Ethereum (ETH) mining profit formula

BlackSheep19

newbie

Activity: 11

Merit: 0

Quote from: nikbass on October 15, 2017, 12:23:11 PM

Quote from: BlackSheep19 on October 12, 2017, 04:18:44 PM

This short post aims at helping miners or aspiring miners estimate ETH earnings. Finding an easy-to-use ETH profit formula on the web was quite hard for me, so it might help you.

This formula is very useful if your goal is to make estimate of future earnings (and profit) with your own spreadsheet.

Formula:

EarningsPerMonth = (UserHashMh * 1e6 / ((difficultyTH / BlockTimeSec)*1000*1e9))*((60/ BlockTimeSec)*BlockReward)*(60*24*30)*(EthPrice)

With:

UserHashMh = Mining servers hashpower (in MH/s)
Difficulty in TH/s
BlockTime in seconds
BlockReward = number of ETH per block mined (5 currently)
EthPrice in fiat

Enjoy =)

thankyou

Happy to help ! I'll try to provide more formulas (other cryptos) Wink

nikbass

newbie

Activity: 25

Merit: 0

Quote from: BlackSheep19 on October 12, 2017, 04:18:44 PM

This short post aims at helping miners or aspiring miners estimate ETH earnings. Finding an easy-to-use ETH profit formula on the web was quite hard for me, so it might help you.

This formula is very useful if your goal is to make estimate of future earnings (and profit) with your own spreadsheet.

Formula:

EarningsPerMonth = (UserHashMh * 1e6 / ((difficultyTH / BlockTimeSec)*1000*1e9))*((60/ BlockTimeSec)*BlockReward)*(60*24*30)*(EthPrice)

With:

UserHashMh = Mining servers hashpower (in MH/s)
Difficulty in TH/s
BlockTime in seconds
BlockReward = number of ETH per block mined (5 currently)
EthPrice in fiat

Enjoy =)

thankyou

BlackSheep19

newbie

Activity: 11

Merit: 0

Quote from: car1999 on October 14, 2017, 02:49:58 AM

I don't think you need block time in the formula.
$/day = (hashrateMHs * block rewards *1,000,000 / difficulty) *60*60*24*ETH price.

The formula with blocktime is just more accurate, I think

BlackSheep19

newbie

Activity: 11

Merit: 0

FYI, I built this formula from the source code of an Ethereum calcultor: https://github.com/badmofo/ethereum-mining-calculator/blob/master/index.html

Extract from the source code:

function EtherMiningCtrl($scope, $http, $log) {
$scope.ethPrice = ethereumStats.priceUsd;
$scope.netHashGH = (ethereumStats.difficulty / ethereumStats.blockTime) / 1e9;
$scope.blockTime = ethereumStats.blockTime;
$scope.earnings = {};
$scope.computeProfits = function() {
var userRatio = $scope.userHash * 1e6 / ($scope.netHashGH * 1e9);
var blocksPerMin = 60.0 / $scope.blockTime;
var ethPerMin = blocksPerMin * 5.0;
$scope.earnings.min = userRatio * ethPerMin;
$scope.earnings.hour = $scope.earnings.min * 60;
$scope.earnings.day = $scope.earnings.hour * 24;
$scope.earnings.week = $scope.earnings.day * 7;
$scope.earnings.month = $scope.earnings.day * 30;
$scope.earnings.year = $scope.earnings.day * 365;
};

Sev18

full member

Activity: 154

Merit: 100

I love something theoretical. Thanks!

rindo

hero member

Activity: 938

Merit: 1000

News from Russia related to Ethereum mining, with a brand new innovation. A heater that will also mine Eth. From the Comino Company, a russian startup created a high tech solution to fight the economics recession that is happening now in Russia. A miner product, that release heat to the surrounding and can mine a value of approximately $300 per month.

karmakeddon

sr. member

Activity: 378

Merit: 251

This is a good read for the beginners. I wished there was something like this when I started out mining a couple of years ago. Could have saved me the trouble. Props to you my friend for lending a helping hand to newer miners.

car1999

full member

Activity: 350

Merit: 100

I don't think you need block time in the formula.
$/day = (hashrateMHs * block rewards *1,000,000 / difficulty) *60*60*24*ETH price.

BlackSheep19

newbie

Activity: 11

Merit: 0

Quote from: dagarair on October 12, 2017, 04:25:37 PM

easier:

www.cryptocompare.com/mining/calculator

Well, calculators are fine to give you current profits, but they can't help you with estimations of profit over time (they ask you to give a percentage increase of difficulty and price, which is impossible to know). This formula is useful for estimating futures profits in a spreadsheet, using an average USD / Mh/s ratio (based on the past)

jmigdlc99

sr. member

Activity: 784

Merit: 282

Quote from: dagarair on October 12, 2017, 04:25:37 PM

easier:

www.cryptocompare.com/mining/calculator

Made me lol. You could at least acknowledge the OP's efforts haha. But yeah, as a miner knowing the numerous number of online profit calculators should have been part of your initial research.

Allow me to add the some calculators i use as well:
http://whattomine.com
https://nicehash.com/?p=calc

JamesAdams

member

Activity: 66

Merit: 10

Quote from: antonio88s on October 12, 2017, 08:54:31 PM

Quote from: chuksdave on October 12, 2017, 04:28:01 PM

How can I mine ethereum?

You must have a some hardware to mining the ethereum. Best thing you must have is GPU card and you could download minergate software and start it. It will mine the ethereum. It just a simple thing for the beggining.

Please do not use minergate, they give terrible hashrate because they steal them. Best is to search for miners such as Claymore's miner which are trusted by the community and give out decent hashrates.

SUDARMONO

full member

Activity: 504

Merit: 100

thank you for the information on how to measure the formula step about mining ETH, this information is very useful for me and some people who do mining, I prefer to mine ETH and save for me sell in the long term.

antonio88s

full member

Activity: 423

Merit: 118

Quote from: chuksdave on October 12, 2017, 04:28:01 PM

How can I mine ethereum?

You must have a some hardware to mining the ethereum. Best thing you must have is GPU card and you could download minergate software and start it. It will mine the ethereum. It just a simple thing for the beggining.

chuksdave

newbie

Activity: 9

Merit: 0

How can I mine ethereum?

dagarair

sr. member

Activity: 847

Merit: 383

easier:

www.cryptocompare.com/mining/calculator

BlackSheep19

newbie

Activity: 11

Merit: 0

This short post aims at helping miners or aspiring miners estimate ETH earnings. Finding an easy-to-use ETH profit formula on the web was quite hard for me, so it might help you.

This formula is very useful if your goal is to make estimate of future earnings (and profit) with your own spreadsheet.

Formula:

EarningsPerMonth = (UserHashMh * 1e6 / ((difficultyTH / BlockTimeSec)*1000*1e9))*((60/ BlockTimeSec)*BlockReward)*(60*24*30)*(EthPrice)

With:

UserHashMh = Mining servers hashpower (in MH/s)
Difficulty in TH/s
BlockTime in seconds
BlockReward = number of ETH per block mined (5 currently)
EthPrice in fiat

Enjoy =)

Topic: Ethereum (ETH) mining profit formula (Read 1247 times)