Calculate mining earnings by entering hashrate or selecting specific mining devices for various cryptocurrencies.
Your mining hardware's hashrate (units vary by algorithm)
Cryptocurrency mining algorithm
Total power usage in watts
Cost per kilowatt-hour
Mining is the process of using computer hardware to solve complex mathematical problems that verify cryptocurrency transactions. In return, miners receive newly created coins and transaction fees as rewards.
Hashrate measures your mining hardware's computational power. Higher hashrate = more chances to solve blocks = more potential earnings. Measured in TH/s (terahashes) for Bitcoin or MH/s (megahashes) for other coins.
Different cryptocurrencies use different algorithms: SHA-256 (Bitcoin), RandomX (Monero), KAWPOW (Ravencoin), Scrypt (Litecoin), etc. Each requires specific hardware optimized for that algorithm.
ASICs (specialized chips) for Bitcoin, GPUs (graphics cards) for many altcoins. ASICs are powerful but coin-specific. GPUs are versatile but less powerful for any single coin.
Mining consumes significant power. Your electricity rate ($/kWh) is crucial to profitability. Lower rates = higher profits. Many miners seek locations with cheap, renewable energy.
Solo mining rarely pays off for individuals. Pools combine miners' hashrates to find blocks more consistently, sharing rewards proportionally. More stable income vs. solo mining's lottery-like payouts.
Input your mining hardware's hashrate in TH/s (SHA-256, kHeavyHash), MH/s (most algorithms), or H/s (RandomX). Check your miner's specifications or pool dashboard for this number.
Choose the mining algorithm your hardware uses. This determines which cryptocurrency you're mining and affects revenue calculations based on current network conditions.
Enter total power usage in watts (W). Include all equipment: miners, fans, cooling systems. Check your power supply or use a watt meter for accuracy.
Input your electricity cost per kilowatt-hour ($/kWh). Find this on your power bill. Industrial/commercial rates are often lower than residential rates.
Antminer S19 Pro mining Bitcoin with $0.10/kWh electricity:
Share = Your Hashrate ÷ Network Hashrate
Your proportion of the total network mining power
Revenue = Share × Blocks/Day × Reward × Price
Your estimated daily mining earnings in USD
Cost = (Watts ÷ 1000) × 24 × $/kWh
Example: (3250÷1000)×24×$0.10 = $7.80/day
Profit = Daily Revenue - Power Cost
Net earnings after electricity expenses
These calculations use current network difficulty, block rewards, and coin prices. Actual results vary based on pool fees (typically 1-3%), network difficulty changes, price volatility, and hardware efficiency. Always factor in hardware costs and maintenance.
The #1 factor. $0.05/kWh vs $0.15/kWh can be difference between profit and loss. Seek commercial/industrial rates or renewable energy sources.
Newer miners produce more hashrate per watt (J/TH metric). An efficient miner can be profitable where an old one loses money at the same electricity rate.
Proper cooling prevents throttling and extends hardware life. 99% uptime vs 80% significantly impacts earnings. Factor in maintenance and downtime costs.
Mining profitability directly tracks coin prices. A 50% price drop = 50% revenue drop. Many miners hold coins hoping prices rise, but this adds risk.
As more miners join, difficulty increases, reducing everyone's rewards. Bitcoin adjusts every ~2 weeks. Rising difficulty = lower profits at same hashrate.
Bitcoin halves rewards every ~4 years (6.25 → 3.125 BTC). Ethereum Classic reduced rewards multiple times. Plan for these predictable revenue cuts.
Pools provide steady, predictable income by sharing rewards. Solo mining is lottery-like - huge rewards but extremely rare. Pools are recommended unless you have massive hashrate.
GPUs can switch between coins. Auto-switching pools mine the most profitable coin automatically. Can boost profits 10-30% vs. mining one coin consistently.
Sell immediately to cover costs with no price risk, or hold coins hoping for appreciation. Many miners do hybrid: sell 50-70% for expenses, hold rest for potential gains.
Calculate break-even before buying. At $15/day profit, a $5,400 miner needs 360 days to ROI. Difficulty increases and price drops extend this. Target 12-18 month payback maximum.
Mining generates massive heat. In winter, it can offset heating costs. In summer, cooling costs surge. Some miners pause during peak summer or mine only at night.
Mining income is typically taxable when received. Track daily values, deduct electricity and equipment depreciation. Use crypto tax software or consult a tax professional.
Mining "for free" at home/work is stealing and illegal. Even small electricity cost differences matter. $0.15/kWh often means losses where $0.08/kWh is profitable.
Don't assume today's profitability continues forever. Difficulty rises, prices drop, hardware fails. Build in 30-50% margins - if barely profitable today, you'll likely lose money in 3-6 months.
Heat kills hardware and reduces efficiency. Miners need serious airflow - garage/spare room setups often fail. Hot hardware = lower hashrate, higher power usage, shorter lifespan.
Cheap used miners are often obsolete. An S9 for $200 seems good until electricity costs more than it earns. Focus on efficiency (J/TH) not just upfront price.
Home circuits can't handle multiple miners. Overloading circuits causes fires. Consult electrician, install proper circuits/breakers. Budget $500-2000 for electrical upgrades.
Most pools charge 1-3% fees. A 2% fee on $50/day is $1/day or $365/year. Compare pool fees, payout thresholds, and reliability before choosing.
ASICs are LOUD (70-80 dB, like a vacuum). Can't run in living spaces. Need isolated room/garage or sound dampening. Neighbors may complain.
Know when to quit. Set a "shutdown price" - if profitability drops below $X/day for Y weeks, pause operations. Mining at a loss hoping for recovery usually just increases losses.
Mining requires significant upfront investment and ongoing costs. Calculate carefully before purchasing hardware. Consider starting small or cloud mining to test the waters before committing thousands to equipment.
ASICs for Bitcoin/Litecoin (expensive, powerful, coin-specific). GPUs for altcoins (versatile, lower hashrate). Prioritize efficiency (J/TH or J/MH) over raw hashrate.
Dedicated space with ventilation, adequate power circuits, stable internet. Budget for electrician, cooling, and monitoring equipment. Consider noise impact.
Secure wallet for receiving payouts. Monitoring tools for hashrate, temps, profits. Set alerts for offline miners or temperature issues. Track expenses for taxes.
Clean dust monthly, monitor temperatures, update firmware, track profitability. Be ready to shut down if unprofitable. Budget for repairs and eventual hardware replacement.