How to use the Bitcoin Profit Calculator?
Every aspect of our Bitcoin Profit calculator has been developed for miners by miners.
The latest version of the Bitcoin Profit calculator makes it simple & easy to quickly calculate Bitcoin profits by adjusting the mining hashrate values or by selecting one of the Bitcoin Profit hardware devices from the ASIC Bitcoin miners list.
The Bitcoin Profit information is updated continually with the current block mining information. This information is used as the default inputs for the BTC mining calculator along with the default hashrate & wattage specs from the best ASIC Bitcoin miner.
With this information & our backend hashrate calculator, you can calculate your BTC mining profits – providing valuable and also strategic profitability information enabling you as the miner to make better informed decisions about Bitcoin Profit.
Along with the Bitcoin Profit profitability, the list of top 5 ASIC Bitcoin miners is updated frequently. A Bitcoin miner is also referred to as a Bitcoin Profit rig, or a Bitcoin Profit hardware device, or a Bitcoin Profit machine, but we merely call them miners, or more specifically, Bitcoin miners.
Each BTC mining calculator input has been preloaded with the best Bitcoin Profit hardware hashrate and also consumption in watts, average electricity costs as well as the current Bitcoin price, Bitcoin block reward, and Bitcoin difficulty.
Calculate your Bitcoin profitability & estimated mining rewards by starting with the Bitcoin Profit hashrate calculator inputs above; mining hardware, mining costs, and mining reward.
How Bitcoin Profit Calculator Works
Bitcoin Profit Calculator is the process of securing & validation Bitcoin transactions on the Bitcoin blockchain.
In order to secure & validation transactions – Bitcoin miners are constantly trying to solve the next Bitcoin block.
This process requires an enormous amount of computing power, which is represented by the Bitcoin hashrate.
The Bitcoin hashrate is number of possible solutions (hashes) being generated per second. As of January 2020, the Bitcoin hashrate peaked at 131 EH/s.
Bitcoin Profit also generates new Bitcoin.
When a Bitcoin miner finds the correct hash to solve the next Bitcoin block, the miner is rewarded with Bitcoin.
Currently, 6.25 Bitcoin are made when a block is solved.
Bitcoin Profit Calculator Guide
To start mining Bitcoin, you will need cheap electricity (a lot of it), an internet connection, and at least one Bitcoin Profit hardware device – an ASIC Bitcoin miner.
In the very early days (2009-2011) you could mine Bitcoin with a CPU, then mining software was created to utilize the computing power of a GPU, then came FPGAs, and in 2013 the first ASIC Bitcoin Profit devices became available.
Now, all Bitcoin Profit is done using an ASIC Bitcoin miner as it’s no longer profitable to mine with a CPU, GPU or FPGA.
That being said, most ASIC miners require 220 volts or higher and at least 20 AMPs. You can check the Bitcoin miner specs to see the power requirements.
At this point you should determine your available power capacity in wattage at the location where you will be mining.
If you’ve a 200 AMPs electrical service with 220 volts, then the total power capacity is 200 AMPs * 220 volts = 44,000 watts.
But you never want to use more than 75% of that capacity, otherwise you will trip the breakers.
So, 44,000 watts becomes 33,000 watts of usable power capacity.
Now that you know how much power capacity you’ve (more is better), you can determine how many miners you can run. In this case, it would be about 11 Bitmain Antminer S17+ at 2,920 watts per device.
Once you’ve the Bitcoin Profit hardware in hand, the last step is to configure each miner.
Typically, the configuration consists of setting the Bitcoin Profit pool, user name, and password.
Most Bitcoin Profit device manufacturers provide a guide on how to configure the Bitcoin Profit hardware.
Bitcoin Profit Calculator Pools
Given the Bitcoin hashrate, it’s statically impossible to create enough hashes to solve a Bitcoin block mining solo (by yourself).
To increase the chances of solving a Bitcoin block, you can join a pool of other miners all working together to solve a block.
Once a block is solved the Bitcoin Profit reward is split between the pool participants.
And in turn the Bitcoin Profit pool charges a small fee, typically 1% to 4%.
Here is a list of popular Bitcoin Profit pools.
Is Bitcoin Profit still profitable?
Not right now. Mining Bitcoin isn’t profitable at this time with the mining hardware hashrate of 112.00 TH/s, electricity costs, and pool / maintenance fees provided.
While, mining Bitcoin isn’t profitable using the Bitcoin Profit hardware hashrate and other information as of right now, however the blockchain is constantly growing and the Bitcoin difficulty increase and decreases over time based on the network hashrate, so we recommend checking your mining profitability frequently.
The Bitcoin Profit profitability results and mining rewards were calculated using the best BTC mining calculator with the following inputs.
A BTC mining difficulty of 15,138,043,247,083.00, a BTC mining hashrate of 112.00 TH/s consuming 3,472 watts of power at $0.10 per kWh, and a block reward of 6.25 BTC at $8,900.85 (BTC to USD).
How many Bitcoin can you mine a day?
Based the mining hardware inputs provided, 0.00093021 Bitcoin can be mined each day with a Bitcoin Profit hashrate of 112.00 TH/s, a block reward of 6.25 BTC, and a Bitcoin difficulty of 15,138,043,247,083.00.
After deducting mining power costs & mining fees, the final daily Bitcoin profit is ($0.05) Bitcoin to USD.
How long does it take to mine 1 Bitcoin?
As of Monday, May 25, 2020, it would take 1,075.0 days to mine 1 Bitcoin at the current Bitcoin difficulty level along with the mining hashrate and block reward; a Bitcoin Profit hashrate of 112.00 TH/s consuming 3,472.00 watts of power at $0.10 per kWh, and a block reward of 6.25 BTC.
It is recommended to point out that the number of days calculated doesn’t account for difficulty increases and decrease as well as block reward increases and decrease (halvening).