Satoshi's Bitcoin Mining Costs Estimated Under $3,700, Says Cardano Founder

Cardano founder Charles Hoskinson has estimated that Satoshi Nakamoto, the anonymous creator of Bitcoin, likely spent under $3,700 on electricity to mine 1 million BTC BTC - $108969.698 during the cryptocurrencys earliest days. According to Hoskinson, Bitcoin was mined between 2009 and 2010 when the network had extremely low difficulty, negligible competition, and mining was done using CPUs rather than specialized hardware.

Source: tokenpost.com

Related symbols: BTCUSD

2025-07-06 11:54:02 GMT.

Link to source Join our Telegram channel

Price & Market Data

Price: $108969.698

Volume 24h: $40,406,359,486.03

Market Cap: $2,167,276,530,138.19

Description

Bitcoin (BTC) is a cryptocurrency launched in 2010. Users are able to generate BTC through the process of mining. Bitcoin has a current supply of 19,888,762. The last known price of Bitcoin is 108,865.05092545 USD and is up 0.64 over the last 24 hours. It is currently trading on 12238 active market(s) with $39,932,144,572.00 traded over the last 24 hours. More information can be found at https://bitcoin.org/.