The production of one Ethereum coin currently costs $152. This was announced by the CEO of the Atlantic Crypto mining company Brian Ventura in his report on Medium.
If you take the average cost of electricity in the U.S. 12 cents/kWh, then the current power required for the production of one ETH is 1.2 MWh and it will cost 152 dollars, writes Brian Venturo.
At the time of the calculation, the price of one ETH coin was $275. Now with the price of one Ethereum (ETH/USD) coin trading at $295, this is slightly less than half of the current cost of the second crypto.
There are huge differences between electricity prices in different regions of the United States. For example, for Idaho, North Dakota and Washington, the average cost for residential houses is only 8 cents, there the mining of one Ethereum cryptocurrency will cost $100. In some areas, where electricity costs 4 cents, one ETH coin will cost $50.
The Ethereum community is now actively discussing the possibility of reducing the fee for the block in EIP 1234.
Researcher and crypto enthusiast Eric Connor analyzed how much the Ethereum network will overpay for its security compared to bitcoin at 2 ETH per block:
Connor believes that with one ether per block, Ethereum will pay slightly less for its safety, but, according to him, there is nothing terrible in this:
At the moment, approximately 66% of the Ethereum holders are inclined to reduce the fee to one ETH per block. Another 33% agree to reduce it to two ETH per block. At the same time, almost no one wants to leave the current award with three ETH per block.