So BFL is finally sending me my 60 GH/s miner and I am trying to calculate profitability to determine if I should sell it or if I should mine with it. I am using:
http://www.bitcoinx.com/profit/With the default settings, except wattage I bumped up to 400 Watts, Hash rate to 60 GH/s, cost of hardware to 1,500 and time frame to 12 months. I am getting a profit of just under 8k in the first year, but I must be missing something. The deal seems to be too good. Can someone tell me what I am missing?
Bitcoin difficulty: 112,628,549
Bitcoins per Block (BTC/block): 25.00
Conversion rate (USD/BTC): 130.16
Hash rate: 60 GH/s
Electricity rate (USD/kWh): 0.15
Power consumption (W): 450.00 (computer on some sort of inactive mode, while miner at 300+? dunno if this is accurate)
Time frame (months): 12
Cost of mining hardware (USD): 1500.00
Profitability decline per year: 0.61
Results
Difficulty: 112,628,549.00
Mining Factor 100 : 0.06 USD/24h@100MHash/s as in these charts
Average generation time for a block (solo): 93 days, 7 hours (can vary greatly depending on your luck)
Hardware break even: 47 days
Net profit first time frame : 7957.73 USD
Coins per 24h at these conditions : 0.2679 BTC
Power cost per 24h: 1.62 USD
Revenue per day: 34.87 USD
Less power costs: 33.25 USD
System efficiency : 133.33 MH/s/W
Mining Factor 100 at the end of the time frame: 0.04 USD/24h@100MHash/s
Average Mining Factor 100: 0.05 USD/24h@100MHash/s
Power cost per time frame: 591.70 USD
Revenue per time frame: 10049.43 USD
Less power costs: 9457.73 USD