Since it’s now impossible to profitably mine Bitcoin with a standard computer or laptop, you’ll need specialized hardware called ASICs.
Here’s what an ASIC miner looks like up close:
The Dragonmint 16T miner.
Originally, Bitcoin’s creator intended for Bitcoin to be mined on CPUs (like your laptop or desktop computer). However, Bitcoin miners discovered they could get more hashing power from graphic cards. Graphic cards were then surpassed by ASICs (Application Specific Integrated Circuits).
Think of a Bitcoin ASIC as specialized Bitcoin mining computers, Bitcoin mining machines, or “bitcoin generators”.
Nowadays all serious Bitcoin mining is performed on dedicated Bitcoin mining hardware ASICs, usually in thermally-regulated data-centers with low-cost electricity.
Don’t Get Confused
There is Bitcoin mining hardware, which mines bitcoins.
There are also Bitcoin hardware wallets like the Ledger Nano X, which secure bitcoins.
Check Profitability
You can use our calculator below to check the mining hardware above. Input your expected electricity price and the hash rate of the miner for an estimate.Hash Rate:
GH/s TH/s Bitcoin Price ($):
Power consumption (watts):
Cost per KW/h in $:
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Profit / day$0
Mined per day0 BTC
Mined per day$0
Electricity costs per day0
Profit / month$0
Mined per month0 BTC
Mined per month$0
Electricity costs / month0
Profit / year$0
Mined per year0 BTC
Mined per year$0
Electricity costs / year
Profitability Factors
The Bitcoin price and the total network hash rate are the two main factors that will affect your profitability.
Our calculator is more accurate than most others because ours assumes the 0.4527678% daily increase in network hash rate. This has been the average daily increase over the past 6 months.
Most other calculators do NOT include this metric which makes mining appear way more profitable than it actually is.
The Bitcoin Price
Bitcoin mining is a booming industry with an estimated 1,000,000 unique individuals mining bitcoins. The major driver of this increase is the rising price of Bitcoin.
The Bitcoin price increased in 2021 from around $30,000 on January 2021 to around $46,000 on January 2022. There were many times over the year that the price exceeded $50,000 even reaching a high of about $67,000. Try messing with the calculator using different prices.
Know your Competition
It may seem easy to just spin up a miner.
But you NEED to take a look at just how serious mining is.
The video below offers an inside look at what was one of China’s largest mines.
