How to Find Bitcoin Mining Cost?

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In this article, you will learn about the possibility of finding bitcoin mining cost by taking the most important factors into consideration.

Bitcoin Mining cost is different for every single miner that usually depends on location, electricity cost, bitcoin mining hardware device type used as well as maintenance cost of hardware.

It is not possible to find the Bitcoin mining cost variation between locations as there is no single source that will do, a lot of mining operations are not necessarily transparent. Also, the most profitable ones make their own power using wind energy and solar energy.

It is not a fixed cost and depends on many things such as local prices of electricity, proximity to the source, size of the operation, gear and cooling cost, legal framework, and hardware cost.

We did our best to provide you the best possible information that might help you to find bitcoin mining cost.

1 Bitcoin Mining cost depends on the following factors:

  • Hash Rate: It is the total hash power of the bitcoin mining devices used for bitcoin mining and it is represented in TH/s which means Trillions Hash generated per second. For example, Bitmain Antminer S19 Pro mining hardware has a Hash Rate of 110TH/s.
  • Power Consumption: Power Consumption refers to the total power consumption of the mining devices used for bitcoin mining. It is represented in Watt. For example, Bitmain S19 Pro mining hardware has a power consumption of 3250 Watt.
  • Electricity Cost: It refers to the rate of electricity in such an area where the mining farm is established or running. Hence, it represents the total electricity costs for running all mining devices in that area or location. Every country has a different rate of electricity that also affects the bitcoin mining cost. On the other hand, the majority of bitcoin miners using solar or wind electricity nowadays that usually reduces bitcoin mining cost for them.
  • Bitcoin Price: It is the most important factor that affects bitcoin mining profitability. If the bitcoin price is higher then bitcoin mining becomes more profitable that also encourages new miners to join the bitcoin network whereas if the bitcoin price is lower then bitcoin mining becomes less profitable that forced the bitcoin miners to leave the bitcoin network.
  • Bitcoin Mining Difficulty: It refers to the mining difficulty of bitcoin which is adjusted after every 2016 blocks in order to make bitcoin block generation time 10 minutes. It usually changes only when bitcoin network total hash power increase or decrease due to joining or leaving of the bitcoin network by miners. The current bitcoin difficulty is 15.78T (at the time of writing) where it means the bitcoin mining difficulty is increased by 15.78 Trillion times from the bitcoin genesis block mining difficulty.
  • Block Reward: It refers to the number of bitcoins rewarded to the miners for mining the new block on the bitcoin blockchain. The current block reward is 6.25 BTC (at the time of writing). This block reward is reduced by half after every 210,000 blocks due to block Halving event of bitcoin. The next block Halving will occur at 840,000th block.
  • Pool Fees: It refers to the amount of money (usually in bitcoin) given to the mining pools if you joined the bitcoin mining pool. For example, the F2Pool mining pool has a 4% fee and the Poolin mining pool has a 2.5% fee.
  • Hardware Cost: It refers to the purchasing cost of the bitcoin mining hardware device that is going to be used for mining bitcoins. For example, Bitmain Antminer S17 Pro’s purchasing cost is $2199.

2 Some Online Bitcoin Mining cost calculators:

Some Online Bitcoin Mining cost calculators:
cryptocompare bitcoin mining cost calculator

Here are some popular online bitcoin mining cost calculators:

CryptoCompare

CryptoCompare Bitcoin Mining Cost Calculator required the following inputs:

  • Hashing Power (Hash Rate) of Bitcoin Mining Hardware
  • Power Consumption of Bitcoin Mining Hardware (in Watt)
  • Electricity Cost (Cost per KWh)
  • Bitcoin Mining Pool Fee (%)

BuyBitcoinWorldwide

BuyBitcoinWorldwide Bitcoin Mining cost calculator required the following inputs:

  • Hash Rate of bitcoin mining hardware device
  • Bitcoin price ($)
  • Power Consumption of bitcoin mining hardware device in Watts
  • Electricity Cost (Cost per KW/h in USD)

BTC.com

BTC.com bitcoin mining cost calculator
BTC.com bitcoin mining cost calculator

BTC.com Bitcoin mining cost calculator required following inputs:

  • Currency
  • Hash Rate of bitcoin mining hardware device
  • Power used by bitcoin mining hardware device in Watts
  • Electricity Cost ($/KWh)
  • Bitcoin price
  • Bitcoin Mining Difficulty
  • Start and end date range for mining device to be used

NiceHash

NiceHash calculator required following inputs:

  • Choose Currency
  • Electricity Cost
  • Mining Hardware Type (ASIC/GPU/CPU)
  • Mining Hardware Brand
  • Select Mining Hardware Device
  • Choose Number of devices

CryptoMining.tools

cryptomining.tools bitcoin mining cost calculator
cryptomining.tools bitcoin mining cost calculator

CryptoMining.tools Bitcoin Mining cost calculator required the following inputs:

  • Miner List or bitcoin mining hardware device name
  • Hash Rate of bitcoin mining hardware device
  • Power Consumption of the bitcoin mining hardware device in Watts
  • Power Cost or Electricity Cost ($/KWh)
  • Bitcoin block reward
  • Bitcoin Mining Difficulty
  • Bitcoin exchange Rate or Bitcoin Price

3 The Latest most Profitable Bitcoin Mining Hardware Devices:

Antminer S19 Pro

Antminer S19 pro is a bitcoin mining hardware device manufactured by Bitmain company.

