If you consider all the factors mentioned above If you take into account all the above factors, you can forecast the profitability of mining. The hash rate and the mining difficulty differ from one cryptocurrency to the next. But, here is the general formula for calculating mining profits.
First of all, you need to be aware of the total network hash rate as well as the hash rate of the mining equipment.

Our share of hash rate = Mining Hardware Hash Rate / The Total Network Hash Rate

Next step to determine what the block reward (BR) that you plan to mine.

Daily Block Reward (BR) = (Cryptocurrency mined per block) * ( blocks each day)

Cryptocurrency that you receive every day is (Total cryptocurrency coins that are mined each day) (x (Our hash rate on the network)

Daily Revenue: The amount that you get in the form of fiat money.

Consider all related costs associated with cryptocurrency mining. As an example, miner need to consider one-time costs as well as regular expenses.

The credibility and reputation of the mining pool is essential in your crypto mining adventure. So, ensure that the mining pool is clear regarding its hash rate as well as its payout scheme prior to collaborating with it. Don’t put your trust in and money by joining a scam mining pool which could deplete your profits or even delay them.

It is strongly advised to seek reviews from fellow miners as well as friends prior to choosing an mining pool. Also, you should ask questions and get them answered prior to signing up to the mining pool.

Verifying the reliability of a mining operation is just as crucial as determining its reliability. Stability is the term used to describe the experience of the pool. How quick and smooth are the pools, without any interruptions?
A well-functioning and stable mining pool is required for efficient mining operations and to earn mining rewards. So, ensure that you check these points for the security of your mining pool.

• Verify that the pool is connected to secured connections like one of VPN or is relying in an internet connection that is open.
• Verify if the pool been the victim of DDoS attacks or other major cyber attack within the recent.
• Do you have any scheduled downtimes? How long and how often are they down?

You can look up the above factors on forums online, such as Reddit forums, in which users discuss and offer advice about mining pools, as well as their advantages and disadvantages. In addition, talking to your crypto mining acquaintances is more trustworthy, since they’ll have firsthand knowledge of mining pools.