I'm looking over Cex.io's pricing structure, even if you get the GH/s free, you still end up making LESS than what they charge in maintenance fees.
I just unplugged all of my remaining mining rigs because it's no longer profitable. I'm just glad that I'm getting out now instead of dumping more fiat on more mining hardware that won't make a profit. I'm taking some huge losses, but I'm not about to throw away good money after bad.
Topic: Calculating Dollar Per GH/s ... (Read 3323 times)
yea I know. But there must be someone reliable an honest. And by coincidence it is this guy. Just follow the thread, it is 65 pages long.
https://bitcointalk.org/index.php?topic=514758.1240;topicseen
If you choose to host yourself you also pay for the delivery and tax duty. And PSU in most cases. And you wait a couple of days. The benefit of that is that you can sell your hardware and make some profit on the top of it if you are lucky.
This analisys is obviously leading us to kryptologika. We are offering shares in hosted miners, reasonable maintenance fees and physical silver. At the moment there is no match to our product
https://bitcointalk.org/index.php?topic=514758.1240;topicseen
If you choose to host yourself you also pay for the delivery and tax duty. And PSU in most cases. And you wait a couple of days. The benefit of that is that you can sell your hardware and make some profit on the top of it if you are lucky.
This analisys is obviously leading us to kryptologika. We are offering shares in hosted miners, reasonable maintenance fees and physical silver. At the moment there is no match to our product
Why not buy and host there? Cheaper and faster. No tax duty.
Host there? You mean bitmaintech host it for you?
well... not bitmaintech actually
check easy2mine
https://bitcointalksearch.org/topic/wwweasy2minecom-340-the-group-buy-of-antminer-s5psu-included-514758
This guy is very reliable.
Still prefer to host it ourself after so many scammer going on in bitcoin world... just feel risky..
Why not buy and host there? Cheaper and faster. No tax duty.
Host there? You mean bitmaintech host it for you?
well... not bitmaintech actually
check easy2mine
https://bitcointalksearch.org/topic/wwweasy2minecom-340-the-group-buy-of-antminer-s5psu-included-514758
This guy is very reliable.
Hello,
This is a dumb question for sure, but I can't find it anywhere.
How do I calculate the "dollar per GH/s" for a system?
I assumed I just divide the cost of the system by the hash rate but that doesn't seem right.
Thank you for your time.
This is a dumb question for sure, but I can't find it anywhere.
How do I calculate the "dollar per GH/s" for a system?
I assumed I just divide the cost of the system by the hash rate but that doesn't seem right.
Thank you for your time.
No, you cant calculate, you can just estimate, cause its hard to predict the difficulty rise every 10 days and the bitcoin price over the next 6 months.
Your hardware cost X dollars and gets Y hash rate. Therefore, it gets X/Y dollar to GH/s. Example: You pay $1000 for 600GH/s, it's $1.67 per GH/s.
Hello,
This is a dumb question for sure, but I can't find it anywhere.
How do I calculate the "dollar per GH/s" for a system?
I assumed I just divide the cost of the system by the hash rate but that doesn't seem right.
Thank you for your time.
This is a dumb question for sure, but I can't find it anywhere.
How do I calculate the "dollar per GH/s" for a system?
I assumed I just divide the cost of the system by the hash rate but that doesn't seem right.
Thank you for your time.
No, you cant calculate, you can just estimate, cause its hard to predict the difficulty rise every 10 days and the bitcoin price over the next 6 months.
Antminer S3, it seems cheapest mining hardware in the world. BUT it is not.
Assuming you will mine with this device for one year. Because after a year, hardware mines nothing because of diff rise.
Lets calculate the how much it costs..
0.68 BTC for 441 GHS.
340 watt for 441 GHS = (0.34kwh/441ghs)*0.15$/kwh*24*365/(550$/BTC) = 0.00183 btc/ghs in one year energy cost with 0.15 $ / kwh
0.68/441 = 0.00154 btc/ghs comes from order
0.00183 btc/ghs comes energy cost
PSU : lets say, 75$ ----> 75$/441/550$/BTC = 0.00020 btc/ghs
TOTAL COST IN ONE YEAR
0.00154 + 0.00183 + 0.00031 = 0.00368 BTC/ghs = 2.02 $ / ghs @ 550$/btc
Some advise for you, just try cloud mining services with has no fee policy. Just like http://pbmining.com with prices 0.0029 btc/ghs for five years and with no maintance fees, no pool fees, no any other recurring costs,hardware mining is useless at the moment.