statistics of Antminer S19 Pro:

  • Hash Rate – 110 TH/s
  • Power Consumption – 3250 Watts
  • Manufacturer – Bitmain
  • Release – February 2020
  • Price – $2407 (Bitmain official price)
  • Algorithm – SHA-256 algorithm

Whatsminer M30S++

Whatsminer M30S++ is a bitcoin mining hardware device manufactured by MicroBT.

statistics of Whatsminer M30S++

  • Hash Rate – 112 TH/s
  • Power Consumption – 3472 Watts
  • Manufacturer – MicroBT
  • Release – April 2020
  • Price – ¥29210 ($4129)
  • Algorithm – SHA-256 algorithm

Whatsminer M30S+

Whatsminer M30S+ is a bitcoin mining hardware device manufactured by MicroBT.

statistics of Whatsminer M30S+

  • Hash Rate – 100 TH/s
  • Power Consumption – 3400 Watts
  • Manufacturer – MicroBT
  • Release – April 2020
  • Price – ¥20530 ($2900)
  • Algorithm – SHA-256 algorithm

Antminer S19

Antminer S19 is a bitcoin mining hardware device manufactured by Bitmain company.

statistics of Antminer S19:

  • Hash Rate – 95 TH/s
  • Power Consumption – 3250 Watts
  • Manufacturer – Bitmain
  • Release – February 2020
  • Price – $1785 (Bitmain official price)
  • Algorithm – SHA-256 algorithm

Whatsminer M30S

Whatsminer M30S is a bitcoin mining hardware device manufactured by MicroBT.

statistics of Whatsminer M30S:

  • Hash Rate – 88 TH/s
  • Power Consumption – 3344 Watts
  • Manufacturer – MicroBT
  • Release – December 2019
  • Price – ¥14644 ($2070)
  • Algorithm – SHA-256 algorithm

Antminer T19

Antminer T19 is a bitcoin mining hardware device manufactured by Bitmain company.

statistics of Antminer T19:

  • Hash Rate – 84 TH/s
  • Power Consumption – 3150 Watts
  • Manufacturer – Bitmain
  • Release – June 2020
  • Price – $1749 (Bitmain official price)
  • Algorithm – SHA-256 algorithm

Hummer Miner H9 Pro

Hummer Miner H9 Pro is a bitcoin mining hardware device manufactured by Hummer Miners company.

statistics of Hummer Miner H9 Pro:

  • Hash Rate – 84 TH/s
  • Power Consumption – 3360 Watts
  • Manufacturer – Hummer Miners
  • Release – February 2020
  • Price – $1600
  • Algorithm – SHA-256 algorithm

4 Some Biggest Bitcoin Mining Pools:

F2Pool

It is a China-based multi-cryptocurrency public mining Pool that allows more than 40 cryptocurrencies including Bitcoin, Litecoin, Ethereum, ZEC, and Bitcoin Cash to mine on its mining Pool.

It was initially started in Beijing, China but later opened worldwide for everyone to join the pool due to its popularity.

F2Pool is the largest mining pool all around the world.

Poolin Pool minimum payout is 0.005 BTC.

It charged the pool fee of 2.5% PPS+.

official website – https://www.f2pool.com/

Poolin

It is a China-based multi-cryptocurrency public mining Pool that includes Bitcoin, Bitcoin Cash, Litecoin. It allows all people around the world to join its mining Pool.

Poolin was founded by Kevin Pan, Christopher Zhu, and Tianzhao Li,

Initially, it was started by BTC.com former founders but later acquired by bitcoin mining hardware manufacturing company Bitmain.

Poolin Pool minimum payout is 0.005 BTC

It charged the pool fee of 2.5% FPPS (Full Pay Per Share).

official website – https://www.poolin.com/

Slush Pool (recommended)

Slush Pool is the oldest Bitcoin Mining pool existing today which is in the market since 2010.

The Slush Pool is operated by Satoshi Labs Team who also created the first Bitcoin hardware wallet named Trezor.

Slush Pool minimum payout is 0.001 BTC

It charged the pool fee of 2%.

Official website – https://slushpool.com/

BTC.com (we don’t recommend this)

It is China-based multi-cryptocurrency public mining Pool that includes Bitcoin, Bitcoin cash, Litecoin, Ethereum.

BTC.com is around for years but the pool was founded in 2016 by a bitcoin mining hardware manufacturing company Bitmain.

It charged the pool fee of 1.5% FPPS.

official website – https://pool.btc.com/

Antpool

Antpool is a China-based multi-cryptocurrency mining pool that supports 10 cryptocurrencies including Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.

The Antpool was founded in 2014 and owned by bitcoin mining hardware manufacturing company Bitmain.

It is a public mining pool that allows miners to join the pool throughout the world.

It charged the pool fee of 2.5% PPS.

Official website – https://www.antpool.com/

ViaBTC

It was founded in 2016. It also offers cloud mining services.

Official website – https://www.viabtc.com/

Following are some medium or small Bitcoin Mining Pools:

  • 1THash and 58coin Pool
  • BTC.TOP Pool
  • Huobi.pool
  • OKEx Pool

There are kinds of things in the world that usually created by incidents or due to their specific need.

These things are once created then they would never be destroyed in the future due to their specific structure and nature.

Like – Plastic, Internet, Bitcoin

-Trozer The One