there is a simple formula
using the bitcoin price data (you can get the CSV data to put in an excel spreadsheet)
https://blockchain.info/charts/market-price?timespan=1yearand the mining hashrate data (you can get the CSV data to put in an excel spreadsheet)
https://blockchain.info/charts/hash-rate?timespan=1yearyou then use this formula to get the cost per bitcoin of mining using this formula
=((
hashrate/
14)*
8.22)/
1800i will explain
hashrate number from the hashrate column measurd in Thash
14 dividing the hashrate by 14 gives you how many S9 rigs equate to that hashpower (each rig is 14Thash)
8.22 cost of a S9 rig per day ($3000/365) NOTE:- this is just rig cost of $3000 at $0.00c electric
1800 btc mined per day
for instance,
put the date in the A column
put the btc price in the B column
put the hashrate in the D column
then put the formulae in the C column
[C:2]=((
D2/
14)*
8.22)/
1800 [A] {B} [C] [D]
[1]date btc price minecost hashrate
[2]14 Mar 2018 $8,152 $7,683 23555075.18
you can then make a chart using the data over a period of time
note:- mining cost not include electric
if your electric is $0.05c per kwh
8.22 becomes 9.78 for rig and electric
if your electric is $0.10c per kwh
8.22 becomes 11.34 for rig and electric
if your electric is $0.15c per kwh
8.22 becomes 12.90 for rig and electric
if your electric is $0.20c per kwh
8.22 becomes 14.46 for rig and electric
based on a 1.3kwh S9
NOTE:- does not include electric of lighting/ventilation but does have the rigs electricity of 5 cents and 20 cents
which as of the 16th of march
BTC price: $8,530
mining rig only cost: $8,324
mining rig at 5cent electric: $9,903
mining rig at 20cent electric: $14,642
its worth having the formulae so you can update it and see when the bitcoin price spikes way above mining cost to be profitable (speculative bubble area(bull market/pump). or when a crash goes too far below cost of mining that it makes it a undervalued dump
many people use mining costs and then add in other formulae like the low of a monthly range to get a trend line of trade resistance to do analysis