Is Bitcoin Mining Profitable

Bitcoin Tutorials - Herong's Tutorial Examples

∟Is Bitcoin Mining Profitable

This section describes Bitcoin mining cost and profitability.

In the previous section, we learned that we can make about $18 USD per day by joining Antpool with an Antminer S9 miner.

But we need to calculate the cost and fees. Here is how our first year forecast looks like include the cost of buying Antminer S9, paying electricity bill, and Antpool fee 2.5%.

Revenue:     $18*365:   + $6,843.75
Antpool fee: 2.5%       -   $171.09
                        -----------
                          $6,672.66
Electricity:                   
  1,375 W
  = 33 kWh/day  
  = $5.28 / day
  at $0.12 / kWh
             $3.96*365: - $1,455.40
                        -----------
                          $5,227.26
                          
Cost of Antminer 9S:    - $3,000.00
                          =========
                          $2,227.26

So Bitcoin mining is profitable. You will make about $2,227 USD for the first year after paying for miner hardware. You will be about $5,227 USD for the second year.