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Hass McCook @HassMcCook
, 8 tweets, 6 min read Read on Twitter
1) Updated Executive Summary numbers from my #bitcoin cost & #sustainability model

Highlights:
- Avg Cost to Mine: $3,750 (ranging from $3000 to $4000)
- Total CO2e: 0.034Gt (0.06% of global)
- Total Energy: 63TWh/yr (0.04% of global)

medium.com/@hassmccook/co…
2) Changes in #Bitcoin #mining metrics
3) Major Assumption Changes:

- Since my previous report demonstrated that “$/GH is king” due to low electricity prices amongst most large miners, the Antminer T15 will be taken as the proxy benchmark #bitcoin ASIC for this update
4) A new “GH/kg” Manufacturing metric comes in to play. By the end of 2018, weight of material required to produce 1TH dropped 5%, from 300 grams (excl. PSU) to 285 (S9i was net 4.2kg, the T15 net 6.6kg)
5) The dramatic drop in #bitcoin price has caused negative hash rate growth over the past 6 months. I will be dropping my difficulty increase assumption from 7.2% to 5.3% accordingly (See Table 2 in attached article)

medium.com/@hassmccook/th…
6) I originally assumed Bitcoin was powered by the "World Avg" Energy Grid. Analysis by @CambridgeAltFin @mrauchs showed that 28% of the power used to mine #Bitcoin is renewable (majority Hydroelectric). This reduces the average CO2e per kWh from 0.6 tonne/MWh to 0.53 t/MWh
7) All other assumptions remain the same.

My GUESSES going forward:
1- Hash rate starts growing again until its cost approaches price
2- Price comes down to cost ($3750) in the very near short term @MustStopMurad
3- Mining will get cheaper (>20% over next 6 months)
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