Mining Lab · Miners · Iceland
Household electricity in Iceland costs 14.6 cents per kilowatt-hour. That is rank 29 of 69 in Europe. What it means for a mining machine is below.
At 14.6 cents, 3 of the 126 machines pay off, and only the most efficient ones. The margin is thin: if network difficulty rises or the price falls, it tips. The business tariff of 8.2 cents looks different: there, 80 machines pay off.
| Model | TH/s | J/TH | Net/day | Break-even |
|---|---|---|---|---|
| Antminer S23 XP Hyd | 600 | 8.9 | +1.65 € | 15.9 ct |
| Antminer S23 Hyd 3U | 1,160 | 9.5 | +0.75 € | 14.9 ct |
| SealMiner A4 Ultra Hyd | 886 | 9.4 | +0.73 € | 15.0 ct |
| Bitaxe Gamma 602 | 1.3 | 11.5 | -0.01 € | 12.3 ct |
| Bitaxe Gamma 601 | 1.2 | 15.0 | -0.02 € | 9.4 ct |
| Nerdaxe Gamma 601 | 1.2 | 15.0 | -0.02 € | 9.4 ct |
| Nerdaxe Ultra | 0.5 | 26.0 | -0.03 € | 5.4 ct |
| BTC Solo Lite 1.2T | 1.2 | 19.2 | -0.04 € | 7.4 ct |
This figure is the pure electricity input needed to earn one whole bitcoin through the network, calculated with the most efficient machine in the comparison and the tariff above. Hardware, cooling, staff and downtime are not in it. If it sits above the bitcoin price, mining costs more than the result is worth.
Within Europe more than forty cents separate the cheapest household tariff from the dearest. That decides profit and loss far more sharply than any choice of machine. The neighbours by price:
Buy machines, grow hashpower, push power costs down. The same arithmetic as here, only without real money.
Opens straight away. No account, nothing to install.