What this shows
The estimated electricity cost of mining one bitcoin at the current network hashrate, compared with the BTC price. Mining is the one part of Bitcoin with a hard, physical cost, so the gap between price and that cost tells you how much margin miners have.
How it's calculated
Every six hours we take the network hashrate (7-day average) and the actual block rewards (subsidy plus fees) from mempool.space, then:
Energy per day = hashrate (TH/s) × efficiency (J/TH) × 24 h
BTC per day = 144 blocks × average reward per block
Cost per BTC = energy per day × electricity price ÷ BTC per day
Two assumptions drive the result, and you can change both above:
- Miner efficiency: 22 J/TH by default. That is a rough fleet average. The newest air-cooled machines (Antminer S21 class) run at about 17.5 J/TH and the best hydro units below 14 J/TH, while older S19-generation machines still running sit around 21–30 J/TH and above.
- Electricity: $0.05/kWh by default. Large industrial miners typically pay roughly $0.03–0.06 per kWh, and home miners usually pay far more.
What it doesn't include
This is electricity only. It leaves out the price of the machines, hosting and cooling, staff, financing and pool fees. All-in costs are therefore higher than the number shown, and they differ a lot between miners. Treat the figure as a floor for an efficient operator, not as "the" cost of bitcoin.
Why traders watch it
- Miner stress. When the price approaches the electricity cost of a typical fleet, less efficient miners switch off or sell their reserves to keep running. That pressure tends to show up as falling hashrate and miner selling.
- Halvings. The block subsidy halves roughly every four years. At the April 2024 halving (6.25 → 3.125 BTC) this estimate roughly doubled overnight, from about $16k to $31k per BTC. The next halving, expected around 2028, will cut the subsidy to 1.5625 BTC.
- Not a price floor. The price can and has traded below estimated mining costs. Difficulty then adjusts down as miners leave, which lowers the cost for those who stay.
FAQ
How much does it cost to mine 1 bitcoin right now? The live figure at the top of this page uses the current hashrate and block rewards. At the default assumptions (22 J/TH, $0.05/kWh) it is electricity only. Move the sliders to match a specific miner.
Why do other sites show a different mining cost? They use different assumptions (fleet efficiency, power price) and often include capital and operating costs. Our method is deliberately simple and transparent, and the inputs are adjustable.
Is bitcoin mining profitable at home? Rarely. Home electricity usually costs $0.10–0.30/kWh. Set the power price slider to your tariff and the efficiency to your machine, and compare with the price.
How often is the data updated? Every six hours. The chart covers the last three years.
Does the cost include transaction fees? Fees are part of the reward miners earn per block, so they lower the cost per BTC. The current share of fees in daily rewards is shown under the sliders.
Estimates for information only, not financial advice.