Estimate your potential profits from cryptocurrency mining by factoring in hardware efficiency, energy costs, and market conditions.
How to Use the Calculator
Input Parameters:
- Hash Rate (your mining hardware's computational power)
- Network Hash Rate (total mining power of the blockchain network)
- Block Reward (cryptocurrency earned per mined block)
- Coin Price (current market value of the cryptocurrency)
Cost Variables:
- Power Consumption (energy usage of your hardware in watts)
- Electricity Cost (price per kWh in your region)
- Calculate: Click “Calculate Profitability” to generate your projected profit/loss.
Key Factors Affecting Mining Profitability
1. Hash Rate
Measured in hashes per second (H/s), this reflects your hardware’s mining speed. Higher hash rates increase your chances of earning rewards.
2. Electricity Costs
Mining consumes substantial power. Profitability hinges on energy efficiency and local electricity rates (e.g., $0.10–$0.30 per kWh).
3. Mining Difficulty
Adjusts dynamically based on network participation. More miners = higher difficulty = reduced individual rewards.
4. Block Reward
The cryptocurrency earned per block (e.g., 6.25 BTC for Bitcoin in 2024). Halving events cut rewards periodically.
5. Mining Pool Fees
Pools charge 1–3% fees for collective mining. Solo mining avoids fees but offers inconsistent payouts.
6. Hardware Efficiency
Modern ASIC miners (e.g., Bitmain Antminer S19) outperform GPUs in energy efficiency, reducing long-term costs.
Profitability Formula
Profit = Revenue − (Electricity Cost + Hardware Depreciation)
Revenue Calculation:
\[
\text{Revenue} = \left( \frac{\text{Hash Rate}}{\text{Network Hash Rate}} \right) \times \text{Block Reward} \times \text{Coin Price}
\]
Electricity Cost:
\[
\text{Daily Cost} = \text{Power Consumption} \times 24 \times \text{Electricity Rate}
\]
Example: Bitcoin Mining Profitability
Assumptions:
- Hash Rate: 100 TH/s
- Electricity Cost: $0.12/kWh
- Hardware: 3 kW power draw
- Bitcoin Price: $30,000
| Variable | Calculation | Result |
|---|---|---|
| Daily Electricity Cost | 3 kW × 24h × $0.12 | $8.64 |
| Daily BTC Mined | (100 TH/s ÷ 25.6T) × 6.25 BTC | 0.0244 BTC |
| Revenue (USD) | 0.0244 BTC × $30,000 | $732 |
| Net Profit | $732 − $8.64 | $723.36/day |
👉 Compare mining hardware efficiency
Profitability Scenarios
| BTC Price | Electricity Cost/kWh | Daily Profit |
|---|---|---|
| $25,000 | $0.10 | $610.16 |
| $30,000 | $0.12 | $723.36 |
| $40,000 | $0.20 | $915.20 |
FAQs
Q: Is Bitcoin mining still profitable in 2024?
A: Yes, but only with efficient hardware and low electricity costs (<$0.15/kWh).
Q: How does halving affect miners?
A: Block rewards drop by 50%, squeezing margins unless coin prices rise proportionally.
Q: GPU vs. ASIC – which is better?
A: ASICs dominate Bitcoin mining. GPUs are flexible for altcoins like Ethereum but less efficient.
👉 Explore energy-saving mining setups
Conclusion
Use this calculator to model scenarios and optimize your mining strategy. Prioritize energy efficiency and cost management to maximize returns in competitive markets.
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