Crypto Mining Profitability Calculator

Enter your miner's hashrate (TH/s) and power draw (watts) from the manufacturer spec sheet, your all-in electricity rate per kWh, and your pool's fee. Then enter the network conditions: BTC price, network hashrate in EH/s, and the block reward, which has been 3.125 BTC since the April 2024 halving. Hardware cost is optional and only drives the payback figure.

Worked example: 200 TH/s, 3,500 W, $0.08/kWh, 1% pool fee, $64,103 BTC, 915 EH/s (915,000,000 TH/s), 3.125 BTC reward, $4,500 hardware. Your share of the network is 200 ÷ 915,000,000 = 0.0000002186. Gross daily BTC = 0.0000002186 × 3.125 × 144 = 0.00009836 BTC, or 0.00009738 BTC after the 1% fee, worth $6.24/day. Power is 3.5 kW × 24 h = 84 kWh, costing $6.72/day.

The results panel shows −$0.48 daily profit, a $0.0743/kWh break-even rate, 17.5 J/TH efficiency, and −$14 a month / −$174 a year. The hardware payback row disappears entirely, because the calculator only computes payback when daily profit is above zero. A missing payback line is itself the answer: at this rate the machine never pays for itself.

Drop the rate to $0.05/kWh with nothing else changed and power falls to $4.20/day, giving +$2.04/day (about $61/month) and a payback of 2,204 days, a little over six years on $4,500 of hardware.

Share of network = your hashrate (TH/s) ÷ (network hashrate in EH/s × 1,000,000).

Daily gross BTC = share × block reward × 144. The 144 comes from Bitcoin Core's mainnet 10-minute block target: 24 × 60 ÷ 10.

Daily net BTC = daily gross BTC × (1 − pool fee %). Daily revenue = daily net BTC × BTC price.

Daily power cost = (watts ÷ 1,000) × 24 × electricity rate. Daily profit = daily revenue − daily power cost. Monthly profit = daily × 30; annual profit = daily × 365.

Break-even electricity rate = daily revenue ÷ daily kWh. Efficiency (J/TH) = watts ÷ TH/s. Payback days = hardware cost ÷ daily profit, shown only when daily profit is positive.

The block reward input is the protocol subsidy. Bitcoin Core's consensus rules halve it every 210,000 blocks; block 840,000, mined on 20 April 2024, cut it from 6.25 to 3.125 BTC, and it stays there until block 1,050,000. Revenue in this model is subsidy only: transaction fees paid to miners are not included.

Now take a previous-generation class of machine: 100 TH/s drawing 3,000 W, which is 30 J/TH, bought used for $1,500. Keep the same network inputs. Half the S21's hashrate earns half its revenue, $3.12/day, but it still burns 72 kWh a day, so its break-even rate is only $0.0433/kWh.

At $0.05/kWh it loses $0.48/day, the same daily loss the S21 posts at $0.08. At $0.04/kWh it crosses break-even and earns +$0.24/day, and the calculator returns a payback of 6,222 days, around 17 years. At $0.03/kWh profit rises to +$0.96/day and payback shortens to 1,561 days.

The instructive part is how the break-even rate is built. Revenue per terahash, often called hashprice, is identical for every machine on the same network: under these inputs it is $31.53 per PH/s per day before the pool fee and $31.21 after. So break-even rate = net hashprice ÷ (24 × J/TH): $31.21 ÷ (24 × 17.5) = $0.0743 for the S21, and $31.21 ÷ (24 × 30) = $0.0433 for the older unit. Efficiency alone sets where each machine's profit line crosses zero.

Using Bitmain's published specifications at the same $0.08/kWh and the same network inputs: the Antminer S21 (200 TH/s, 3,500 W, 17.5 J/TH) loses $0.48/day with a $0.0743 break-even. The S21 Pro (234 TH/s, 3,510 W, 15 J/TH) earns $0.56/day, break-even $0.0867. The S21 XP (270 TH/s, 3,645 W, 13.5 J/TH) earns $1.43/day, break-even $0.0963. Moving from 17.5 to 13.5 J/TH uses 23% less energy per terahash, and that is the entire gap between a loss and a profit here.

Network growth works against you continuously. If network hashrate rises from 915 to 1,000 EH/s, about 9% higher, the S21's break-even falls to $0.0680/kWh; at $0.05 its profit drops from $2.04 to $1.51/day and payback stretches from 2,204 to 2,977 days. A BTC price fall to $55,000 with the network unchanged pulls break-even down to $0.0638 and profit at $0.05 to $1.16/day.

The same lens prices a hosting or colocation quote. An S21 hosted at $0.06/kWh earns $1.20/day under these inputs; at $0.09/kWh it loses $1.32/day, and only a higher BTC price or a smaller network, neither of which you control, would change that.

Only the block reward is fixed by the protocol. BTC price changes by the minute. Network hashrate cannot be measured directly: it is estimated from the current difficulty and how quickly recent blocks arrived, so single-day estimates are noisy and a seven-day average is steadier. Difficulty itself retargets every 2,016 blocks, roughly every two weeks, under Bitcoin Core's two-week target timespan.

The 915 EH/s and $64,103 defaults were not checked against the live network for this page, so do not read them as current. Before any purchase decision, replace both with the figures published that day by a block explorer or mining data dashboard, write down the date you used, and re-run the calculation whenever difficulty adjusts.

This is not financial or investment advice. The model holds network hashrate, BTC price and the block reward fixed for the whole calculation, so monthly, annual and payback figures assume today's inputs last indefinitely. In practice network hashrate has tended to rise over time, which makes long payback estimates optimistic by construction.

Revenue excludes transaction fees, which add to miner income by an amount that varies block to block. Costs exclude hardware depreciation and failure, cooling and facility overhead beyond the miner's own draw, hosting or maintenance fees, taxes, and resale value. It also treats pool payouts as a smooth daily average; solo mining has no fee but can go long stretches with no reward at all.

Mining revenue only becomes money once coins are sold, and the crypto profit calculator handles the trading side with fees and percentage return. The power side of the equation is the same wattage arithmetic the appliance energy calculator applies to any device, which is useful for checking what a space heater or rack fan adds to the bill next to the miner. If you are weighing ASIC mining against renting or running GPUs for AI work instead, the GPU VRAM estimator sizes the hardware and the LLM API cost calculator shows what the same workload costs as a pay-per-token service.