Bitcoin Forum
November 07, 2024, 03:47:33 AM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Techniques for tracking mining ROI  (Read 899 times)
windpath (OP)
Legendary
*
Offline Offline

Activity: 1258
Merit: 1027


View Profile WWW
April 07, 2014, 04:19:32 PM
 #1

I'd love to hear how various miners track their ROI, what systems you have developed, how you keep track, etc...
precrime3
Member
**
Offline Offline

Activity: 84
Merit: 10

PM for journalist,typing,and data entry services.


View Profile WWW
April 07, 2014, 04:28:39 PM
 #2

I'd love to hear how various miners track their ROI, what systems you have developed, how you keep track, etc...

keeping a log? There is no automatic system, is that whats your after. its not that hard to say "okay I earned this much on this day" and just add them together.

beatljuice
Full Member
***
Offline Offline

Activity: 196
Merit: 100


View Profile
April 07, 2014, 05:08:25 PM
 #3

Spreadsheet.

Cost of equipment
Electricity (Don't forget cooling and lighting)
Repairs
Re-investment
Current value of equipment (depreciation is fast on mining equipment)
Time (most people don't keep track of this, but at least keep it in mind)
Snacks/entertainment (Do you have a subscription to Pandora you listen to while working? Need energy drinks to stay awake?)
Mileage (Had to hit Fry's for a power supply?)
Space used (Renting to your business is a good money maker/write off)
Internet access and equipment

It can be kind of fun, and I'm sure I'm missing things.


cloverme
Legendary
*
Offline Offline

Activity: 1512
Merit: 1057


SpacePirate.io


View Profile WWW
April 07, 2014, 07:57:09 PM
 #4

I'd love to hear how various miners track their ROI, what systems you have developed, how you keep track, etc...

Started out with a spreadsheet then made a custom app written in C# that provides some minimal forecasting.
firejuan
Sr. Member
****
Offline Offline

Activity: 256
Merit: 250

Because it's sterile...


View Profile WWW
April 08, 2014, 08:45:45 PM
 #5

Not a tax expert, but some of beatljuice's list could possibly used as tax information for US miners since mining income is considered a type of self employment so now you can keep up with ROI and HOPEFULLY get some tax breaks.

I'd love to hear how various miners track their ROI, what systems you have developed, how you keep track, etc...

Spreadsheet.

Cost of equipment
Electricity (Don't forget cooling and lighting)
Repairs
Re-investment
Current value of equipment (depreciation is fast on mining equipment)
Time (most people don't keep track of this, but at least keep it in mind)
Snacks/entertainment (Do you have a subscription to Pandora you listen to while working? Need energy drinks to stay awake?)
Mileage (Had to hit Fry's for a power supply?)
Space used (Renting to your business is a good money maker/write off)
Internet access and equipment

It can be kind of fun, and I'm sure I'm missing things.


Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!