How to calculate your Bitcoin (BTC) mining profits?

To calculate Bitcoin (BTC) mining profits, you generally need to consider the following factors:

1. Hashrate: The number of calculations the mining machine can perform per second, usually measured in TH/s (Terahash per second) or GH/s (Gigahash per second).
2. Power Consumption: The energy consumed by the mining machine, measured in W (watts).
3. Electricity Cost: The cost per kilowatt-hour (kWh) of electricity, measured in USD/kWh.
4. Bitcoin Market Price: The real-time market price of Bitcoin, measured in USD/BTC.
5. Mining Difficulty: A parameter that influences how much Bitcoin a miner can earn, which adjusts based on the total network hashrate.
6. Block Reward: The amount of Bitcoin earned for successfully mining a block (currently 6.25 BTC, but this halves every 4 years).

Profit Calculation Formula:

Daily Profit (USD) = Hashrate (TH/s) × Block Reward (BTC/block) × 24 hours / Mining Difficulty × Bitcoin Price (USD/BTC) - Daily Electricity Cost

Example:

Assume the following:

• Your mining machine has a hashrate of 100 TH/s;
• The current Bitcoin price is $30,000;
• Daily power consumption is 3,000W (or 3 kW);
• The electricity cost is $0.1/kWh;
• Mining difficulty is 20,000,000,000,000 (this is an example value; the actual value changes);
• The block reward is 6.25 BTC.

First, calculate the daily electricity cost:

• Power consumption: 3 kW × 24 hours = 72 kWh;
• Daily electricity cost: 72 kWh × $0.1 = $7.2.

Then, calculate the daily mining profit:

• Mining profit = 100 TH/s × 6.25 BTC × 24 hours / 20,000,000,000,000 × $30,000 ≈ $3.60.

Finally, calculate the net profit:

• Net profit = $3.60 - $7.2 (electricity cost) = -$3.60.

In this example, the miner's daily net loss is $3.60.

Note:

1. Mining difficulty and block rewards periodically change, which can impact profitability.
2. Fluctuations in electricity costs and Bitcoin prices directly affect mining profitability.

You can adjust the parameters based on your actual mining setup and market conditions to calculate your profits.

Make good use of websites to calculate your profits.

Here are several websites that can help you calculate Bitcoin mining profits. These websites typically calculate potential profits based on current market conditions and your mining machine's parameters. Below are some commonly used Bitcoin profitability calculators:

1. WhatToMine
   WhatToMine is a very popular cryptocurrency profitability calculator that can calculate mining profits for various cryptocurrencies, including Bitcoin. You can input your miner's hash rate, power consumption, and electricity cost to calculate potential profits.

2. CryptoCompare
   CryptoCompare Mining Calculator provides a Bitcoin mining calculator that allows you to input your mining machine's hash rate, power consumption, and electricity cost to quickly estimate profits.

3. CoinWarz
   CoinWarz provides profitability calculators for Bitcoin and other cryptocurrencies. It supports various mining machine types and electricity cost settings, helping users evaluate their profits.

4. NiceHash Profitability Calculator
   NiceHash offers a profitability calculator that allows you to input your device's hash rate, power consumption, etc., to estimate potential mining profits. NiceHash also provides a mining pool service, which is ideal for those looking to rent hash power.

5. Minerstat
   Minerstat provides a detailed mining profitability calculator that supports profitability estimates for various cryptocurrencies. It can calculate precise daily profits based on mining machine parameters and electricity costs.

These websites can help you calculate and compare profits under different mining machine configurations and electricity costs, offering valuable reference points for choosing miners and planning mining operations.

At last, wish you enjoy your Mining trip.