Bitcoin Mining Calculator

What do you need to mine BTC?

One of the most important things to consider is electricity. You will need a lot, a lot! The more barta you are able to get it, the better your benefit will be.

An internet connection

At least one Bitcoin mining hardware device: an ASIC miner or a RIG.

In the past, a cool place was needed since graphics cards (GPU) generate a lot of heat and at high temperatures it is very likely that the equipment would stop working or break down directly. Today the equipment has evolved a lot and in addition to the fact that the RIGs with their GPUs have ceased to be profitable, the new BTC mining ASICs incorporate fans and are optimized to maintain the proper temperature. Although we warn you that if what you are going to set up is a farm with several machines in the same room, you will have this same problem.

Delving into the electricity needed to mine

Most ASIC miners require 220 volts or more and at least 20 amps. You will need to consult the specifications of your mining equipment to see the power requirements and also the conditions of your contract with the electric company. Otherwise, you can generate a power surge.

Here’s an example for you to understand better: If you have a 200 amp electrical service with 220 volts, then the total power capacity is 200 amps * 220 volts = 44,000 watts. But as we’ve said before you never want to use more than 75% of that capacity, otherwise you’ll trip the switches. So 44,000 watts becomes 33,000 watts of usable power capacity.

Now that you know how much power capacity you have (the more you have the better), you can determine how many miners you can run. In this example, that would be 11 Bitmain Antminer S17+ at 2,920 watts per device.

Once you have the Bitcoin mining hardware in hand, the last step is to set up each miner’s software.

Don’t worry, things have evolved a lot, and in most cases the configuration consists of establishing the mining pool, the username and the password.

Bitcoin mining pools

Given the high hashrate, it is statistically impossible to generate enough hashes to solve a block mining by itself, although every year there is a surprise, the last one just a few days ago in which a miner only manages to solve one block. 6.25BTC to pocket.

Therefore, to increase the chances of solving a block, you can join a group of other miners who work together. Once a block is solved, the reward is divided proportionally among the group participants. In turn, the mining pool usually charges a small fee, typically between 1% and 4%.

Here is a list of popular Bitcoin mining pools.

Slush Pool
F2Pool
AntPool
ViaBTC
BTC.com
Poolin
Genesis Mining
Bitfury
KanoPool
PEGA Pool

Is Bitcoin mining profitable today?

Mining profitability can change very quickly. The rise in electricity prices due to the war in Ukraine, the drop in the price of BTC and the growth in the difficulty of calculation currently cause few miners to achieve stable profitability. But it is not necessary to take mining as a mere form of investment. We, who are firm believers in this technology, go a little further and try to give consistency to the network at the security level and contribute our bit to the community.

That being said, we recommend that you check the profitability of your mining with some frequency so that you do not get an unpleasant surprise.

We will explain it with another example: A BTC mining difficulty of 52,391,178,981,379.00, a BTC mining hashrate of 140.00 TH/s that consumes 3,010 watts of power at $0.05 per kWh and a block reward of 6.25 BTC to $26,106.83 (BTC to USD).

Based on the provided mining hardware inputs, 0.00033597 Bitcoin can be mined per day with a Bitcoin mining hashrate of 140.00 TH/s, a block reward of 6.25 BTC, and a difficulty of 52,391. 178,981,379.00.

So this example, after deducting mining power costs and mining fees, the final daily profit from Bitcoin mining is $5.16 Bitcoin per dollar.