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Both @DigiEconomist and @CambridgeAltFin make their data available to the public. I have had both data sets integrated into my Bitcoin model since early 2021.
Here's what happens when you combine their electricity estimates with historical network hashrate data.
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Here's what happens when you combine their electricity estimates with historical network hashrate data.
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Both data sets assume that the Bitcoin mining network now is LESS efficient now than it was two years ago in 2020.
@DigiEconomist model was showing that at the time of the China Mining ban, the #bitcoin network was operating at the AVERAGE efficiency of a 5 year old Canaan 741.
@DigiEconomist model was showing that at the time of the China Mining ban, the #bitcoin network was operating at the AVERAGE efficiency of a 5 year old Canaan 741.
Due to the undisputed fact that #bitcoin miners become more electrically efficient over time, the only way for this inefficiency to increase is to replace newer more efficient machines with older less efficient machines.
