Average time per block (solo mining): 60.2 years
Difficulty after 365 days: 8.35360289592e+12.
Projected daily difficulty, net revenue (revenue minus power cost), and cumulative profit.
This calculator estimates profits from bitcoin mining by forecasting costs and future market conditions. If this calculator helped you earn money, or avoid losing money, please consider making a donation!
Bitcoin is a digital, cryptographic, peer-to-peer currency. The money supply is increased automatically by the network by rewarding newly minted bitcoins to users who contribute the computing power necessary to solve the difficult cryptographic problems required to produce the global transaction log. This process is called mining.
Future revenues are calculated assuming difficulty changes occur at regular intevals (e.g., 14 days) and that the difficulty after each such change is a fixed percentage increase over the previous difficulty (e.g., 15%). The exchange rate is held fixed, so the assumption is that all BTC revenues are held and exchanged for USD at the end of the time horizon. Hence, if you expect the exchange rate to rise or fall, enter the value you expect at the end of the time horizon.
The starting difficulty is taken to be the current difficulty. The USD exchange rate is taken to be the daily volume-weighted average exchange rate reported by Bitstamp. The default difficulty growth rate is taken to be the growth rate between the current difficult and the estimated next difficulty reported by alloscomp.com. These values are updated every fifteen minutes. The remaining default values are fixed. The cost of electricity is taken to be $0.15 per kWh. The hashrate, cost, and power consumption of the hardware are taken to be those of a Butterfly Labs Imperial Monarch (1 Th/s, $2,939.00, 650 W).
Exchange rate are obtained from Bitstamp. Statistics about the bitcoin network (difficulty, block count, etc.) are obtained from blockexplorer.com. To determine appropriate values for the remaining parameters, additional data are available from external sources on US electricity rates, EU electricity rates, historical difficulty levels, and mining hardware hash rates and power consumption.
All calculations assume that mining begins immediately. The current block number is taken to be length of the current longest blockchain as given (updated every fifteen minutes). Calculations begin at the given difficulty. The number of days until the first difficulty adjustment is taken to be the ETA estimate provided by blockexplorer.com. Subsequent increases are assumed to occur regularly according to the specified interval. Since difficulty changes occur every 2016 blocks, the interval in days you choose for difficulty adjustments implies a rate at which new blocks are solved. The reward for solving blocks (e.g., 25 BTC) is adjusted over the time horizon according to the Bitcoin protocol.
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The exchange rates and revenue and profit projections produced on this site are for educational purposes only. They are not guaranteed to be accurate, and are subject to change without notice.