Mining Set Upīack in 2009, when Bitcoin was inducted, you could have mined with your personal computer without anyone sniffing about it.Īt present, depending upon the coin, you could need specialized hardware and significant real estate to get started. For instance, you get 6.25 BTC for mining each block, which amounts to nothing if Bitcoin’s value somehow plummets to the ground. As mining gives you more of the coin you mine, its value holds utmost importance to you. Crypto ValueĪnother important factor affecting mining sustainability is the crypto itself. The low industrial electricity cost (along with favorable climate) is the reason Genesis Mining is set up in Iceland. You can check out the electricity prices of most countries with this tool.

This will be based on your location and relates to the power consumption. And remember to consider all the equipment if you’re using a setup of multiple miners. This is generally listed on the manufacturer’s website. Measured in watts(W), it’s the energy spent by the miner per second. Higher hash rates are represented in kilo hashes per second (kH/S), Mega hashes per second (MH/S), etc. It’s the processing power of your miner, measured in H/S, i.e., hashes per second.

So, we’ll go along with the mighty Bitcoin and the Litecoin (which is easy to mine) and see how the factors affect the mining profitability of these two. Hardware, software, and all the calculations are done specifically for a single coin. Most importantly, everything depends on the coin. So it’s extremely vital to know it inside out, especially if you’re trying to mine something like Bitcoin, a coin with significant mining difficulty. In the same fashion, some people do it wrong and end up with their aged miner equipment and a not-so-pocket-friendly electricity bill.

Eth hash calculator