How much oil need to mined one bitcoin?

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2017-10-30 20:00:05

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How much oil need to mined one bitcoin? Source:

To Consider how much one bitcoin is worth in terms of gold, other precious metals and the dollar — quite an exciting experience, which periodically indulge journalists of various publications. So, the staff OilPrice calculated how much you need to spend oil to get one .

American barrel — 42 gallons, or 159 liters of oil. According to the latest data, annually for the needs of mining consumed about 22.5 terawatt-hours, the production of which is necessary to spend about 13 million barrels. Given that every 10 minutes produced a 12.5 bitcoin, it is easy to calculate that the cost of energy required for production of one bitcoin would be approximately 20 barrels.

Interesting and that is this: the price of bitcoin is now about 6300 dollars a barrel's worth about $ 60. So, if you spend 20 barrels to mined one bitcoin, and then sell, the money you to buy more than a hundred barrels.

Such is the interesting arithmetic.

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