November 18, 2021
As we’ve discussed previously on this blog, mining Bitcoin is an extremely energy-intensive process requiring a lot of computing power. Running a Bitcoin mining rig throughout the day will consume a lot of energy and drive up your electricity costs. This heavy energy usage could impact the profitability of your mining operations, so deploying solar energy to power your rig could lower your operating costs while also positively impacting the environment. With this mind, let’s take a look at just how much energy it takes to mine Bitcoin, and how many solar panels you would need to power your Bitcoin mining rig.
How Many Solar Panels Do You Need To Mine Bitcoin?
According to DIY Solar Shack, approximately 6000 watts of solar panels are required to run a Bitcoin mining rig with multiple GPUs during the day, while also charging batteries in order to mine Bitcoin during the night. This is the equivalent of 20 x 300 watt solar panels. Additionally, it is suggested that a 500Ah battery system is used alongside the solar panels to power the rig for overnight mining. Of course, the number of panels will vary depending on your location and the overall energy consumption of your mining rig.
Mining Bitcoin With Solar Energy
Using solar energy to mine Bitcoin is increasingly popular owing to the energy-intensive nature of the crypto mining process and the impact of this energy usage on operating costs. Additionally, many have suggested that renewable energy sources like solar will be crucial to the continuing feasibility of mining cryptocurrencies like Bitcoin, because the current carbon emissions resulting from crypto mining aren’t sustainable moving forward. With these issues in mind—operating costs on a personal level and carbon footprint on a global scale—using solar energy to power cryptocurrency mining makes sense for all parties involved. On top of this, implementing battery storage alongside a solar PV system can provide a new level of autonomy and energy independence for crypto miners.
How Much Solar Energy Is Needed To Mine Bitcoin?
Assuming you live in a sunny part of the United States, you can produce about 229.2 watts per square meter of solar panels each day. A typical Bitcoin mining rig will need about 450 to 500 watts, but in order to turn a profit from the mining process you’ll likely need to run multiple GPUs and, as such, require somewhere in the region of 900 to 1500 watts per day. Working with these figures, you would need between 2.5 and 3 square meters of solar panels to run a standard rig, or 3 to 6 square meters of solar panels to run a rig with multiple GPUs.
Are you interested in powering your cryptocurrency mining process with solar energy? Reach out to YSG Solar today. We will identify the ideal energy solution for your specific needs and turn that solution into a cost-saving reality. Call the office at 212.389.9215 or send us an email to learn more about mining cryptocurrencies like Bitcoin with solar.
YSG Solar is a project development company responsible for commoditizing energy infrastructure projects. We work with long-term owners and operators to provide clean energy assets with stable, predictable cash flows. YSG's market focus is distributed generation and utility-scale projects located within North America.
Sources:
https://diysolarshack.com/how-many-solar-panels-to-mine-bitcoin/
Featured Photo by Jievani Weerasinghe on Unsplash.