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Author Topic: Techniques for tracking mining ROI  (Read 879 times)
windpath (OP)
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April 07, 2014, 04:19:32 PM
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I'd love to hear how various miners track their ROI, what systems you have developed, how you keep track, etc...
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The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
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precrime3
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April 07, 2014, 04:28:39 PM
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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.

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April 07, 2014, 05:08:25 PM
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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
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April 07, 2014, 07:57:09 PM
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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.
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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.


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