digital-coins.net
  • Visit us on
  •  Twitter
  •  Medium

digital-coins.net

Bitcoin, Altcoins and more

Free Bitcoins?

Get them here…

Menu
  • Home
  • Introduction
    • Overview
    • Wallet
  • Invest and earn coins
    •  How to get coins
    • Free (Bit-)coins
    • For Publishers
    • Investing your Bitcoins (update required)
  • Mining
    •  Mining Overview
    • CPU Mining
    • Cloud Mining
  • About

calculations

Evaluate an ASIC Device

16. March 2014 by digital-coin.net Leave a Comment

When you played around with CPU mining, you shouldn’t too much anyway as it is not worth it anymore, and you are still interested in mining digital coins, then it is time to invest in some mining hardware: Either GPU based or ASIC device based. Which one you choose, is up to you. There are a few things to consider when evaluating the appropriate device(s).

Here are a few bullet points to consider to pick the best device at this point in time:

Timing is everything
The most important is to get the right miner at the right time: fast hashrate processing using as less power as possible. This is important to get back your invested money as soon as possible. When I was reading though forums and tutorials and did some calculations it took most miners about 4-6 months to get back their investment before earning money.

Availability
Make sure, the device is available when you order a product. There are many ASIC producing companies promising the latest and greatest mining rig soon. This ‘soon’ can be in a few days or in a few months. It does not help, if the rig got can process the ideal hashrate as per today if they deliver it finally in a few months when the mining difficulty increased and the rig it is outdated, it will take ages to get even the investments costs back (if at all). To be fair, many companies offer then better hashrate processing, but do not take that as a given.

Profitability calculation
There are many sites offering some calculations based on the currency you are mining. Here are a few to do your first calculations. There are many more site around, just use your favorite search engine to find more if you like.

  • http://www.bitcoinx.com/profit/
  • http://www.vnbitcoin.org/bitcoincalculator.php
  • http://www.coinwarz.com/calculators/bitcoin-mining-calculator
  • http://blockchained.com/profit/
  • http://btcinvest.net/en/bitcoin-mining-profit-calculator.php

All of these profitability calculators take different parameters, so pick the one which suits your needs best.

Example
Lets do an example here: Lets assume we buy a miner today having the following specs:

  • Miner costs: 3’199 USD
  • Hashrate: 320GH/s
  • Power usage: 320W/h

The electricity costs here are around 0.13 USD/kWh. You will find these numbers probably on your providers or community/city’s homepage. So if we do the calculations for 90 days we would get the following:

  • Income for 3 months: 1281.22 USD
  • Daily income: 7.57 USD
  • Bitcoin per day: 0.01 BTC

After around 3 months we would have our investment back and then can really start earning money. Sounds like a good deal.

Posted in: News Tagged: asic, bitcoin, calculations, gpu, miner, mining device, mining rig, profitability
Earn Free Bitcoin

1 BTC = $19231.25 USD  (via Coinbase)
1 ETH = $1049.30 USD  (via Coinbase)
1 LTC = $51.21 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

A Day In The Life Of A Bitcoin Core Developer

Bitcoinmagazine
Jul 02

Bitcoin Is A New Paradigm Of Stakeholder Capitalism

Bitcoinmagazine
Jul 02

Just As The Harlem Globetrotters Changed Basketball Forever, The Perth Heat Can Change Sports Forever With Bitcoin

Bitcoinmagazine
Jul 02

Reusing Bitcoin Addresses Can Lead To Private Keys Being Stolen

Bitcoinmagazine
Jul 01

West Virginia Vs. EPA: Good News For Bitcoin, Beyond The Obvious

Bitcoinmagazine
Jul 01

Quiet Revolution Bubbles Below Chaos of Canada Day 2022 Celebrations

Bitcoinmagazine
Jul 01

FTX Buys BlockFi But Passes On Acquiring Celsius

Bitcoinmagazine
Jul 01

El Salvador Buys The Dip, Holds 2,381 Bitcoin In Treasury

Bitcoinmagazine
Jul 01

OpenNode, Lemon Cash To Onboard 1 Million Argentines To Bitcoin Lightning Network

Bitcoinmagazine
Jul 01

How Bitcoiners Should Use Their Hardware Wallets For Advanced Security

Bitcoinmagazine
Jul 01

Bitcoin Fixes The Economic Hurricane Happening Around The World

Bitcoinmagazine
Jul 01

No Matter The Price, The Message Of Bitcoin Has Already Won

Bitcoinmagazine
Jul 01

For Bitcoin, Sentiment And Value Are Not The Same Thing

Bitcoinmagazine
Jul 01

How The Fiat Standard Has Impacted Relationships, Sex And Family — And How Bitcoin Can Fix It

Bitcoinmagazine
Jul 01

Euronext Amsterdam To Launch Its First Spot Bitcoin ETF

Bitcoinmagazine
Jun 30

Grayscale Is Suing The SEC For Denying Its Spot Bitcoin ETF

Bitcoinmagazine
Jun 30

Honk, Honk, HODL: How Bitcoin Fueled The Freedom Convoy And Defied Government Crackdown

