How do you know if mining is right for you? Some seem to believe they will be able to quit their nine-to-five job after investing in a few Bitcoin miners – unfortunately, that is not necessarily the case. However, there are numerous factors that affect mining profitability, and often times they are out of your control. Mining can be an effective way to generate passive income. ➤ MORE: Bitcoin mining machines & hardware Factors That Affect Mining Profitability We also use the current Bitcoin price in our calculations, but you can change the Bitcoin price to anything you'd like to get better data. Since our calculator only projects one year out, we assume the block reward to be 6.25. ➤ MORE: Bitcoin mining pools & sites What our Calculator Assumes The price has gone down for most of the past year, which is a factor that should be strongly considered in your calculations. We suggest you enter a custom Bitcoin price into our calculator based on what you expect the average price to be over the next year. The Bitcoin price is rising at a slightly lesser 0.3403% per day over the past year.
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Subscribe for Free The Bitcoin PriceĮven though 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. Bitbo lets you view real-time Bitcoin price action, stats, and key economic indicators - all for free. Your profits will equal (money earned from selling) + (unsold crypto * predicted price) - (total expenses + hardware costs) Never Sell Coins Select this option if you plan on holding all of your crypto.Sign up for our newsletter and get access to Bitbo. For example, if you plan to sell 25% of your new crypto, enter 25 into the Sell Monthly field. (electricity, rent, etc.) Your profits will equal (unsold crypto * predicted price) - (hardware costs) Sell a Portion Monthly Selecting this option will show the Sell Monthly field below, this is where you input what portion of crypto you would like to sell each month. Your profits will equal (money earned from selling) - (total expenses + hardware costs) Sell to Cover Expenses Only sell enough crypto to cover your monthly expenses. Selling Profile has 4 different options: Sell Coins Monthly Profitability is calculated as if you were to sell all of your mined coins at the end of each month. Price Change must be set to something other than 0 to have any effect on the profitability projections.
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What is this? Selling Profile tells the calculator how to use the Price Change value. It can be used to predict the total cost to operate your mine over a given period of time.
Total Costs This view sums your power and recurring costs.
A high diff change will cause you to generate fewer coins 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. Coins Generated This view looks at the number of coins you can expect to generate in the future. 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. This view assumes the price of the coin will stay the 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. 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. What is this? The profitability chart can help you visualize your long term mining projections. You could try lowering the diff changeįor a less agressive prediction or disable it altogether. This is likely due to a large diff change value which causes your predicted profitability to turn negative in the future. If it is never, your break-even time has been calculated to be greater than 10 years. 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. The diff change can be excluded from the calculation by toggling the "Use Diff Change" switch. Is increasing quickly, this will greatly increase your break-even time. The calculator also takes the changing difficulty (diff change) into account. How is this calculated? Time to break-even is calculated by comparing your hardware cost (which you must enter below) to your predicted monthly profits and seeing how long until the initial hardware cost is paid off.
What is this? The Break-Even Analysis feature can help you predict how long it will take to become profitable for a given setup.
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