months ago

It's an overestimate. Right now the total cost per transaction is around 82 US dollars, which at current exchange rates is 75 Euros. That cost covers everything - electricity, rent for the building, salary for staff, taxes, depreciation of mining equipment, and whatever profit is required to keep the miners in business. I don't know what proportion of miner costs actually goes to electricity but I expect it'll likely be much less than 70 Euros.

Perhaps someone got that 700 kWh figure by doing the reverse calculation - looking at how much a transaction cost and then assuming that all goes toward electricity.

this post was submitted on 04 Dec 2023
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