Assuming you will mine with this device for one year. Because after a year, hardware mines nothing because of diff rise.
Lets calculate the how much it costs..
0.68 BTC for 441 GHS.
340 watt for 441 GHS = (0.34kwh/441ghs)*0.15$/kwh*24*365/(550$/BTC) = 0.00183 btc/ghs in one year energy cost with 0.15 $ / kwh
0.68/441 = 0.00154 btc/ghs comes from order
0.00183 btc/ghs comes energy cost
PSU : lets say, 75$ ----> 75$/441/550$/BTC = 0.00020 btc/ghs
TOTAL COST IN ONE YEAR
0.00154 + 0.00183 + 0.00031 = 0.00368 BTC/ghs = 2.02 $ / ghs @ 550$/btc
Some advise for you, just try cloud mining services with has no fee policy. Just like http://pbmining.com with prices 0.0029 btc/ghs for five years and with no maintance fees, no pool fees, no any other recurring costs,hardware mining is useless at the moment.
What you forgot in your calculations was that when pbmining gives you a 404 error in 3 months you're 5 year contract is now worthless, the S3 will still be mining and under warranty. Cloud mining leads to centralization - no point in supporting it.
Antminer S3, it seems cheapest mining hardware in the world. BUT it is not.
Assuming you will mine with this device for one year. Because after a year, hardware mines nothing because of diff rise.
Lets calculate the how much it costs..
0.68 BTC for 441 GHS.
340 watt for 441 GHS = (0.34kwh/441ghs)*0.15$/kwh*24*365/(550$/BTC) = 0.00183 btc/ghs in one year energy cost with 0.15 $ / kwh
0.68/441 = 0.00154 btc/ghs comes from order
0.00183 btc/ghs comes energy cost
PSU : lets say, 75$ ----> 75$/441/550$/BTC = 0.00020 btc/ghs
TOTAL COST IN ONE YEAR
0.00154 + 0.00183 + 0.00031 = 0.00368 BTC/ghs = 2.02 $ / ghs @ 550$/btc
Some advise for you, just try cloud mining services with has no fee policy. Just like http://pbmining.com with prices 0.0029 btc/ghs for five years and with no maintance fees, no pool fees, no any other recurring costs,hardware mining is useless at the moment.
Assuming you will mine with this device for one year. Because after a year, hardware mines nothing because of diff rise.
Lets calculate the how much it costs..
0.68 BTC for 441 GHS.
340 watt for 441 GHS = (0.34kwh/441ghs)*0.15$/kwh*24*365/(550$/BTC) = 0.00183 btc/ghs in one year energy cost with 0.15 $ / kwh
0.68/441 = 0.00154 btc/ghs comes from order
0.00183 btc/ghs comes energy cost
PSU : lets say, 75$ ----> 75$/441/550$/BTC = 0.00020 btc/ghs
TOTAL COST IN ONE YEAR
0.00154 + 0.00183 + 0.00031 = 0.00368 BTC/ghs = 2.02 $ / ghs @ 550$/btc
Some advise for you, just try cloud mining services with has no fee policy. Just like http://pbmining.com with prices 0.0029 btc/ghs for five years and with no maintance fees, no pool fees, no any other recurring costs,hardware mining is useless at the moment.
Why not buy and host there? Cheaper and faster. No tax duty.
Host there? You mean bitmaintech host it for you?
You need a PSU as well so add some $50-75 to each S3.
Good point! Although I haven't had to buy a new PSU in awhile since I've been able to repurpose PSUs from defunct mining gear.
Why not buy and host there? Cheaper and faster. No tax duty.
Why not buy S3 directly from manufacturer, the price is lower and you might get some vouchers too..
You need a PSU as well so add some $50-75 to each S3.
I assumed I just divide the cost of the system by the hash rate but that doesn't seem right.
The Antminer s3 costs about $600 and has a hash rate of 441 GH/s, so each GH/s costs about $1.36.
