Q. How to Calculate Mining Profitability?
Technical writer
How to Calculate Mining Profitability?
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.