{"id":45975,"date":"2021-07-13T11:22:55","date_gmt":"2021-07-13T08:22:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=45975"},"modified":"2025-09-01T14:00:55","modified_gmt":"2025-09-01T11:00:55","slug":"backblaze-estimates-chia-mining-profitability","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/backblaze-estimates-chia-mining-profitability\/","title":{"rendered":"Backblaze estimates Chia mining profitability"},"content":{"rendered":"

The cloud service Backblaze has performed \u043f\u043e\u0434\u0441\u0447\u0435\u0442\u044b<\/a>, according to which even when using free disk space, mining the Chia cryptocurrency would become unprofitable by the fourth month.<\/p>\n

Backblaze factored in its spare disk space totaling 150 petabytes and estimated its weekly revenue from mining Chia at $250,000.<\/p>\n

Analysts noted that to create a large number of plots for the Chia cryptocurrency, multi-core high-performance processors and a large amount of RAM are required.<\/p>\n

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\u201cEven with enterprise-grade solid-state drives, no upfront costs, and a stable price for Chia, weekly mining revenues would be virtually zero by week 16 due to the continually rising mining difficulty,\u201d Backblaze said.<\/p>\n<\/blockquote>\n

The company also calculated the maintenance costs of the equipment assuming a standard rate of $5 per month per 1 TB of disk space. Maintaining disks with a total capacity of 150 petabytes costs $175,000 per week.<\/p>\n

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\u201cWith exponential growth in difficulty, costs would exceed Chia mining revenue within seven weeks. With a steady growth, maintenance costs would exceed revenue by around week 28, after which the operation would run at a loss,\u201d according to the experts.<\/p>\n<\/blockquote>\n

The calculations used a Chia price of $584.6, current at the start of last month. As of writing, the cryptocurrency trades around $260.<\/p>\n

As of now, according to Chia Explorer<\/a>, the network space stands at 36.5 exabytes \u2014 more than 2.2 million 16 TB HDDs.<\/p>\n

Earlier in June, Backblaze announced a cloud mining service for Chia, though experts doubted its profitability<\/a>.
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