Bitcoin Forum

This is a very simple calculation:  Go to block explorer and find hashestowin

1048471149936089

divide by 50 since 50 BTC in a block
divide by 1000000 hashes in a megahash
divide by 3600 seconds in a hour
divide by 24 hours in a day

and you get 242.7 Mh/s need to get 1 BTC in a day.


Electricity Costs per BTC
variable cost of electricity $0.15
variable mining efficiency 1.35 Mh/s per watt

242.7 Mh/s per BTC per day

divide by mining efficiency to get watts

179.8 watts

divide by 1000
multiply by 24

4.31 kwh per BTC

4.31 kwh * $0.15 = $0.65 per BTC

Very useful calculations, and thank you for explaining each step incredibly well.

The only thing left to mention would be:
 
 - Mining Pool Fees
 - Mining Pool Luck

Those will both reduce the BTC per day payout by a random %

Only fees, as luck is averaged out.

Stale shares might also be a factor for pooled mining.

Luck only properly averages out if your variance converges within one difficulty time period (2016 blocks). If you are in a large enough pool, this shouldn't be an issue, but it can be a problem for calculations if you are in an especially small pool or solo.

Thanks for the calculations, I didn't start looking at it this way till I saw this post. Very helpful indeed.

Btw I'm looking for ways to fetch current difficulty, exchange rates and some of these values to excel. Is this possible?

Also, I'd like to know how some of you calculate no. of days till next difficulty adjustments and the estimated adjustment. Could someone point me in the right direction at least :)

VBScript will do the trick.

(I'm sure there are lots of other ways and I know real programmers tend to despise VBS.)