According to Bitcoinist reports: 80% bitcoin mining is based on renewable energy

Recently, in a highly acclaimed digital encryption currency by the “white paper”, CoinShares of all aspects of mining, in recent weeks, with bitcoin prices fell to a low of $3500, making it a little more prominent.

The researchers said: “since May, the average market creation cost (5 euros per kWh) and 18 month depreciation rate has increased from about $6500 to about $6800.”

This shows that, at current prices, the miners were losing money, and can not recover the capital expenditure, the mining cost per kWh to 3 euros, mining equipment depreciation in 24-30 months.

Bitcoin mining 80% rely on renewable energy As reported by Bitcoinist that, due to price depreciation, the miners seem to have encountered considerable economic difficulties, regardless of how the basic price of their region.

There are media reports last week, China miners sold a lot of profit, allegedly pushed up the cost of water during the dry season, which makes many of the miners is really a headache.

Since December 2, 2011, the first decline bitcoin mining difficulty, rather than increase. CoinShares said that the future will continue to focus on mining the most cheap energy, mainly renewable energy.

The researchers concluded: “according to the history data about the Chinese energy structure and encryption monetary exploitation sites, the vast majority of global bitcoin mining is based on renewable energy.”

“Bitcoin standard” author SaifedinAmmous said he agreed with these findings, and added that he would publish the bitcoin mining on Friday (Economics) first in-depth analysis”.

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