Outsiders often ask, what is crypto backed with? To which we respond its backed by electricity used to mine those coins. But has anyone wondered how much electricity is actually used to mine 1 Zcash ?
Lets do the math.
Current Zcash network hashrate is 780 MH/s. I would assume no sane GPU miner is no longer mining any equihash algo, so lets calculate as if the network is populated only with z9 mini’s. Which means if we assume they are all z9 mini’s that there are 47272 ASICS mining zcash atm.
Overclocked z9 mini uses 390W and produces 16500 Sol hashrate. Which means electricity backing Zcash mining is 18436 kW of power/h.
Each block contains 12,5 Zcash and is mined at average every 2.5 Minute. This means its mined 300 Zcash per hour.
This means each 1 Zcash is backed by 61.45 kW electricity. Average price of electricity is around 0.1 cents per kW but it might be different where you live. At this math, it means 1 Zcash is backed by 6.145 $ worth of electricity with ASICS on network.
These are all calculations without A9 ZMaster that has 50 000 Sols per 620 W or Asic Miner Co Zeon 200,000 Sols which uses 2200W.
And you wonder why the price is going down ?
If I made a mistake anywhere, please correct me.