How much does your mining rig cost to run? Our mining rig has 3 GPU’s that draw 400 watts each. That is 1200 watts per hour. COM Ed charges us .12c/kw during off peak hours, and .20c/kw during peak hours. That averages .16c/kw on a daily basis. Our rig runs 24×7, so that is $3.84 per day or $92.16 per month.
Rumors are now circulating that in India there is a mining rig that takes up a whole office, is water cooled, and draws about 1000x the amount of power that we do.
Regardless of whether you are drawing 1200 watts per hour or 1 million watts per hour, someone has to pay for that electricity. In the UK, one unlucky Bitcoin miner found out the hard way that the flat he leased, which included utilities, didn’t cover the extra $600/month he was drawing in electricity. He was quickly evicted.
If you are going to operate a large scale mining operation, and you rent, you better make sure your rental unit is not a separate meter or you may find yourself looking for another apartment. Even if your building has a single meter for multiple units, there better be enough units to ensure the landlord doesn’t notice a few extra hundred dollars per month on his bill.
We predict in the next year, or two, that general lease agreements will includes some sort of mining clause. Remember, someone has to pay for that electricity and it’s not going to be your landlord.
