Future profitability estimates may be inaccurate. Consider making Diff Change smaller or turning off Dynamic Difficulty. Close Hashrate Help What is this? Hashrate is the only value you need to input to use this calculator, we do the rest of the work for you! Hashrate is the speed which you are mining, and is normally clearly displayed by your mining software or in the specifications for mining hardware. Make sure that you have the correct hashrate suffix selected. The Break-Even Analysis feature can help you predict how long it will take to become profitable for a given setup.
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. The calculator also takes the changing difficulty diff change into account. If the network difficulty is increasing quickly, this will greatly increase your break-even time. The diff change can be excluded from the calculation by toggling the "Use Diff Change" switch. 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. If it is never, your break-even time has been calculated to be greater than 10 years. This is likely due to a large diff change value which causes your predicted profitability to turn negative in the future. You could try lowering the diff change for a less agressive prediction or disable it altogether.
Close Recurring Costs Help What is this? Recurring costs are fixed costs such as rent or internet. This value, along with power costs are subtracted from your revenue to give profit. Higher recurring costs mean lower profits and a longer break-even time. Close Profitability Chart Help What is this? The profitability chart can help you visualize your long term mining projections. 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.
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. This view assumes the price of the coin will stay the same.
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. If BTC is no longer minted, mining won't be profitable anymore, right? Bitcoin transaction fees are issued to miners as an incentive to continue validating the network.
By the time 21 million BTC has been minted, transaction volume on the network will have increased significantly and miners' profitability will remain roughly the same. Of course, block rewards have a direct impact on your mining profitability, as does the value of BTC — since the value of BTC is volatile, block rewards will vary. Additionally, successfully confirming a block is the only way you will generate any revenue whatsoever by mining.
Hashrate On a simple level, hashrate is the way we measure how much computing power everyone around the world is contributing toward mining Bitcoin. Miners use their computer processing power to secure the network, record all of the Bitcoin transactions and get rewarded in bitcoin for their efforts. The higher the hashrate of one individual Bitcoin mining machine, the more bitcoin that machine will mine. The higher the hashrate of the entire Bitcoin network, the more machines there are in total and the more difficult it is to mine Bitcoin.
At the end of the day, mining is a competitive market. Another way of looking at it, is that hashrate is a measure of how healthy the Bitcoin network is. Bitcoin is like a many headed hydra, at this point in time it is more or less unstoppable. OK, but what does hashing actually mean?
Underneath the hood, Bitcoin mining is a bit like playing the lottery. Typically we call this finding the next block. Like many things connected to Bitcoin this is an analogy to help things be a little bit easier to understand. The deeper you go into the Bitcoin topic, the more you realize there is to learn. Whichever machine guesses the target number first earns the mining reward , which is currently 6. They also earn the transaction fees that people spent sending bitcoin to each other. Just like winning the lottery, the chances of picking the right hash is extremely low.
However, modern bitcoin mining machines have a big advantage over a person playing the lottery. The machines can make an awful lot of guesses. Trillions per second. Each guess is a hash, and the amount of guesses the machine can make is its hashrate. Is hashrate just a Bitcoin thing? Other cryptocurrencies, like Litecoin, that use mining to support and secure their networks can be measured in hashrate. However, different coins have different mining algorithms which means that the chance of a mining machine guessing the target, writing the block onto the blockchain and getting the reward is different from one cryptocurrency to the next.
This chart compares the hash rates on Bitcoin and two of its forks, Bitcoin Cash and Bitcoin SV We can still compare the amount of hashrate between two different cryptocurrencies, and the Bitcoin network has a lot more computing power than all the other currencies put together.
So when we talk about the hashrate of the Bitcoin network, or a single Bitcoin mining machine, then we are really talking about how many times the SHA algorithm can be performed. The most common way to define that is how many hashes per second.
Hash Rate Units When Satoshi gave the world Bitcoin back in , it was easy enough to measure hashrate in hashes per second because the computing power on the Bitcoin network was still relatively low. You could mine Bitcoin on your home computer and it was quite possible and likely that you would occasionally earn the then 50 BTC block reward every so often. Today the block reward is only 6.
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