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11 sats \ 0 replies \ @spiderman OP 16h \ parent \ on: Do Miners Push Up Production Cost of Bitcoin? bitcoin
I did not mean the inefficiency of my personal mining setup makes my sats fetch more.
This is what I mean.
If a new miner joins a pool, he consumes his share of energy, which is not-zero even with the most efficient hardware and cooling agents imaginable.
But total sats mined globally (per day) remains fixed.
Assuming the operations of the old miners remain the same, kWH per BTC (global energy consumption dedicated to mining divided by coins mined) is higher than it was before the new miner joined.
And this is what I mean by each bitcoin costs more in terms of energy. Is my reasoning correct?
And if so, does it also impact how much do those miners (each seeing smaller yield) sell their coins for, again, ceteris paribus?