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Iron Brdg Res Inc. OEXFF

"Iron Bridge Resources Inc is a Canada-based company. It is a crude oil and natural gas exploration, development and production company. Its project consists of Elmworth. The company receives maximum revenue from the sale of petroleum and natural gas."


OTCPK:OEXFF - Post by User

Comment by Gladstone22on Jan 26, 2018 9:13am
145 Views
Post# 27439277

RE:NEWS - Jan 26, 2018 ... now that's turning Gas into $$$

RE:NEWS - Jan 26, 2018 ... now that's turning Gas into $$$

5 billion GH/s current mining rate. (6/6/17) Bitcoin currency statistics

Antminer S4—0.703 watt/GH Bitcoin mining hardware

World wide power = 5 billion x 0.703 = 3.515 billion watts = 3.515 million kw

It takes 3.515.million kw hrs to earn 12 bitcoins 6 times in an hour or 72 btc/hr.

That works out to: 48,800 kw hrs/bitcoin.

That is optimistic. Most mining gear is less efficient than the Antminer. Further, the calculation is at a moment in time. A single node with perhaps 2000 GH/sec will not earn fast enough to keep up with the growth of mining power.

Added 6.22.2017 As a cross check: Using 0.32 W/GH as the assumptions from https://digiconomist.net/bitcoin-... and their value for world wide mining power, it is easy to calculate the energy cost as 20.37 thousand kw hrs/bitcoin.

Want a third opinion? Their estimated electricity used over the previous day is 38,068,441 (KWh) Divide this by 24 x 6 x12.5 (number of bitcoins mined in a day.) This leads to 21.149 thousand kw hrs/bitcoin


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