Early Miner's Electricity Bill: $5.68 for 50 BTC Block

On September 7, 2010, an early Bitcoin miner described their estimated $5.68 electricity bill for mining a 50 BTC block as 'a net loser.'

The miner, TTBit, measured their computer's power consumption at 140 watts while producing about 2.2 megahashes per second. Using a mining calculator, they estimated an average waiting time of approximately 338 hours to find a valid block, which would take around 14 days and two hours.

Running the machine for that period would consume roughly 47.33 kilowatt-hours of electricity at $0.12 per kilowatt-hour, making the total cost $5.68.

This calculation was not a guarantee of profitability, but rather an estimate based on the miner's computing power and Bitcoin's difficulty level at the time.