This page may contain affiliate links, please check out our disclosure policy here.
- How much energy does it take to mine bitcoin?
- How many solar panels does it take to mine bitcoin?
- How much energy does it take to mine 1 bitcoin a day?
- What does a solar bitcoin mining rig consist of?
- How to build a bitcoin mining farm
- Solar + battery + bitcoin mining = ecological virtual money?
- Bitcoin Mining using solar power – money for nothing?
- A practical solar system for bitcoin mining
- Conclusion: How many solar panels to mine bitcoin?
How much energy does it take to mine bitcoin?
If running multiple GPUs to mine bitcoin, approximately 6000 watts of solar panels is required to run a bitcoin mining rig during the day, while charging batteries to mine bitcoin at night. This equates to 20 x 300 watt solar panels. A 500Ah battery bank will be needed for running when the sun doesn’t shine.
Can you mine bitcoin with solar power?
It is entirely possible to mine cryptocurrency using solar power. Indeed, one could argue that it is crucial to the feasibility of Blockchain-related activities, including cryptocurrency mining.
The annual electricity consumption of Cryptocurrency activities is equivalent to that of Argentina. Not to mention the yearly production of more than 37 megatons of CO2.
Many people around the world benefit from security and power independence provided by battery systems and solar power.
Cryptography also provides a means of ensuring the digital currency system’s security and freedom.
How many solar panels does it take to mine bitcoin?
On an ordinary day in most parts of the United States, you can get about 5.5 kWh/m2/day from solar energy. This is important when considering solar farm cost and ROI.
Assuming you currently reside in a sunny city in the United States. This means that the power output produced by the panels is approximately:
5500 / 24 hours= 229.2W/m2.
A standard mining rig requires at least 450-500 Watts of power. You’re looking at 900–1500 Watts while using multiple GPUs.
This means that on an average day, you’ll need around 2.5 to 3 squared meters of panels to run a standard rig.
However, to make a profit, you need multiple GPUs, which require approximately 3–6 square meter panels. Furthermore, that power is only used to keep the system running.
You won’t have any stored energy if it is night or there are clouds. You’ll need more surfaces to generate some extra power, which gives you unspent power for storage. Assuming you get 11 hours of sun per day.
That equates to 13 hours without sunlight, for which you require power. So you have to double that area to 6–12 square meters. To sum it up, you will require approximately 6–12 square meters of panels and a decent power storage system.
Each year, cryptocurrency mining consumes the same amount of electricity as the country of Switzerland.
Transitioning more bitcoin mining to solar isn’t just a brilliant way to profit from solar energy – it is also an effective way to cut the environmental effects of digital currencies as they scale up.
How much energy does it take to mine 1 bitcoin a day?
According to Digiconomist’s Bitcoin Energy Consumption Index it takes 1,544 kWh to create 1 bitcoin transaction. That’s quite a bit of energy.
If we take the average cost of US energy of 13 cents per kWh, then the energy cost to creat 1 bitcoin would be:
1544kWh x $0.13 = $200.72
What does a solar bitcoin mining rig consist of?
Solar mining rig hardware
The hardware of ordinarily low voltage 10–14V can be supplied directly to the device from one 12V battery with a 200A fuse because the unit requires more than 150A to function.
(In basic physics, Watts=Amperes* Volts, so to power a 1400W device, you need 14Vx100A.) The fuse has to be larger to allow current surges of up to 150A to reach the device if it is required.
Solar panels and batteries
To build a solar miner, you need about 6000W solar panels to power the batteries and extra energy to store in the batteries for cloudy days and nighttime use.
To charge batteries, you need a voltage regulator and a fuse to the miner from the battery to protect against short circuits. That is all there is to it.
The battery storage has to be calculated so that the miner can be powered even at night. If it is entirely off-grid, you have to start figuring out the worst scenario for consecutive cloudy days.
Then multiply it with a coverage factor to determine the size of the battery reserve. For an off-grid solar system, a proper nano design will be required.
How to build a bitcoin mining farm
An entrepreneur can buy land in a sunny area to expand. The good news is that land is inexpensive in these areas—several acres for under $10,000—for example, Kern County in California receives the most irradiance in America.
On the land, off-grid panels should be installed. Simplicity calls for a 10kw system. Three half-pallets of The Solar Store’s Q Cell line provide 10.550 KW.
Kern County receives about 7 hours of sun each day, or 2,555 hours per year. That’s:
10.44 * 2,555 = 26674 kWh per year
You need 15 1070s to finish all 26,000 KWH from your panels. They can be bought in many online stores. You need an ASUS B250 mining motherboard with 15 GPUs.
Remember that you will need batteries to run at night. With seven sun hours a day, you need 17 hours for dark run time. It takes 3300 watts ( 12 volts and 275 amps) to run 15 GPUs.
