New Historical Profitability Calculator for Bitcoin Miners

[pgrach]

Hello Bitcoin Talk Community,

We're excited to share our Advanced Profitability Calculator, designed to assist BTC miners in evaluating their operations and maximizing efficiency using accurate historical Bitcoin data. Whether you want to calculate opportunity costs during downtimes or compare different HODLing strategies, our tool provides practical insights.

We plan to open-source the calculator, allowing everyone to use, integrate, and build upon it. Try it out and share your feedback!

Watch the Demo: https://youtu.be/QA1tQTc70fU?feature=shared and Try the Calculator: https://aidala.uk/dashboard

We would love to hear from you.

Best regards,
The Aidala Team https://aidala.uk/

[FP91G]

Consider a more user-friendly interface so that the profit for all models is available on the first page for comparison.
https://www.asicminervalue.com/
And then make it possible to more accurately configure each ASIC, taking into account overclocking and consumption. This function is perfectly implemented and add the payback period in days and months

[pgrach]

Thank you for those suggestions!

profit for all models is available on the first page for comparison.
https://www.asicminervalue.com/

We would need  to implement model release dates first, to be historically precise. It should be easy to implement. The question is why do you want this feature and how UI to look like? you want to see the most/least profitable models for selected mining period, then pick the one you are interested in for more insights, right?

taking into account overclocking and consumption. This function is perfectly implemented and add the payback period in days and months

Roger. in our pipeline. just need to get correct specs for those settings. Also utilization % rates are the same category of accuracy improvement (will go into “advanced” inputs).
you can adjust hashrate and wattage manually already though.

[FP91G]

Thank you for those suggestions!

profit for all models is available on the first page for comparison.
https://www.asicminervalue.com/

We would need  to implement model release dates first, to be historically precise. It should be easy to implement. The question is why do you want this feature and how UI to look like? you want to see the most/least profitable models for selected mining period, then pick the one you are interested in for more insights, right?

taking into account overclocking and consumption. This function is perfectly implemented and add the payback period in days and months

Roger. in our pipeline. just need to get correct specs for those settings. Also utilization % rates are the same category of accuracy improvement (will go into “advanced” inputs).
you can adjust hashrate and wattage manually already though.

You heard me right. Miners want to see the rating of profitable models and the current profit per day, taking into account their electricity price. That's the most important thing. On the additional page you can add more settings, but I told you the most important thing.
The payback is easier for miners to calculate by themselves on a regular calculator, because there are always additional spending every month.
You can also add this feature to the calculator.

[pgrach]

Product improvement log:

1. MODEL input: based on the selected period suggest the list of miners arranged by their profitability, letting user select one they wish. easy
1.1. Integrate model release dates to ensure historical precision. easy

2. New button:
(a) Export data (as excel file). without formulas - Shipped🚀. With formulas - hard Shipped🚀.
(b) Share Results - Shipped🚀. Make URL shorter - later.
(c) Start - End date input logic - autocorrecting input when no data behind + helpful UX note. Shipped🚀

3. Consider allowing user picking several different models aggregating revenues as total. This may expand inputs part. hard.

4. Add alt-coin PoW models to the database. easy

5. Energy Cost input: add options (fixed rate/profit share/fixed rate with profit share). hard

6. New Input: % for HODLING, ie. BTC is sold in full vs sold just to cover OPEX => brings unrealised gains into financial results calculations. easy. UX/UI advanced

7. New Logic: current profit per day. This may diminish the idea that calculator is "historical". Find a way to align this feature.

8. New section: Comprehensive Asset Management Report. Feed historical data into an LLM with a structured prompt to generate a comprehensive report, including earnings, strategies, and performance analysis. hard

9. Advanced Input:
9.1. Include advanced inputs for overclocking and consumption settings. easy.
9.2. additional expenses per month. easy
9.3. pool % to the cost. easy

[SFR10]

We would love to hear from you.

I'm wondering if the network difficulty that's part of the equation is based on each difficulty adjustment or if it's based on the average difficulty on each day.
^{- I do know due to this happening roughly every two weeks, there's not going to be a huge difference, but it'd be more accurate if it's the latter one.}

Product improvement log:
...

I believe pool fees are missing from the equation.

[mikeywith]

NICE!! I have always wanted to see a historical calculator, the main purpose is to prove that in the vast majority of cases buying BTC outperforms mining, I did run my own numbers a few times and I have concluded that in the long run, mining hardly beats HODLing unless you enter and exit at the perfect times, but the amount of data I had at hand was too small to reach to a definite conclusion that could be convincing enough to anyone, obviously, this being a closed-source we can't tell if the numbers are accurate, hope to see you open source this in the near future.

