Calling the Cambridge Bitcoin Electricity Consumption Index the “gold standard,” Waters said Coin Metrics innovated on its methodology by pinpointing how much of the Bitcoin network’s. If newer, vastly more efficient machines dominated the network hashrate, then the efficiency overall would be better than one that didn’t have this dominance factored in.
“Manufacturing matters a lot,” said Karim Helmy, an independent researcher and lead author of the report who came up with the method for parsing which machines dominated the network overall. “The overwhelming majority of hashrate is currently generated by newer generation Bitmain machines. And the network is astoundingly efficient.
The overall ranking demonstrates how strong the manufacturer and the newness matter. Our top three machines are all produced by Bitmain, and rank in chronological order based on their relative age. “The state-of-the-art machine is far more efficient now,” said Waters.Here’s a breakdown of each of the three factors we analyzed and how the 11 machines stacked up.Efficiency is a simple calculation based on the manufacturer’s specifications of the machine’s performance based on power drawn.
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