Welcome to 99Bitcoins’ simple Bitcoin Mining Calculator This simple Bitcoin mining calculator will allow you to determine how much bitcoin mining profitability calculator can profit from a certain Bitcoin miner. It takes into account all relevant costs such as hardware, electricity and fees. However normally they are all up to date. Revenue is based on current difficulty to mine Bitcoins.
From past experience it usually goes up as time goes by. If you want to know more about Bitcoin mining profitability check out this page. How to Calculate Bitcoin Mining Profitability Bitcoin mining secures the Bitcoin network. Without miners, Bitcoin could easily be attacked and even shut down. Since Bitcoin miners provide such an important service to the network, they are paid for their services! Each block mined by miners contains a block reward, which is paid out to the miner that successfully mined the block.
While mining today is very competitive, it is possible to run a successful and profitable mining farm. This post will outline the many factors that will determine whether or not your mining operation will be profitable. Mining Hardware Costs The upfront costs to pay for mining hardware is usually the largest expense for any new mining farm. Just like good computers cost more money, good mining hardware is expensive.
200 worth of bitcoins per month, meaning just based on hardware costs alone it will take more than three months to get back your money. A higher hash rate means a more powerful miner. You can use this simple calculator from Bitcoin Wisdom to determine how much money an amount of hash power will earn per month. Hardware Efficiency Hash power is not the end all for determining good miners, though. Miners use massive amounts of electricity.
You want a miner that has both a high hash rate and uses the electricity provided efficiently. GH is the metric used to display a miner’s efficiency. The Antminer S7 is also the most efficient miner available on the market, with 0. Consider that the previous version of the S7, the S5, had an efficiency of just 0. That means the S5 uses twice as much electricity per hash as the S7. GH and also has good hash power is the key for any profitable mining operation. Equipment Costs Miners generate heat, and also need to be supplied with electricity.
Unless you already have the needed parts, you will likely need to purchase cooling fans and power supplies. Electricity Costs Electricity costs can make or break any mining operation. A monthly electric bill means monthly costs on top of the upfront cost of the hardware. Bitcoin network’s hashing power is located there. In the USA, for example, most mining hardware is run in Washington State, where there is cheap hydroelectricity.
Venezuela’s crisis and cheap electricity has also made Bitcoin mining extremely profitable there. Don’t discount electricity as a cost. It can make or break your mining operation. Extra Heat and Weather Creative miners in cold areas can use the heat generated by miners to heat their houses in the winter.