Mining сalculator is a program that determines the prime cost of certain cryptocurrency mining. How good the calculator is we can determine by the following:
- The number of parameters considered, including additional costs (for example, electricity prices or pool fees).
- The quantity of supported algorithms for digital currencies extraction.
- The number of obtaining results options based on a particular algorithm, mining programs, coins or custom settings availability.
Table of Contents
- Top 10 calculators for cryptocurrency mining profitability
- The problems of finding, installation and using a mining calculator
- How to choose the calculator for Bitcoin Cash mining calculator?
- Cryptocurrency mining calculators
- What user should know to make a calculation
- How to determine the appropriate type of mining using a calculator?
The choice of a calculator for mining is very important, these services allow:
- Beginner miners – to get preliminary figures for a business plan. To understand the optimal level for equipment cost that amounts to thousands of rubles. To choose an economical extraction option and to choose the altcoin.
- Farm owners – to look for highly profitable cryptocurrencies without wasting time on reconfiguring programs and empirical studies leading to equipment downtime.
- Cloud services clients – to conduct expert evaluation of the proposed contract terms.
Top 10 calculators for cryptocurrency mining profitability
- BitsMedia – https://bits.media/calculator/
- CryptMining – https://crypt-mining.net/profit-calculator
- Cryptocompare – https://www.cryptocompare.com/mining/calculator/
- CoinWarz – https://www.coinwarz.com/calculators
- Crypto-Coinz – https://www.crypto-coinz.net/crypto-calculator/
- NiceHash – https://www.nicehash.com/profitability-calculator
- CCG – https://www.ccgmining.com/profit-calculator.php
- Hashing24 – https://hashing24.com/calculator
Bitcoin Cash (BCH) is a Bitcoin fork, a new coin with an increased block size for greater transactions capacity, otherwise copying the Bitcoin network algorithm. BCH extraction is considered more profitable than BTС. But it requires an ASIC-miner or the availability of large number of video cards with a high degree of performance – high hashrate. This implies a large investment in Bitcoin Cash mining. So it requires an independent profit audit, the correctness of which depends on the calculator used. You can also look at other cryptocurrencies that are easiest to mine.
The problems of finding, installation and using a mining calculator
The Cryptocurrency creators did not take the time to develop additional software for miners, which calculates the prime cost and profitability of their work. The absence of “reliable sources” gave rise to high risks of computer infection by hidden miners. Users should avoid installing desktop versions of calculators, and monitor the traffic of on-line versions Internet sites opened.
Remember, incorrect cryptocurrency extraction costs calculations will bring losses in fiat money. Before using the figures, compare the calculated values with the reference values found on the thematic resources.
Having defined the software version, the user may have to deal with a smaller extraction scale than the one specified by the “verified” calculator. Floating values within 20% are completely permissible, a big difference will indicate problems with setting up the equipment. Typically, this means BIOS problems or the lack of the latest updates, the incompatibility of elemental bases for various brands of motherboard and graphics card manufacturers, etc. So don’t forget to get right best bitcoin mining software.
How to choose the calculator for Bitcoin Cash mining calculator?
The community of crypto-enthusiasts, together with the developers’ funds, created online encyclopedia Bitcoin Wiki on the Internet. So, beginner miners in search of a Bitcoin Cash mining calculator can access this knowledge base and compare it with users’ choice and reviews of the miners on BitcoinTalk, Reddit and GitHub resources, also related to digital currencies.
Also, a lot of useful information on calculators and reference figures for calculators comparison you can find on the Bitcoin Cash mining pools websites.
Cryptocurrency mining calculators
The whattomine.com site can be the best calculator for Bitcoin Cash mining cost. Despite the first impression of complex interface, the service allows you to get the figures for mining costs based on the type of digital currency, the algorithm of network validation, options for working in the pool or solo-mining, using both GPUs and ASICs.
In calculations, whattomine.com automatically substitutes the current block reward value, the exchange rate. It provides a selection of statistics on the work of pools and selected coin market fluctuations.
By default, when you open the site you will see a list of production algorithms using a GPU on the page. The increased mining difficulty using the SHA-256 algorithm, calculated as the ratio of the final hash of all the devices of the miners to the performance figures of the farm, forced the creators of whattomine.com to move this algorithm to the ASIC tab.
What user should know to make a calculation
- The name of validation algorithm, for example Bitcoin Cash coincides with Bitcoin and many of its other forks and uses SHA-256.
- Hashrate – the video card or ASIC performance, nominal or supposed to be purchased for theoretical calculations
- Power consumption and its cost.
Launched farm hashrate can be measured on site whatismyhashrate.com. The figures obtained will help to compare de-facto performance with the claimed hashrate according to the documentation. Also, these data will help to determine whether selected software and OS settings are correct for mining purposes. And to compare them with the standards for thematic resources.
To evaluate the optimal equipment selection for the farm through energy efficiency, NiceHash pool service will help. Here you need only to enter the GPU or processor manufacturer, model and the cost of 1W of electricity.
To simplify the calculation task and reduce the amount of data in the interface, click on the “Coin” tab at the top of the menu and select Bitcoin Cash, enter your hashrate, the number of watts consumed by the farm, and electricity cost.
Bitcoin Cash extraction by ASIC-miners is much more efficient than using GPU farms, but such equipment requires large investments. BTC.com pool mining calculator will determine invested funds payback time. The service takes into account increasing mining difficulty over time.
The user should understand that the data on the current exchange rate are taken into account. Because the market value of Bitcoin Cash, like other digital currencies, can vary in a wide range.
An alternative option for buying mining equipment can be acquisition of cloud contracts, by which the pool can provide a pre-specified hashrate. In this case, the calculation is reduced to the selection of this figure. Antpool.com has the simplest Bitcoin Cash mining calculator. User just needs to specify the equipment hashrate and receive the daily / monthly and annual extraction value based on the nominal value of the cryptocurrency selected.
How to determine the appropriate type of mining using a calculator?
In the review three types of mining difficulty calculators are represented. If, after visiting the whattomine.com, a beginner Bitcoin Cash miner still has a lot of questions, go to the ViaBtc.com pool site and read the hardware setup guide.
Owning a farm or launching an ASIC-miner require certain skills in the equipment maintenance, adjustment and debugging. Misunderstanding of the topic and errors will result in low earnings or impossibility to quickly adjust to the optimal profitability of mining, or to launch parallel extraction of other cryptocurrencies.
Lately a lot of large companies have been creating decentralized platforms for leasing free capacities. Therefore it’s easier for a novice to sign a contract for extraction – it requires minimal knowledge of technical basics.
To “not lose” on such contracts, the miner can rely on statistics figures from the bitinfocharts.com site. It calculates the average daily profit rate for cryptocurrencies at 1 THs rate. Also, in determining the benefits of the transaction and the real payback time of the funds spent, the beginner miner will get help from the Cryptocompare.com site. Finally, it compares the current offers of contracts, various digital currencies and pools.
But first the beginner should study the basics for cryptocurrency, types of blockchain, nodes, wallets, the difference between cold and hot storage and choose a pool that is widely known. It will help to save funds from investing in fraudulent projects, and also to protect your digital wallet from hackers.