Bitcoinmagazine
Jun 30

Exploring The Bitcoin Use Cases Of Spacechains

Bitcoinmagazine
Jun 30

Bitcoin Creates A New Type Of Property Ownership

Bitcoinmagazine
Jun 30

Changing The “Bitcoin Is Useless” Narrative

Bitcoinmagazine
Jun 30

Samsung To Begin Production of 3nm Chips Which Could Be Used For Mining Bitcoin: Report

Bitcoinmagazine
Jun 29

High School Students In El Salvador Can Earn A Bitcoin Diploma

Bitcoinmagazine
Jun 29

21Shares Released The Lowest-Cost Bitcoin ETP In Europe

Bitcoinmagazine
Jun 29

Michael Saylor Announces 480 Bitcoin Buy For MicroStrategy

Bitcoinmagazine
Jun 29

Crypto Lending Scheme Implosions Make Bitcoin Stronger

Bitcoinmagazine
Jun 29

Spacechains: How This New Bitcoin Sidechain Proposal Works

Bitcoinmagazine
Jun 29

We Need To Encrypt The Peer-To-Peer Layer Of Bitcoin For Privacy

Bitcoinmagazine
Jun 29

Perth Heat Baseball Adopts A Bitcoin Standard

Bitcoinmagazine
Jun 29

It Is Time To Turn The Tables On The Bitcoin Environmental Debate

Bitcoinmagazine
Jun 29

Does The Wisdom Of Bitcoin Come From An Ancient Civilization?

Bitcoinmagazine
Jun 28

Nubank Now Allows 53 Million Brazilians To Buy Bitcoin

Bitcoinmagazine
Jun 28

Luxury Swiss Watchmaker Breitling Now Accepts Bitcoin

Bitcoinmagazine
Jun 28

Bitcoin Reserve Now Allows The Purchase Of Blockstream’s Liquid

Bitcoinmagazine
Jun 28

Bitcoin Reserve Now Allows The Purchase Of Liquid Bitcoin

Bitcoinmagazine
Jun 28

Bitcoin Bear Markets: We’ve Been Here Before

Bitcoinmagazine
Jun 28

Luxor Technologies Releases New Hosted Bitcoin Mining Marketplace

Bitcoinmagazine
Jun 28

Bitcoin Is Venice: Fiat Delenda Est

Bitcoinmagazine
Jun 28

Can Government Regulation Incentivize Bitcoin Mining With Renewable Energy?

Bitcoinmagazine
Jun 28

Not All Bitcoin Bear Markets Are The Same

Bitcoinmagazine
Jun 28

Is Bitcoin Really A Hedge Against Inflation?

Bitcoinmagazine
Jun 28

Why Europe Needs The World’s Biggest Bitcoin Conference

Bitcoinmagazine
Jun 28

What Is Bitcoin?

Bitcoinmagazine
Jun 27

Grayscale Partners With Jane Street, Virtu Financial For Pending Spot Bitcoin ETF

Bitcoinmagazine
Jun 27

Bitcoin Songsheet: The Fiat Reality Of Real Estate

Bitcoinmagazine
Jun 27

Bitcoin Magazine To Launch Bitcoin Amsterdam Conference In October

Bitcoinmagazine
Jun 27

Mercury Wallet’s Roadmap To Bitcoin Scalability And Privacy

Bitcoinmagazine
Jun 27

Bitcoin Can Be The Undoing Of Inequality

Bitcoinmagazine
Jun 27

Bitcoin And The Thermodynamics Of Computation

Bitcoinmagazine
Jun 27

Why My Energy Company Pays Me For Running A Bitcoin Miner At Home

Bitcoinmagazine
Jun 26

Bitcoin Can Fund High-Quality, Equitable, Healthcare For Everyone

Bitcoinmagazine
Jun 26

Latest Crypto Fear & Greed Index

Tags

adapad airdrop asic binance bitcoin blockchain monster hunter bluezilla bluezille bscpad celsius coinbase cryptopolis earn ethpad exchange fait faucet free free bitcoin gamezone giveaway gleam IDO igo kitchenft litecoin mechachain metavpad miner mining movez nft nftlaunch polypad promotion review rewards souls of meta trading tronpad trustpad tutorial velaspad wallet whitelist

Latest Platform Reviews

Celsius
Coinbase
Crypto.com (updated)
OKX

Cloud miner reviews

Hashing24.com
HashFlare.io
Genesis-Mining

Archives

  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • May 2021
  • April 2021
  • November 2017
  • October 2017
  • May 2017
  • December 2016
  • November 2016
  • October 2016
  • August 2016
  • December 2014
  • March 2014
  • November 2013

Disclaimer

This site contains referral links to described websites. Thanks for your support.

None of the sites content is financial advise. Do your own research, please.

Copyright © 2022 digital-coins.net.

Magazine WordPress Theme by themehall.com