In recent years, cryptocurrencies have proved to be the most promising and secure means of investment in the world. Nowadays, people use special equipment to obtain cryptocurrencies.
The mining can be can be carried out in the following three ways:
- GPU farms made of graphics cards which you can assemble at home from store-bought components;
- ASIC equipment that was developed solely for mining purposes and configured for a certain algorithm;
- Cloud mining services that rent out hashing power of their data centers and allow you to mine a chosen cryptocurrency (the most beneficial format as of 2018).
Before choosing and buying the equipment, it is necessary to calculate the payback period and the future profits, as well as the cost of electricity (which constitute a big part of expenditures). In order to do that, you can use special calculators for the automatic estimation of profitability of mining equipment along with its electricity consumption rate.
- Online calculator of the mining pay-back period with regard to the type of equipment
- Mining profitability calculator for different cryptocurrencies
Online calculator of the mining pay-back period with regard to the type of equipment
First of all, we will define all key terms which are used for calculations of mining profitability and the payback period for the equipment.
You can start calculating profits only after you get the return on the investment that you made into mining equipment.
- The payback period is the operational period necessary for the obtainment of profits which will be sufficient to cover the expenses on mining equipment, electricity cost for the given period of time, as well as the price of rent, in case you conduct mining operations at a rented space (relevant for big farms or garage complexes).
- Hashrate. It is the computation capacity of mining equipment. It shows how many hashes the given graphics card or miner can calculate per second. The higher the hashrate, the larger amount of coins you will receive.
- Mining difficulty. The specific value which is determined by the network. It tends to increase over time and online calculators factor these changes into their calculations.
- Miner is a piece of equipment that is capable of mining cryptocurrencies. By default, any computing device, whether it is a graphics card, ASIC miner or CPU, can serve as a miner.
- Mining farm is an equipment complex that is assembled within one venue and engaged in mining cryptocurrencies.
- Electricity consumption. It is the amount of electricity consumed by your equipment in the process of mining. When calculating the future profits, make sure to specify the current electricity cost in your region since it can significantly differ from the cost that is set by default.
Mining profitability calculator for farms made of GPU graphics cards
The GPU (graphics card mining) can be done using a wide variety of algorithms. You can mine ten-fold more coins which are based on the same algorithms.
DaggerHashimoto (Ethereum, Ethereum Classic, Expanse, Musicoin, Ubiq coins) and Equihash (Zcash, Zclassic, Zencash, Komodo, Hush coins) are the most popular of them.
Fortunately, there are aggregate calculators that can calculate the profitability of these coins. They include all major cryptocurrencies: you just have to specify the model of your GPU and the service will carry out an instant online calculation of its profitability for all coins at once. After that, you can choose the most profitable coin at the given period of time.
WhatToMine is the most precise and trusted online mining calculator:
All you have to do is specify the model of your graphics card and the system will calculate its computation capacity for all know algorithms.
NiceHash is the second most reliable service with regard to the accuracy of calculation results:
The thing that distinguishes NiceHash from similar services is that it gives the forecast regarding the approximate ROI (return on investment) period for graphics cards in days, apart from the calculation of current profitability. This forecast is based on the average market cost of equipment and the current hashrate multiplied by the exchange rate of the given cryptocurrency.
Mining profitability calculator for ASICs
This ASIC calculator allows not only to calculate the exact current profitability but also to forecast the level of income for a year and a half in advance, taking into account the increasing complexity of the network. The interface features all available ASICs along with their technical parameters. All you have to do is choose the desired model and specify the cost of electricity in your region.
In order to use the calculator, choose the ASIC miner you are interested in from the list and enter the known hashrate and electricity consumption in the corresponding field. After that, click the Calculate button. The calculator will show full information regarding miner’s electricity consumption as well as current profitability estimates with automatic conversion to USD, UAH, RUB, and EUR.
Apart from general data, this calculation tool will provide you with descriptive tables, which contain all information about profits for the past day, week, and month in different currencies, as well as power consumption for the same period of time.
