It was my understanding that the limiting factor, or rather the "cost" of mining bitcoints, ultimately comes down to power consumption. Effectively if $/kWh * kWh/bitcoint < bitcoint value, you can turn a profit.
It was my understanding that the limiting factor, or rather the "cost" of mining bitcoints, ultimately comes down to power consumption. Effectively if $/kWh * kWh/bitcoint < bitcoint value, you can turn a profit.
This is not something you can sensibly do in a residential area. (There are a few people doing Al casting with induction furnaces, but that's not the same as electrolysis of bauxite)
What's the retail cost of electricity in Texas during the day, and what do you pay per kWh for your batteries: capital costs and ongoing costs?
If you pay more per kWh for batteries than retail power prices then any consumer is a fool to engage in the battery scheme. And even if a consumer might be able to make money, the wholesale price is definitely lower than retail. I seem to remember calculating that batteries cost about $0.06/kWh all in in the last ~6mo but wholesale power in TX is more like $0.05 and retail it's usually below $0.12.