Each block mined by miners contains a block reward, which is paid out to the miner that successfully mined the block. While mining today is very competitive, it is possible to run a successful and profitable mining farm. This post will outline the many factors that will determine whether or not your mining operation will be profitable. Mining Hardware Costs The upfront costs to pay for mining hardware is usually the largest expense for any new mining farm.
Just like good computers cost more money, good mining hardware is expensive.
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This does not include electricity costs or equipment costs more on this below. When purchasing mining hardware, you will want to look at these metrics: A higher hash rate means a more powerful miner.
You can use this simple calculator from Bitcoin Wisdom to determine how much money an amount of hash power will earn per month. Hardware Efficiency Hash power is not the end all for determining good miners, though. Miners use massive amounts of electricity. You want a miner that has both a high hash rate and uses the electricity provided efficiently. The Antminer S7 is also the most efficient miner available on the market, with 0.
Consider that the previous version of the S7, the S5, had an efficiency of just 0. That means the S5 uses twice as much electricity per hash as the S7. Equipment Costs Miners generate heat, and also need to be supplied with electricity.
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I recommend Arsbitcoin and EclipseMC with namecoin merged mining. P2Pool is a new completely decentralized alternative. The Bitcoin block mining reward halves everyblocks, the coin reward will decrease from 25 to This might partly be compensated by falling difficulty, raising prices, higher transfer fees, etc. A mining computer generates a lot of heat as a byproduct. Other byproducts could be noise and an angry wife.