cost of the hardware. Venezuelas crisis and the cheap electricity resulting from it have made Bitcoin mining extremely profitable there. Some bragging / measuring error and extensive overclocking of the cards is involved here. 1.6 Block Reward Unlike Bitcoins price, the Bitcoin block reward is predictable: Every four years, the amount of bitcoins awarded for each block, is cut in half. The closer the average generation time is to the time frame the more the resulting revenue depends on luck. Pool Fees, hardware Cost (USD power (Watts power Cost (USD/kWh). Things to consider that might eat into your profit: The values above are only a snapshot. One email a day for 7 days, short and educational, guaranteed. Electric costs for cooling are yet another factor to consider, as miners generate significant heat during the mining process.
This post will outline the many factors that will determine whether or not your mining operation will be profitable. Revenue is based on current difficulty to mine Bitcoins. As can be expected, more hash power on the network means that the current miners control a lower percentage of the Bitcoin networks hash power. This might partly be compensated by falling difficulty, raising prices, higher transfer fees, etc. The lower this number, the more efficient the miner. In 2020, this reward will fall to just.25 bitcoins per block, and so forth. Heres what will we cover in this post: How to Calculate Bitcoin Mining Profitability.