Estimating Bitcoin Mining Profitability

hey everyone, can someone break down how to figure out bitcoin mining profits accurately? the numbers differ a lot across sites. also, anyone got an estimate for Antminer S21 Pro? It's 234Th and uses 3510 watts. thanks!

what's your electricity cost per kWh?

just plug your electricity price into the calculator here. If it's showing a two-year payback at 5 cents per kWh, I’d think it could stretch to three years. but if btc shoots to 100k next year, payback might be in one year. it all hinges on when you sell your bitcoin. can’t be super precise.

you're missing a key factor here. electricity price really skews the daily profit. might swing from positive to negative based on that.

yeah, electricity costs dictate everything. but honestly, measure your gains in bitcoin, not fiat. why gamble on fiat calculations when buying bitcoin outright might yield better returns? I like the Braiins calculator for this, it shows everything in bitcoin.

it’s all laid out here. no point in using complex calculators. future bitcoin prices are unpredictable. you might not sell at $60k for ages. and remember, asics become obsolete fast. an old miner needs super cheap electricity to even break even.

for example, I pay around 0.07 USD per kWh. is it worth it to get S21 XP or another miner?

0.07 $/kWh is kinda steep. you gotta run the numbers carefully. S21 XP is solid, but it really depends on bitcoin's market price and your setup's efficiency. I’d stick with the Braiins calculator for clarity.

if you snag an S21 Pro for like 4500-4800 bucks, let’s run some numbers. 234Th, 3510 watts at 7 cents. so, 234 x 0.0475 = $11.11 in bitcoin. 3.6 kWh times 24 gives you 86.4, rounding to 90 kWh at 7 cents equals $6.30. so profit breaks down to $11.11 $6.30 = $4.81 a day. you might hit even in about 1000 days. it’s a gamble, though. how many can you even run? one, two, or twenty? if it’s two, I’d get one miner and invest the rest in btc. see which one pays off better.

if you have a chance to mine without hefty electricity costs, then go for asics. but if it involves repairs, rent, noise, and other overheads, it’s a different ball game. you gotta weigh all those factors. plus, taxes can get tricky too. neighbors won’t love the noise from your rig.

you totally skipped over some key points. 1. cost of the asics. bulk purchases get good discounts. 2. big companies have logistics and warranty support. funny story: a guy in Russia bought an asic for $1500 in China, it broke down, and he found out no service centers in Russia. then the Chinese service would fix it for free, but he had to cover the shipping costs which were hilariously high.

do you guys have a service for comparing mining profitability across different chains, or is it just bitcoin for you?

since this is a bitcoin crowd, I bet most are sticking to it. but you can check out a site like whattomine.com to compare profits across coins that use the same algorithm.

check these calculators out. ASICs usually mine one algorithm, but Litecoin miners can handle LTC plus a couple others (like DOGE). I dig this site for ASIC info.