Bitcoin Mining Profit Calculator

About

This calculator estimates profits from bitcoin mining by forecasting
costs and future market conditions.

Bitcoin

Bitcoin is a digital, cryptographic,
peer-to-peer currency.
The money supply is increased automatically by the network by
rewarding newly minted bitcoins to users who contribute the computing
power necessary to solve the difficult cryptographic problems required
to produce the global transaction log.
This process is called mining.

Methodology

Future revenues are calculated assuming difficulty changes occur
at regular intevals (e.g., 14 days) and that the difficulty after
each such change is a fixed percentage increase over the previous
difficulty (e.g., 5%).
The exchange rate is held fixed, so the assumption is that all
BTC revenues are held and exchanged for USD at the end of the
time horizon.
Hence, if you expect the exchange rate to rise or fall, enter the
value you expect at the end of the time horizon.

Defaults

The starting difficulty is taken to be the current difficulty.
The USD exchange rate is taken to be the daily volume-weighted average exchange rate reported by Bitstamp.
These values are updated periodically throughout the day.
The remaining default values are fixed.
The default difficulty growth rate is taken to be 5%, which was approximately the average two-week difficulty increase between February 2016 and August 2017.
The cost of electricity is taken to be $0.15 per kWh.
The hashrate, cost, and power consumption of the hardware are taken to
be those of an AntMiner S9 ASIC miner (13.5 Th/s, $1,987.95, 1,300 W).

More Details

All calculations assume that mining begins immediately.
The current block number is taken to be length of the current longest
blockchain as given (updated every fifteen minutes).
Calculations begin at the given difficulty.
The number of days until the first difficulty adjustment is taken to
be the ETA estimate provided by
blockexplorer.com.
Subsequent increases are assumed to occur regularly according to the
specified interval.
Since difficulty changes occur every 2016 blocks, the interval in days
you choose for difficulty adjustments implies a rate at which new
blocks are solved.
The reward for solving blocks (e.g., 25 BTC) is adjusted over the time
horizon according to the Bitcoin protocol.
Estimated transaction fees are not yet included.

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Disclaimer

The exchange rates and revenue and profit projections produced on this
site are for educational purposes only.
They are not guaranteed to be accurate, and are subject to change
without notice.