Calculating Dollar Per GH/s ...

[tmason]

Hello,

This is a dumb question for sure, but I can't find it anywhere.

How do I calculate the "dollar per GH/s" for a system?

I assumed I just divide the cost of the system by the hash rate but that doesn't seem right.

Thank you for your time.

[odolvlobo]

I assumed I just divide the cost of the system by the hash rate but that doesn't seem right.

The Antminer s3 costs about $600 and has a hash rate of 441 GH/s, so each GH/s costs about $1.36.

Do you also want to include operating costs, such as power?

[jwcastle]

If you're talking about what your expected return is per each GH/s mining power, it's about 2 cents (USD) per GH/s per day currently.
That will change next week when the difficulty goes up again, like it has every week. The exchange rate has been pretty stable at around $570-$600 per BTC.

[FUR11]

Hello,

This is a dumb question for sure, but I can't find it anywhere.

How do I calculate the "dollar per GH/s" for a system?

I assumed I just divide the cost of the system by the hash rate but that doesn't seem right.

Thank you for your time.

Actually you are right, that's basically how you would calculate the costs of buying that device. You have to factor in the costs of running it, though. They do consume a lot of electricity. If you manage to stay below $1/GH/s you're off in a way to reach a positive ROI if you're lucky.

[leechenlua]

you just go to this site and receive parameters of the device that you have
for example
Hash rate
Power consumption (W)
Time frame (months)
www.bitcoinx.com/profit

[odolvlobo]

you just go to this site and receive parameters of the device that you have
for example
Hash rate
Power consumption (W)
Time frame (months)
www.bitcoinx.com/profit

Please don't use bitcoinx.com. The defaults (in particular, "Profitability decline per year") are not reasonable and you will be fooled into thinking you will earn much more than you actually will.

[xstr8guy]

If you're talking about what your expected return is per each GH/s mining power, it's about 2 cents (USD) per GH/s per day currently.
That will change next week when the difficulty goes up again, like it has every week. The exchange rate has been pretty stable at around $570-$600 per BTC.

Difficulty does not go up every week. Difficulty adjusts (can theoretically go down too) when 2016 Blocks are found which is approximately 10-14 days.

[MasterOwel]

Because there are variables, there is a formula. As always with these things. The formula for BTC per GH/s is

difficulty * 2^32 / hashrate

In order to get the money out of this you just convert the BTC to whatever currency it is

(difficulty * 2^32 / hashrate) / (BTC / currency )

[jonnybravo0311]

Because there are variables, there is a formula. As always with these things. The formula for BTC per GH/s is

difficulty * 2^32 / hashrate

In order to get the money out of this you just convert the BTC to whatever currency it is

(difficulty * 2^32 / hashrate) / (BTC / currency )

Not quite...

difficulty * 2^32 / hashrate will give you how many seconds you would expect it to take to find a block.  The if you took 25 and divided by that number, you'd get how much BTC you'd expect to earn a second.  So, to calculate expected earnings per GH/s, this is the correct formula:

Code:

25 / (18736441558 * 2^32 / 1000000000) = 0.00000000031067

Therefore, at current difficulty, 1GH/s = 0.00000000031067BTC/s.  This, however, is not what the OP asked.  The original question was how to figure out a system's dollar per GH/s, which is simply the cost of the system divided by the hash rate of that system in GH/s.  So, if you paid $1000 for a 1TH/s miner, it's $1 per GH/s.

If you want to figure out operating costs, that's easy, too.  Just take the rated power consumption of the miner, translate into kw and multiply by the cost of your electricity per kWh like this:

Code:

.34 * .10 = 0.034

So, at 10 cents per kWh, a 340 watt miner will cost $0.034 an hour to run, or $0.816 a day.  Now to figure out your expected earnings after you've factored in power, you simply take the first number 0.00000000031067 and multiply by 86400 (seconds in a day) to get 0.000026841888 (which is how much BTC 1GH/s expects to earn in a day).  Now, convert that to your fiat (I'll use a conversion ratio of 1BTC -> $590 USD) which is $0.01583671392 per day.  So, now that you know how much each GH/s will earn you in a day in USD, multiply the value by the GH/s of the miner and subtract out the daily power costs.

Of course, you could just use the formula I posted and give the appropriate hash rate there (instead of just calculating earnings for 1GH/s) like this (I'm using the Antminer S3 as an example):

Code:

25 / (18736441558 * 2^32 / 440000000000 / 86400) = 0.011810256
0.011810256 * 590 = 6.96805104
6.96805104 - (0.34 * 24 * .10) = 6.15205104

Therefore, right now an Antminer S3 expects to make you $6.15 a day assuming $590 per BTC and $0.10 per kWh power costs.

