Profitability of ASIC mining
In calculating your potential profit, keep in mind the following factors:
- The cost of your ASICs
- Electricity costs to run the hardware
- Cooling costs—ASICs generate a decent amount of heat
- Your percentage of the total network hashing power
To calculate the expected rewards from mining, we can do the following. First, calculate what percentage of total hashing power you command. To look up the network mining speed, execute the getmininginfo command in the console of the Bitcoin Core wallet. We will do our calculations with an ASIC that can hash at 1 TH/s.
If the Bitcoin network hashes at 400000 TH/s, then our proportion of the hashing power is as follows:
1 / 400 000 = 0.0000025 of the total mining power.
On average, a Bitcoin ...
Get Bitcoin Essentials now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
