How to Calculate Bitcoin Mining Profits



               How to Calculate Bitcoin Mining Profits



To calculate your Bitcoin mining profits, you will need to find out your
electricity rate. You can find this in your monthly electricity bill. Note
that the future profitability of Bitcoin mining cannot be ascertained
because of the ever-changing nature of the Difficulty modifier and the
BTC price.
Nonetheless, you can still determine your current mining profitability. To
being with, you must select a suitable ASIC mining rig. It is advisable that
you go for the AntMiner S7 from Bitmain. Compute its specs and cost,
including other information such as power cost and pool fees.
You can also use websites like CoinWarz.com which provides a good
platform for calculating mining profitability. This site automatically
enters the current BTC price, Difficulty and block reward information
when performing mining profitability calculations.
Remember to include your default power cost, which can be confirmed
from your utility bill, add the Pool fee as well and compare the Pool fees
with the reward structure. After you have filled in all the requisite info,
click Calculate to generate the profitability result.

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