Therefore, the cryptocurrency calculator can greatly simplify the process of equipment selection by turning the long and tedious calculation process into a quick and simple operation.
Mining profitability calculator for CPU
You can calculate the profitability of CPU mining using the service called NiceHash (reviewed earlier). However, you should take into account that the profitability of CPU mining in 2018 is going to be extremely low. This mining option would be viable only in combination with GPU farm, given that the processor would be used only as an additional source of income, because, given the current level of mining difficulty, the processor mining could never pay off.
This situation has developed because almost all algorithms that employ processors for the mining purposes could also be used with graphics cards, the efficiency of which is incomparable to processors. We do not recommend buying processors specifically for mining purposes because, in the current situation, they can only be used as auxiliary equipment.
Mining profitability calculator for different cryptocurrencies
The profitability of cryptocurrencies can vary greatly even if they are mined using the same algorithm. It happens due to the constant fluctuations in exchange rates and rapid spikes of network difficulty of the specific blockchain.
We will review only the most precise and user-friendly calculators for the most popular coins and algorithms.
Simple profitability calculator for Bitcoin mining
The Bitcoin calculator allows you to calculate the profitability of mining, taking into account the investments in the mining farm, the electricity cost, and other indicators. After reviewing the results of calculations, study different reviews and feedback about the equipment for Bitcoin mining in order to understand which miner suits you best.
Currently, Antminer S9 – 14.000.000 MH/s, 10182 MH/s, and 5833 MH/s is the most advanced device for mining bitcoins. Please note that the long-term profitability forecast made by the mining calculators can be rather inaccurate due to several factors: unexpected changes in exchange rates, network complexity, and the number of other parameters.
Advanced profitability calculator for Bitcoin mining
It is a more complicated calculator for the profitability of Bitcoin mining which has a lot of specific configurations and allows users to set any individual parameters. We recommend this tool only for advanced users who understand the meaning of all given parameters and can correctly interpret the results of calculations.
Due to the fact that it is hard to make long-term predictions because of changes of the Bitcoin network difficulty and BTC exchange rate, the calculator has the option that allows indicating the expected changes in these parameters. You can specify the expected monthly changes in network difficulty for the entire period of time, as well as for each separate month.
The Bitcoin Profitability column in the table that depicts the expected earnings from mining shows the number of bitcoins you will earn for a particular month. The total amount of all coins earned over the entire period of time is specified at the end of the given column.
The RUB minus expenses column shows the earnings in fiat currency minus the cost of the farm, the electricity costs, and the equipment amortization. For instance, the total mining profitability in Bitcoin could be positive while the same profitability indicators in Rubles could be negative. It could happen when the profit in Rubles for the given period of time does not exceed the cost of mining using the farm and the electricity cost. It also shows changes of income balance for every given month in the selected currency. The balance for the last month of the selected period will be equivalent to the total income for the given period.
The ROI column shows your return on investment. This indicator will show 100% when the profits become equal to the cost of the farm, combined with other mining-related expenses (electricity, amortization, pool commission) or, simply speaking, when the farm pays off. If the mining profitability exceeds the total expenses, the ROI will be higher than 100% and lower if the expenses are higher.
Profitability calculator for Ethereum mining
A simple and minimalistic calculator for calculating earnings from Ethereum mining. It allows you to evaluate the profitability by entering only one indicator which is your hashrate. The most convenient and practical calculator we have ever used.
Hashrate and block time are calculated on the basis of data from the last 64 blocks. The price is based on the info from coinmarketcap.com. The information is refreshed every 10 minutes.
Profitability calculator for Zcash mining
You can calculate the profitability of Zcash mining using the above-mentioned calculators. However, if you want to see only the information about Zcash without the admixture of other coins, this particular calculator will be the most convenient of all.
Profitability calculator for Dash mining
CryptoCompare contains the separate module that allows seeing the current profitability of Dash. All you have to do is to enter your hashrate and the electricity cost.
These were the most accurate calculators verified by many users. It should be noted that the results of calculations may differ depending on the individual characteristics of your equipment, such as:
- Manufacturer of memory for GPU;
- Acceleration of your graphics card;