Wont it spend a ton of electricity?

bitcoin mining

It all depends on what kind of equipment you are using and how much your electrical utility provider charges you for usage. With the new ASIC’s coming out, power usage is much less pronounced than previous FPGA rigs or mining from GPU cards. There is a very good calculator out there for you to get a better idea of what your cost would be considering a lot of factors, to include power: http://www.bitcoinx.com/profit/

Written on 15 Apr 2013.