Keep up the good work.

[ABCbits]

Based on memory, this is probably most detailed historical mining calculator i've tried. I also like "Cost-Benefit Analysis" section which could prove that simply buying Bitcoin isn't always most profitable option. Although when i tried it, the chart sometimes failed to updated. When i open browser console, i see few message like this.

Code:

Chart Error:  
Object { stack: "Lo@https://aidala.uk/assets/index-6374d410.js:1057:19284\nC5@https://aidala.uk/assets/index-6374d410.js:1059:1051\nU@https://aidala.uk/assets/index-6374d410.js:1059:5936\n", message: "Request failed with status code 500", name: "AxiosError", code: "ERR_BAD_RESPONSE", config: {…}, request: XMLHttpRequest, response: {…} }

[pgrach]

I'm wondering if the network difficulty that's part of the equation is based on each difficulty adjustment or if it's based on the average difficulty on each day.
^{- I do know due to this happening roughly every two weeks, there's not going to be a huge difference, but it'd be more accurate if it's the latter one.}

Thank you! The "closing" daily data is at 00:00 UTC. Indeed, you have noticed a limitation: it currently only uses daily data. Consequently, during the bi-weekly difficulty changes, our calculator considers only one difficulty level, leading to slightly inaccurate BTC revenue estimates for those days. Typically, as difficulty increases, the calculated accumulated revenue over the long term is slightly lower than in reality. To address this, we would need more granular data, which would increase costs due to the need for additional storage and processing. For now, we accept this immaterial discrepancy.

I believe pool fees are missing from the equation.

Correct. adding to the log.

[pgrach]

NICE!! I have always wanted to see a historical calculator, the main purpose is to prove that in the vast majority of cases buying BTC outperforms mining, I did run my own numbers a few times and I have concluded that in the long run, mining hardly beats HODLing unless you enter and exit at the perfect times, but the amount of data I had at hand was too small to reach to a definite conclusion that could be convincing enough to anyone, obviously, this being a closed-source we can't tell if the numbers are accurate, hope to see you open source this in the near future.

Keep up the good work.

Thank you for your feedback! Yeah, buying BTC often outperforms mining over the long term, which is exactly why we incuded our mine vs buy ratio. It would be fascinating to integrate historical unit-costs data and run scenario analyses to explore this further. ASIC pricing is a complex topic with many variables influencing it beyond just BTC volatility. These variables include inventory levels, tech advancements, supplier competition, opex. Each of these factors can impact the fair pricing of hardware. One juicy feature would be to come up with "a fair ASIC price" indicator in our calculator somehow. The starting point is ofc mine vs buy.


The next feature release is export data - which should be shipped this week normally (jumping on our sprint call with the team now to follow up on that).

Stay tuned for updates!

[pgrach]

Although when i tried it, the chart sometimes failed to updated. When i open browser console, i see few message like this.

this might be when you select date ranges where we have no data behind (too early or in the future). Just discussed with our FE dev on that: by the end of this week we should push some updates with "limits" to mining start/end dates with a clear note.

Next time if error appears could you pls send a screenshot of your input section?

[ABCbits]

Although when i tried it, the chart sometimes failed to updated. When i open browser console, i see few message like this.

this might be when you select date ranges where we have no data behind (too early or in the future). Just discussed with our FE dev on that: by the end of this week we should push some updates with "limits" to mining start/end dates with a clear note.

Next time if error appears could you pls send a screenshot of your input section?

I just tried it again and it seems the error happened when i set end date very close with today's date.

[pgrach]

Shipped Export data (as excel file). Without formulas for now. Check it out.

[pgrach]

I just tried it again and it seems the error happened when i set end date very close with today's date.

We found the reason. Throttling from AWS. Now we got higher quotas from AWS to accommodate a higher number of requests per sec. Should work fine now.
Thank you for pointing at this issue first!

[pgrach]

Shipped another feature: share results. After OSS is released, will try to improve it - making the URL shorter.

https://i.ibb.co/4MYhsLm/image.png

[pgrach]

Now export data is available with ALL Formulas inside!

+ for BTC revenue calculation replaced 2^32 with more "kosher" 2^48/65535.

Enjoy your spreadsheets folks and lmk where we might have screwed up on math!