Bitcoin Mining Profit Calculator
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Why Our Calculator is the Most Accurate
Many factors affect your mining profitability. Two of the main factors that influence your profitability are:
- The Bitcoin price and the total network hash rate.
- The Bitcoin network hash rate is growing at a rate of 0.0533% per day. This means if you buy 50 TH/s of mining hardware, your total share of the network will go DOWN every day compared to the total network hash rate.
Our calculator assumes the 0.0533% daily increase in network hash rate, which has been the average daily increase over the past 6 months.
Without factoring in this growth, most Bitcoin mining calculators show results that appear MUCH, MUCH more profitable than reality.
How to Use Our Calculator
To use our calculator, all you need to do is plug in your miner's hash rate and power consumption as well as your electricity cost into the form.
If you have many miners, then you can multiply the hash rate and power consumption by the number of miners you have. Or just fill the form in for one miner, and then multiply that number by the number of miners you have.
If you have many different kinds of miners you are deploying, you will need to run this calculation for each one.
Bitcoin Mining Calculator Inputs
What Our Calculator Assumes
Since our calculator only projects one year out, we assume the block reward to be 3.125 BTC. We also use the current mining difficulty in our calculations.
| Mining Difficulty | Block Reward |
|---|---|
| 145,042,165,424,853.30 | 3.125 BTC |
Factors That Affect Mining Profitability
Mining can be an effective way to generate passive income. However, numerous factors affect mining profitability, and often they are out of your control.
It is important to understand the constantly changing dynamics that play into mining profitability, especially before you invest your hard-earned money. Nevertheless, a proper passive income can be generated if you play your cards right.
The Bitcoin Price
Even though an increase in the network hash rate will cause your share of the network hash power to go down, the Bitcoin price can help make up some of these losses if it goes up.
Block Rewards and Transaction Fees
Every time a block is validated, the person who contributed the necessary computational power is given a block reward in the form of new-minted BTC and transaction fees. Bitcoin's block time is roughly 10 minutes. Every 210,000 blocks — roughly 4 years — the amount of BTC in the block reward halves.
Hash Rate
The higher the hash rate of an individual Bitcoin mining machine, the more bitcoin that machine will mine. Typically, a higher hash rate requires more energy, but that is not always the case.
All you need to know: a higher hash rate for the same amount of power consumption is always better.
Mining Difficulty
Difficulty is a variable that determines how hard it is for a miner to find a block. If the total network hash rate goes up, the difficulty will increase and your profitability will decrease. This adjustment happens approximately once every two weeks.
Disclosure: Mining metrics are calculated based on the current but increasing network hashrate and use the current Bitcoin exchange rate. These figures vary based on the total network hash rate and on the BTC to USD conversion rate. The block reward is fixed at 3.125 BTC. Future block reward and hash rate changes are not taken into account.
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