Calculator change is used for the estimated future profits graph and break-even analysis. How is this calculated? This is calculated bitcoin taking your current profits and adding them to each following months profits while factoring in the changing difficulty diff changethe diff change factor can be disabled. Hash power is not the end all for determining good miners, though. However, pay attention to advances in mining technology and efficiency to get a better idea of how the hash rate and difficulty may look down the line. The Bitcoin network hash rate is growing profit a rate of 0.
In the USA, for example, most mining hardware is run in Washington State, where there is cheap hydroelectricity. See below for detailed instructions on how to use it. This will give you a much better idea on your overall potential to run a profitable mining farm. The upfront costs to pay for mining hardware is usually the largest expense for any new mining farm. Toggle navigation My Crypto Buddy.
The Break-Even Analysis feature can help you predict how long it will take to become profitable for a given setup. Calculator block mined by miners contains a bitcoin reward, which is paid out to the miner that successfully mined the block. If the network difficulty is increasing quickly, this will greatly increase your break-even time. Without miners, Bitcoin could easily be attacked and profit shut down. How is this value calculated?
Miners use massive amounts of electricity. You want a miner that has both a high hash rate and uses the electricity provided efficiently. 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. 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 can make or break any mining operation.
A monthly electric bill means monthly costs on top of the upfront cost of the hardware. In the USA, for example, most mining hardware is run in Washington State, where there is cheap hydroelectricity.
Creative miners in cold areas can use the heat generated by miners to heat their houses in the winter. If the heat generated by miners will partly replace your normal heating costs, it is one way to save money and improve your chances of profitability.
Miners in cold areas also have an advantage because they may not need to use extra fans to cool the hardware. The Bitcoin mining difficulty makes sure that Bitcoin blocks are mined, on average, every 10 minutes.
A higher difficulty is indicative of more hash power joining the network. As you would expect, more hash power on the network means that existing miners then control a lower percentage of the Bitcoin network hash power. The image above shows the network hash power over the last 2 years.
From September to February , the network hash rate tripled. Hash rate and network difficulty are external factors that should be accounted for. However, pay attention to advances in mining technology and efficiency to get a better idea of how the hash rate and difficulty may look down the line. Be prepared for price movements and understand that the Bitcoin price is a factor that you cannot control.
The Bitcoin block reward is at least one factor that is predictable. Every 4 years, the amount of bitcoins rewarded in each block is cut in half. The calculator also takes the changing difficulty diff change into account. If the network difficulty is increasing quickly, this will greatly increase your break-even time.
The diff change can be excluded from the calculation by toggling the "Use Diff Change" switch. Why is my break-even time 0 or never? If your break-even time is 0 you have likely forgotten to input your hardware cost below. If it is never, your break-even time has been calculated to be greater than 10 years.
This is likely due to a large diff change value which causes your predicted profitability to turn negative in the future. You could try lowering the diff change for a less agressive prediction or disable it altogether. Recurring costs are fixed costs such as rent or internet. This value, along with power costs are subtracted from your revenue to give profit.
Higher recurring costs mean lower profits and a longer break-even time. The profitability chart can help you visualize your long term mining projections. The chart can operate in one of three views: Total Profits The Total Profits view predicts what your overall profitability will be in the future. This is calculated by taking your current profits and adding them to each following months profits while factoring in the changing difficulty diff change , the diff change factor can be disabled.
This view assumes the price of the coin will stay the same. If you wish to account for a changing price ie if you think the price will rise in the future , switch to the "Coins Generated" view.
Coins Generated This view looks at the number of coins you can expect to generate in the future. This view does not account for any expenses, it simply predicts how many coins you will generate with your given hashrate and the diff change value.
A high diff change will cause you to generate fewer coins in the future. Total Costs This view sums your power and recurring costs.
It can be used to predict the total cost to operate your mine over a given period of time. Price Change allows you to factor in the changing price of the currency into your projections. You can use this to generate accurate best-case and worst-case projections for your operation.
Why does Price Change default to 0? It is impossible to predict what the price of any coin will be in the future, we leave the price predictions up to you.
both Bitcoins and dollars over various time periods (day, week, and month). It will not attempt to extrapolate difficulty or price changes -- it provides only instantaneous calculations (how much you'd make if all conditions remained as they were right now). An API is available at wearebeachhouse.com calculator/json. Bitcoin Mining Calculator is used to calculate mining profitability for Bitcoin mining. Enter your Bitcoin mining hardware hash rate in GH/s along with the power wattage and your cost of electricity - dollars per kilowatt hour ($/kWh). The current Bitcoin difficulty, Bitcoin block. Coins per 24h at these conditions, BTC. Power cost per 24h, USD. Revenue per day, USD. Less power costs, USD. System efficiency, MH/s/W. Mining Factor at the end of the time frame, USD/24h@MHash/s. Average Mining Factor ,