[catoboli]

Not sure if anyone has recommended but i like this one https://alloscomp.com/bitcoin/calculator. works great and gives a great idea of where next difficulty will be set

i also like http://www.bitcoinx.com/profit/ you just have to ignore the long term profitability factor, however short term (no more than month) i have found to be reasonable.

[MasterOwel]

Because there are variables, there is a formula. As always with these things. The formula for BTC per GH/s is

difficulty * 2^32 / hashrate

In order to get the money out of this you just convert the BTC to whatever currency it is

(difficulty * 2^32 / hashrate) / (BTC / currency )

Not quite...

difficulty * 2^32 / hashrate will give you how many seconds you would expect it to take to find a block.  The if you took 25 and divided by that number, you'd get how much BTC you'd expect to earn a second.  So, to calculate expected earnings per GH/s, this is the correct formula:

Code:

25 / (18736441558 * 2^32 / 1000000000) = 0.00000000031067

Therefore, at current difficulty, 1GH/s = 0.00000000031067BTC/s.  This, however, is not what the OP asked.  The original question was how to figure out a system's dollar per GH/s, which is simply the cost of the system divided by the hash rate of that system in GH/s.  So, if you paid $1000 for a 1TH/s miner, it's $1 per GH/s.

If you want to figure out operating costs, that's easy, too.  Just take the rated power consumption of the miner, translate into kw and multiply by the cost of your electricity per kWh like this:

Code:

.34 * .10 = 0.034

So, at 10 cents per kWh, a 340 watt miner will cost $0.034 an hour to run, or $0.816 a day.  Now to figure out your expected earnings after you've factored in power, you simply take the first number 0.00000000031067 and multiply by 86400 (seconds in a day) to get 0.000026841888 (which is how much BTC 1GH/s expects to earn in a day).  Now, convert that to your fiat (I'll use a conversion ratio of 1BTC -> $590 USD) which is $0.01583671392 per day.  So, now that you know how much each GH/s will earn you in a day in USD, multiply the value by the GH/s of the miner and subtract out the daily power costs.

Of course, you could just use the formula I posted and give the appropriate hash rate there (instead of just calculating earnings for 1GH/s) like this (I'm using the Antminer S3 as an example):

Code:

25 / (18736441558 * 2^32 / 440000000000 / 86400) = 0.011810256
0.011810256 * 590 = 6.96805104
6.96805104 - (0.34 * 24 * .10) = 6.15205104

Therefore, right now an Antminer S3 expects to make you $6.15 a day assuming $590 per BTC and $0.10 per kWh power costs.

Oh sorry. I rescanned the whole thread and found out what he meant.. I misunderstood the quesrion. Also thanks for the full formulas, I guess I've been running on the wrong ones.

[l3sny]

It is very difficult to set up a mining undertaking which generates profits.
We have figured it out a while ago and we are hosting in China. I think one day there will be only cloud mining.

[xstr8guy]

I assumed I just divide the cost of the system by the hash rate but that doesn't seem right.

The Antminer s3 costs about $600 and has a hash rate of 441 GH/s, so each GH/s costs about $1.36.

Do you also want to include operating costs, such as power?

S3s have never been $600. The first batch sold for .75btc each. The current price is .66btc which is $386. So the $/GH is ~$0.86.

[OptimusPrime7]

S3 is cheapest in term of $/GHs

[gotmyhaton]

bitcoinx.com does not give you accurate information at all you get tricked into thinking you will earn way more.

[Bitsaurus]

I assumed I just divide the cost of the system by the hash rate but that doesn't seem right.

The Antminer s3 costs about $600 and has a hash rate of 441 GH/s, so each GH/s costs about $1.36.

Do you also want to include operating costs, such as power?

S3s have never been $600. The first batch sold for .75btc each. The current price is .66btc which is $386. So the $/GH is ~$0.86.

There were selling from some 3rd party vendors initially for $600 for people who didn't know or didn't want to go through buying BTC and sending payment.  Opportunity costs I guess.

There are still people selling them for $450 to $500 on Amazon and other places.

[l3sny]

You need a PSU as well so add some $50-75 to each S3.

[HashFarmer]

Why not buy S3 directly from manufacturer, the price is lower and you might get some vouchers too..

[l3sny]

Why not buy and host there? Cheaper and faster. No tax duty.

[xstr8guy]

You need a PSU as well so add some $50-75 to each S3.

Good point! Although I haven't had to buy a new PSU in awhile since I've been able to repurpose PSUs from defunct mining gear.