Bitcoin mining profitability calculator
Nothing guaranteed, of course this is only a rough estimate! You can also calculate rented mining by setting “Power consumption” to 0 and “Cost of mining hardware” to the rent per time frame. Default values are for a 50 GH/s Bitcoin Miner .
Estimate Strategy
Extrapolating bitcoin difficulty or price is pure voodoo. It is much easier to predict the relationship of the two parameters in form of the Mining Factor. The Mining Factor 100 is the value in USD of the bitcoins you can generate if you let a 100MHash/s miner run for 24 hours. If the Mining Factor 100 rises above $2 or so everybody buys mining equipment and thus increases difficulty. If it falls people will stop mining eventually. The estimate starts with the current Mining Factor and decreases it exponentially such that the decrease accounts for the factor decline per year. Please note that a profit/loss by holding the coins is not accounted for in this estimate.
Things to consider that might eat into your profit:
The values above are only a snapshot. The network and markets are moving quickly. Check out these diagrams to get a feeling for it.Looks like if your mining operation is not profitable now, it probably will not be in the future.
With rising bitcoin exchange rates it might be more profitable to buy bitcoins than to mine. There are spreadsheets available in this thread or this one (with some FPGA data) for a more custom calculation.Bitcoin exchanges: MtGox. Tradehill. CryptoXchange .
The calculation is based on average block generation time. The closer the average generation time is to the time frame the more the resulting revenue depends on luck.
You will have to pay mining pool fees from close to nothing up to 3% depending on the pool. Unless you want to do pool hopping you should go to a pool with hopping protection. I recommend Arsbitcoin and EclipseMC (with namecoin merged mining). P2Pool is a new completely decentralized alternative.
You will get somewhere from 1% to 3% of “stale shares”. Thread .
When the block count will hit
200000 some time around December 2012 the generation reward will go down to 25BTC. This might partly be compensated by falling difficulty, raising prices, higher transfer fees, etc.
A mining computer generates a lot of heat as a byproduct. This can impact your heating/airconditioning costs depending on outside temperatures. Other byproducts could be noise and an angry wife.
Do you have lots of experience with and like working with computers during lonesome nights? You have to spend quite some time to set up the system (easily several days!) and watch it.
You will not get a 100% uptime.
You will probably not be able to reach the highest values in the Mining Hardware Comparison. Some bragging / measuring error and extensive overclocking of the cards is involved here.
Scaling effects: three cards in one rig do worse than a single card because it gets harder to get out the heat. Results in the list above do not reflect the number of cards.
A disruptive technology like ASIC chips could show up and make GPU mining less profitable.
Politics and legal issues might affect the bitcoin market.
Possible additional benefits:
For suggestions, infos or links on the topic to add, please contact me directly (info [at] bitcoinx.com) or in this thread on the bitcoin forum.
TP's Bitcoin Calculator FAQ
Your ultimate Bitcoin calculator. Never again will you have to look at other mining calculators, profitability calculators, power calculators or generation calculators. See how much your Bitcoin mining rig can earn you today!
What is "Bitcoin"?
Bitcoin is a new form of digital currency unlike any that was ever created. It is to PayPal like gold is to a traditional currency. It relies on mathematics of cryptography and the combined calculating power of many computers to secure your savings against anyone wanting to take it away.
For more on Bitcoins, check out WeUseCoins .
What is "mining"?
Mining is a process of generating new Bitcoins by solving a mathematical problem. By mining you let your computer generate pseudo-random numbers according to certain rules, and if your random number is small enough, you solve a Block, and get to keep a reward associated with it.
How do I start mining?
Best way to get your feet wet with mining, is to do the following:
-Join a mining pool, like Slush's Pool .
What do I do then?
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After you let your computer crunch the numbers for awhile, you should look into either transferring them to your Wallet, or selling them for real money.
-In order to get your own Wallet, download the Bitcoin Client from here - Bitcoin.org .
How much money can I earn?
Well, this is what this whole website is for! In just a few easy steps you can see how much money you can earn:
-Find out what hardware you have, note the Mhash/s value.
-Input that value in our calculator as Hash Rate .
-Click Calculate And there you have it, all the data you need to get started!
How do I earn more?
The answer to that question is both easy and hard - if you want to mine more Bitcoins, you need to get more hardware. which can be a bit daunting at times. But hey, you can make a pretty decent living by making your computers work for you this way!:)
What is a Bitcoin Mining Calculator anyway?
A mining calculator (also known as a generation calculator ) is a simple piece of software that can calculate how much Bitcoins your computer can mine. Based on your Hash Rate and the current Difficulty it can approximate how much Bitcoins you can expect to see being generated.
What is a Bitcoin Power Calculator?
A power calculator (or power calc for short) calculates how much it costs for your computer to generate Bitcoins, based on the price of electricity and the power consumption of your computer.
What is a Bitcoin Profitability Calculator?
A profitability calculator calculates how much actual money your computer can generate (taking a current exchange rate from a Bitcoin exchange).
How does this website fit in all this?
This website is one of the few websites that offers a complex solution to all of the above calculating problems in a neat, readable little package. It is a mining power and profitability calculator all in one. By entering just a few basic pieces of information you can learn all you want to know (and some things you didn't know you wanted to know) from a simple table. You can estimate how much money you can earn with a new mining rig, when your investment will be returned and many more, without having to go back and forth between multiple websites!
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