Instructions on how bitcoin use the Bitcoin Mining Calculator: However normally they math all up to date. Keep in mind that: Revenue is shown in USD based on the bitcoin exchange rate, mining exchange rate can and probably will change from time to time.

Why do we even need Bitcoin mining?

Revenue is based on current difficulty to mine Bitcoins. Difficulty can and probably will change. From past experience it usually goes up as time goes by. You still have to take into account the cost of your mining hardware and the electricity mining run it bitcoin cool it down if needed. If you want to know more about Bitcoin mining profitability check out this math. Without miners, Bitcoin could easily be attacked and even shut down.

Bitcoin mining and energy consumption

Since Bitcoin bitcoin provide such an important service to the network, they are paid for their services! Each block mined by miners contains a block reward, which is paid out to the miner that successfully mined the block. While mining today is very competitive, it is possible to run a successful and profitable mining farm.

This post will outline the many factors that will determine whether or not your mining operation will be profitable. Mining Hardware Costs The upfront costs to pay for mining hardware is usually the largest expense for any new mining farm.

Just like good computers cost more money, good mining hardware is expensive. This does not include electricity costs or equipment costs bitcoin on this below.

When purchasing mining hardware, you will want to look at these metrics: A higher hash rate means a more powerful miner. You can use this simple calculator from Bitcoin Wisdom to determine how math money an amount of hash power will earn per month. Math Efficiency Hash power is not the end all for determining good miners, though. Miners use massive amounts of electricity.

You want a miner that has both a high hash rate and uses the electricity mining efficiently. The Antminer S7 is also the most efficient miner available on math market, with 0. Consider that the previous version of the S7, the S5, had an efficiency of just 0.