Techengineer21 on Nostr: Dynamic #Bitcoin miner scaling based on Hash Price: Hash Price has risen ...
Dynamic #Bitcoin miner scaling based on Hash Price:
Hash Price has risen significantly in the last few months making mining profitable at lower efficiencies.
Here's how I used @LincoinMining to automatically adjust miner power based on current hash price.
First you want to determine your specific breakeven hash price of your miners. This is a function of your electric rate and the efficiency of your miners. In this scenario I have a Whatsminer m30s++ 110T (31W/T) and a m31s+ 80T (43W/T)
The rough calculation equation is:
BreakEven HashPrice = Miner Daily Consumption (KW) / Electric Cost ($/KWh) / Miner TH
Next, set up rails in Lincoin mining dashboard that use Hash Price as a signal.
Apply the rail to your miner and it will automatically adjust!
Widespread use of dynamic scaling is good for the #Bitcoin network. Overall it will help to smooth out short term spikes in transaction processing in between 2 week Difficulty adjustment periods. Miners are naturally incentivized to increase hash during brief periods of demand
Published at
2023-12-22 22:37:32Event JSON
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"content": "Dynamic #Bitcoin miner scaling based on Hash Price:\n\nHash Price has risen significantly in the last few months making mining profitable at lower efficiencies.\n\nHere's how I used @LincoinMining to automatically adjust miner power based on current hash price.\n\nFirst you want to determine your specific breakeven hash price of your miners. This is a function of your electric rate and the efficiency of your miners. In this scenario I have a Whatsminer m30s++ 110T (31W/T) and a m31s+ 80T (43W/T)\nThe rough calculation equation is: \nBreakEven HashPrice = Miner Daily Consumption (KW) / Electric Cost ($/KWh) / Miner TH\n\nNext, set up rails in Lincoin mining dashboard that use Hash Price as a signal. \nApply the rail to your miner and it will automatically adjust!\n\nWidespread use of dynamic scaling is good for the #Bitcoin network. Overall it will help to smooth out short term spikes in transaction processing in between 2 week Difficulty adjustment periods. Miners are naturally incentivized to increase hash during brief periods of demand https://image.nostr.build/a159f0d20814a7d810bd0b0a4183e77d3acf84e184b2d37ae1294da526b502e9.png ",
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