Why Choose Our Bitcoin Mining Calculator?

Our Bitcoin Mining Calculator is designed to provide the most accurate profitability estimates by considering all factors, including Bitcoin price fluctuations and network hash rate growth. The Bitcoin network hash rate has been increasing by an average of 0.45% per day over the past six months. Our calculator incorporates this growth rate, so that profitability projections are realistic and not overly optimistic.

How to Use Our Calculator

Simply enter your miner’s hash rate, power consumption, and electricity cost into the provided form. If you have multiple miners, multiply the hash rate and power consumption by the total number of miners or run individual calculations for different miner models. Our calculator uses the current bitcoin price and mining difficulty as default values, which you can adjust to test different scenarios.

Key Inputs and Assumptions

• Bitcoin Block Reward: 3.125 BTC
• Current Mining Difficulty: sourced from Blockchain.info
• Configurable Inputs: Hash rate, bitcoin price, power consumption (watts), electricity costs

Top Bitcoin Mining ASICs in 2024

• Antminer S19 XP: 138TH, 3250 watts, $3,629, $2,588/year
• Whatsminer M50S+: 140TH, 3500W, $4,760, $2,494/year
• Whatsminer M50S: 122TH, 3360W, $3,399, $1,972/year
• Antminer S19j Pro: 97TH, 3250W, $1,699, $1,193/year
• Antminer S19 Pro+: 120TH, 5,445W, $2,395, $553/year

Note: Prices and profitability vary based on market conditions, electricity costs, and miner efficiency.

Factors Affecting Mining Profitability

1. Miner efficiency: More efficient hardware and software increases mining output by processing more computations per second.
2. Electricity: Miners generally aim for electricity costs below $0.05 per kWh—ideally in the $0.03 to $0.04 range—with reliable, near-continuous uptime to ensure consistent mining operations.
3. Network difficulty: Higher network difficulty demands more computational power, diminishing the yield from mining efforts.
4. Block rewards and halving events: Scheduled reductions in block rewards decrease the amount of Bitcoin earned over time.
5. Liquidity and capital management: Maintaining sufficient liquidity ensures that operational expenses and bills can be met without resorting to panic selling Bitcoin.

How Bitcoin Mining Works

Bitcoin mining is the process of verifying and recording transactions on the timechain by performing millions of hash calculations until a hash is found that meets a specific target value. Miners engage in a proof-of-work process that secures the network. 

Bitcoin Mining Pools

Mining pools enhance success rates by pooling computational power, splitting rewards among participants after deducting a small fee (1%-4%). Popular pools include F2Pool, Poolin, SlushPool, AntPool, BTC.com, and ViaBTC.