How Much Energy Does It Consume To Mine Cryptocurrencies At Home?

If you want to start mining cryptocurrencies, you need a computer with enough power and know how much energy it will consume with your electricity company , so that the investment is profitable.

Consumption will depend on the characteristics of your computer. Keep in mind that it can range between 0.2 and 0.5 kWh.

Is mining cryptocurrencies from home viable?

Bitcoin network
Is mining cryptocurrencies from home viable?

Cryptocurrencies have been the focus of attention during the last year due to the exorbitant growth in their value. Something to keep in mind is what is the best electricity rate for it.

Bitcoin and Ethereum are the two most popular cryptocurrencies in the world and it is not surprising that people like you are interested in the world of mining to generate profitability.

If you want to start mining cryptocurrencies, you need a computer with enough power and know how much energy it will consume so that the investment is profitable.

How much does a computer consume to mine?

CHIPS and Science Act to boost ailing semiconductor industry
How much does a computer consume to mine?

Using a current meter is the fastest and most efficient way to know the electrical consumption of your computer.

If you have a computer with these specifications, it will consume a total of approximately 0.2 – 0.3 kWh.

  • Processor: Ryzen 5 3600X 3.6GHz
  • Graphics Card: RTX 3070 12GB
  • Ram: 32GB DDR4
  • Power supply: 650W
  • Motherboard: Gigabyte B450 AORUS Pro

The above configuration is one of the most common to mine ethereum or other types of cryptocurrencies, except bitcoin unless you have hundreds of computers like that.

Consumption will depend on the characteristics of your computer. Keep in mind that it can range between 0.2 and 0.5 kWh.

If you want to know the consumption and profitability of your graphics card you can go to this website .

On this website you will also find:

  • a calculator to know the consumption and the mining power of ASIC.
  • a ranking of the best ASIC models based on their profitability, power, hashrate and cost.
  • ranking of the best GPUs.

But is it really profitable to mine cryptocurrencies at home?

Bitcoin
But is it really profitable to mine cryptocurrencies at home?

Quick answer: Yes, except for Bitcoin. This is not profitable if you want to do it from home, unless you have hundreds or thousands of powerful computers to compete against the super mining farms.

Other cryptocurrencies can be a good option.

Long answer:

It depends on the cryptocurrency.

Bitcoin (BTC): The most famous cryptocurrency in the world is not profitable due to the high competition and the mining farms that are spread all over the world. The more people decide to mine bitcoin, the algorithm becomes more complicated, so more and more computational resources are needed to obtain a hash.

  • Algorithm: Proof of Work (PoW, “Proof of Work”)
  • Reward: 6.25 BTC

Ethereum (ETH): The second cryptocurrency with the highest market capitalization. Today it is still a good option for mining but you need a computer with a minimum of power.

  • Algorithm: Proof of Work
  • Reward: 2 ETH

Monero (XMR): This cryptocurrency has a high level of privacy and decentralization. The advantage is that you can use it to mine both CPU and GPU.

  • Algorithm: Proof of Work
  • Reward: 2.47 XMR

Litecoin (LTC): Litecoin is an option to mine because it is a fairly stable currency, (although in the crypto world this is not a guarantee) and does not require a large investment to obtain profits.

  • Algorithm: Proof of Work
  • Reward: 12.5LTC

Dogecoin (DOGE): This cryptocurrency was born as a meme but has now become quite popular. Elon Musk and other influencers have promoted this coin with the goal of reaching 1 USD in value.

  • Algorithm: Proof of Work
  • Reward: 10,000 DOGE

However. If what you want is to get bitcoin , one option is to mine the cryptocurrencies mentioned above and then exchange them for bitcoin. This way you can mine more affordable cryptos with cheaper hardware and get bitcoin just the same.

Use renewable energy to save energy.

If you have a roof or a balcony where the sun shines for long periods or it is very windy, you can choose to put solar panels or wind turbines.

These options are expensive but in the long run you can save electricity and have clean power mining computers.