Do you also want to include operating costs, such as power?
S3s have never been $600. The first batch sold for .75btc each. The current price is .66btc which is $386. So the $/GH is ~$0.86.
There were selling from some 3rd party vendors initially for $600 for people who didn't know or didn't want to go through buying BTC and sending payment. Opportunity costs I guess.
There are still people selling them for $450 to $500 on Amazon and other places.
bitcoinx.com does not give you accurate information at all you get tricked into thinking you will earn way more.
S3 is cheapest in term of $/GHs
I assumed I just divide the cost of the system by the hash rate but that doesn't seem right.
The Antminer s3 costs about $600 and has a hash rate of 441 GH/s, so each GH/s costs about $1.36.
Do you also want to include operating costs, such as power?
S3s have never been $600. The first batch sold for .75btc each. The current price is .66btc which is $386. So the $/GH is ~$0.86.
It is very difficult to set up a mining undertaking which generates profits.
We have figured it out a while ago and we are hosting in China. I think one day there will be only cloud mining.
We have figured it out a while ago and we are hosting in China. I think one day there will be only cloud mining.
Because there are variables, there is a formula. As always with these things. The formula for BTC per GH/s is
difficulty * 2^32 / hashrate
In order to get the money out of this you just convert the BTC to whatever currency it is
(difficulty * 2^32 / hashrate) / (BTC / currency )
Not quite...difficulty * 2^32 / hashrate
In order to get the money out of this you just convert the BTC to whatever currency it is
(difficulty * 2^32 / hashrate) / (BTC / currency )
difficulty * 2^32 / hashrate will give you how many seconds you would expect it to take to find a block. The if you took 25 and divided by that number, you'd get how much BTC you'd expect to earn a second. So, to calculate expected earnings per GH/s, this is the correct formula:
Code:
25 / (18736441558 * 2^32 / 1000000000) = 0.00000000031067
Therefore, at current difficulty, 1GH/s = 0.00000000031067BTC/s. This, however, is not what the OP asked. The original question was how to figure out a system's dollar per GH/s, which is simply the cost of the system divided by the hash rate of that system in GH/s. So, if you paid $1000 for a 1TH/s miner, it's $1 per GH/s.If you want to figure out operating costs, that's easy, too. Just take the rated power consumption of the miner, translate into kw and multiply by the cost of your electricity per kWh like this:
Code:
.34 * .10 = 0.034
So, at 10 cents per kWh, a 340 watt miner will cost $0.034 an hour to run, or $0.816 a day. Now to figure out your expected earnings after you've factored in power, you simply take the first number 0.00000000031067 and multiply by 86400 (seconds in a day) to get 0.000026841888 (which is how much BTC 1GH/s expects to earn in a day). Now, convert that to your fiat (I'll use a conversion ratio of 1BTC -> $590 USD) which is $0.01583671392 per day. So, now that you know how much each GH/s will earn you in a day in USD, multiply the value by the GH/s of the miner and subtract out the daily power costs.Of course, you could just use the formula I posted and give the appropriate hash rate there (instead of just calculating earnings for 1GH/s) like this (I'm using the Antminer S3 as an example):
Code:
25 / (18736441558 * 2^32 / 440000000000 / 86400) = 0.011810256
0.011810256 * 590 = 6.96805104
6.96805104 - (0.34 * 24 * .10) = 6.15205104
Therefore, right now an Antminer S3 expects to make you $6.15 a day assuming $590 per BTC and $0.10 per kWh power costs.0.011810256 * 590 = 6.96805104
6.96805104 - (0.34 * 24 * .10) = 6.15205104
Oh sorry. I rescanned the whole thread and found out what he meant.. I misunderstood the quesrion. Also thanks for the full formulas, I guess I've been running on the wrong ones.
Not sure if anyone has recommended but i like this one https://alloscomp.com/bitcoin/calculator. works great and gives a great idea of where next difficulty will be set
i also like http://www.bitcoinx.com/profit/ you just have to ignore the long term profitability factor, however short term (no more than month) i have found to be reasonable.
i also like http://www.bitcoinx.com/profit/ you just have to ignore the long term profitability factor, however short term (no more than month) i have found to be reasonable.
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