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Hashoveride (₿en Gagnon) Profile picture
Hashoveride (₿en Gagnon)
@hashoveride
Ben Gagnon (黄比特) Chief Mining Officer at Bitfarms #bitcoin. Opinions are my own. 🇭🇰 & 🇱🇨
Mar 29, 2023 • 12 tweets • 9 min read
Yesterday I did a presentation on #Bitcoin mining economics and hashprice expressed in units of energy.

Click in for a free lesson on Bitcoin mining economics and energy👇

Bonus: You won’t believe which energy source isn’t profitable! BTC miners don’t control revenue.

Network difficulty and Bitcoin price (factors out of your control) determine mining revenue.

This is also called hashprice and is measured daily in USD/Th.
Apr 9, 2022 • 11 tweets • 8 min read
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.
🧵👇 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.