This includes power lost in the conversion and discharging and charging. Also, don’t run your batteries completely flat for their longevity’s sake. Batteries are expensive.
Solar + battery + bitcoin mining = ecological virtual money?
This method is not only environmentally friendly but also benefits the environment. It provides eco-incentives for cryptocurrency mining.
Mainstream media has recently attacked cryptocurrency mining. The large amounts of power required to mine bitcoin can have a negative impact on the environment because the energy comes from a fossil fuel-powered grid.
Going solar helps to reduce fossil fuel demand, lowers greenhouse emissions, and reduces the carbon footprint.
Transitioning from fossil fuel reduces emissions by the same amount as planting approximately 200 trees each year.
The output of a 100W panel generates enough kWh to produce the computing power required to mine cryptocurrency while reducing air pollutants and carbon emissions.
This method needs the use of an ASIC or GPU. This means that the more bitcoin mined using solar, the smaller our carbon footprint.
Cryptocurrency mining would benefit the environment. Miners get encouraged to generate more solar energy to produce as much computing power as possible for more cryptocurrency mining.
Bitcoin Mining using solar power – money for nothing?
The Impact of Cryptocurrency Mining on Electricity Consumption
A typical mining rig contains 6 to 14 GPUs, and each GPU consumes $.04 – $.10 kWh, ranging from $.30kWh to $1.4kWh.
Even so, the rigs are rarely the cause of high mining costs. Cooling costs a fortune. Consider your air conditioner constantly running at full capacity to cool several heat-generating rigs.
When your rigs get hot, the GPUs may burn out faster. Cooling is critical in bitcoin mining.
As mining becomes more complex, the processing power needed to create new hashes increases. To find exceptional, new hashes, a large number of mining rigs and supercomputers are required.
One of the most challenging aspects of mining is balancing the energy costs of cooling and running the rigs with the cryptocurrency value.
As the blockchain network grows, additional energy will be needed to update and maintain the blockchain and find new hashes.
This implies that a large volume of energy sources, such as carbon-based fuels will be required. Adopting solar energy can be an excellent way to increase mining profit margins while lowering fuel consumption. This makes solar such a critical component of long-term sustainability.
Mining cryptocurrency with solar energy is a relatively new concept that gained popularity in 2017. The best cryptocurrency mining setup is determined by three factors: maximum hash rate, equipment purchase price, and energy consumption.
You have no control over the hash rate. The only variables you have control over are your energy usage and the cost of the equipment. The cost of purchasing mining equipment is a non-recurring fixed cost.
The risk is that the hardware will become obsolete when newer, more advanced ASICs or GPUs push out older mining equipment, particularly those with high electricity consumption.
As a result, lowering your energy consumption is the most effective way to increase your system’s profitability. Solar is the most efficient way to accomplish this.
A lot of capital is required to buy the necessary computing power and the mathematical and technical knowledge for running programs.
It also needs a significant amount of energy. Electricity costs have become an important factor when determining the profitability of a Cryptocurrency mining operation.
Incorporating solar power tilts the scales favor maximum profit while also providing an ecologically sound option for expanding the Blockchain network.
A practical solar system for bitcoin mining
Several blockchain applications may demand the processing power of a home computer, but more popular and established coins require faster processors, like ASIC cards and GPUs, which can increase productivity up to 100 times that of a standard CPU.
Typically, the higher the computing capability, the higher the energy consumption, which creates an opportunity for solar-powered mining.
It is highly beneficial to mine bitcoin using photovoltaics and the sun’s energy. After purchasing a solar system’s the production cost for solar energy is free.
Then you can see the enormous potential profits of mining the correct currency. If you have installed a solar system, it is much more profitable to mine cryptocurrency rather than export solar-generated power back to the grid.
Over the solar panels’ life span, a solar energy system can reduce the electric cost to less than 4 cents per kWh. A solar rig is designed to utilize the sun’s power whenever it’s obtainable.
To achieve maximum returns on investment, the rig should run 24 hours a day, seven days a week.
Conclusion: How many solar panels to mine bitcoin?
As a general rule, 6000 watts of solar panels is required to run a bitcoin mining rig during the day, if running multiple GPUs. This equals to 30 x 300 watt solar panels after subtracting solar losses. A 500Ah battery bank is recommended to power the rig at night.
(2021, February 11). Bitcoin: Friend or foe of the clean energy transition? Energy Monitor.
The ridiculous amount of energy it takes to run bitcoin. (2021, June 24). IEEE Spectrum.
Smith, T. (2019, November 15). A solar crypto manifesto. Medium.
Winton, B. (2021, April 21). Solar + battery + bitcoin mining. Medium.
RENOGY are fast becoming the preferred source for solar panels, kits, batteries and solar control accessories. Based in the US, where the products are manufactured, they are widely known and respected for innovation and quality.