1.7 KiB
+++ title = "Mining Bitcoin with Pi - Part II" date = 2015-10-16
[taxonomies] tags = ["RaspberryPi", "Bitcoin"] +++
I mined a total of 0.24359921 Bitcoin (BTC) with the Raspberry Pi and Butterfly Labs 5 GH/s miner from December 17, 2013 - July 29, 2015.
Here’s a breakdown of costs:
Total = $961
- Hardware = $390
- Electricity = $571
Total cost of power over that period of approximately 14,136 hours was calculated assuming $0.19 / kWh by taking the average over a one year period. The power consumption was approximated by recording usage with a P3 Kill A Watt over a ten day period and interpolating linearly.
{{ image(src="https://raw.githubusercontent.com/kylejcarlton/zola-theme-terminimal/master/img/BTCMinerPowerUsage.png", position="left") }}
Thanks to the technology behind Bitcoin, you can see the full contents of the wallet where mining profits were deposited on BlockChain.info @ 1BsWqHJh5kwLNHZzj6Q6DGaxRZVTK9U9A6 and a graph over time.
{{ image(src="https://raw.githubusercontent.com/kylejcarlton/zola-theme-terminimal/master/img/BTCMinerProfitability.png", position="left") }}
With the exchange rate of Bitcoins to USD at the time of writing this, the Return on Investment (ROI) with a balance of 0.24359921 BTC is about negative (-) $896. Breaking even would require the exchange rate to reach $3,844 USD / BTC; historically speaking the highest was around $1,100 in late 2013. Never say never though, here’s the current price from CoinDesk.