How to Use The Blockbase Crypto Mining Profit Calculator

This quick guide will help you get started with using the Crypto Mining Profitability Calculator. This calculator is a very handy tool and simple to use. It can give you, very quickly, insights on various metrics and predict an ROI based on certain inputs such as Block Reward, Number of Miners, Mining difficulty etc. This will help you plan your investing journey into the world of Crypto and maximise your ROI.

All you need to do is gather some data and input it into the calculator and you will get a good idea on the profitability metrics for either BTC or ETH. You will need Microsoft Excel installed in order to use calculator.

When you open the calculator file in Excel, you will see some tabs:

• How-To – Some instructions which will be helpful in using the calculator
• Input (BTC or ETH) – Enter data here. Cells coloured yellow are used for inputting data. We will speak about these in a minute.
• Calcs (BTC or ETH) – This is the actual calculation engine. Please do not edit this tab – if you do so, the results may not be accurate.
• Output (BTC or ETH) – A summary of 2 investment cases and a graph for visualizing the profit over time.

Let us dig in deeper.

The Input Tab

This tab is where you will enter the various metrics required to calculate the profitability. Please only edit the cells highlighted in yellow.

 

Current Market Data

• Exchange Rate – Enter the current exchange rate from BTC to EUR in this field. The current rate can be obtained from various sources such as https://coinmarketcap.com/
• Difficulty Rate – Difficulty Rate is defined as “A measure of how difficult it is to find a hash below a given target” or in other words how difficult it is to find a new block. Enter the difficulty rate here. Find out the current difficulty rate for BTC here and for ETH here.
• Block Reward – The Block Reward refers to the “new coins distributed by the network to miners for each successfully solved block”. Enter the block reward for either BTC or ETH. Find out the block rewards for BTC here and for ETH here.

Hosting

• Enter the Energy, Infrastruscture Costs and Management Fee here. These numbers can be obtained from our pricing page.

Investment

• Number of Miners – The number of miners you are looking to obtain.
• Hardware Price – The hardware price per unit. The prices are listed here for: ASIC and GPU.
• Setup Fee , Power Consumptions and Hashrate per miner – These numbers can be found here for ASIC miners and here for GPU miners. ASIC miners are used for mining BTC or Bitcoin Cash and GPU miners are used for ETH, Monero and Zcash.

Scenario

Enter the Monthly ETH or BTC price change and Difficulty Rate Change here. The monthy price change is market dependent and you can enter various different numbers based on historical data and see the Calcs and the Output tab reflected with the profitability numbers based on the predicted price change.

The Calcs Tab

The numbers in this tab will automatically update once you enter in the input values in the Input tab described above. This is a good way of seeing what the Earnings, Monthly Payouts or Accumulated Payouts and Accumulated Profit/Loss can be. Of course, a key indicator in the Payouts and Profit/Loss are the Scenario numbers (described above).

The Output Tab

The Output Tab shows a summary and graph of profitability for 2 scenarios:

• Investment Case A: Converting mined coins back into base currency (example EUR) every month.
• Investment Case B: Holding mined coins and converting base currency at the end of the term only (3 years). Depending on market conditions, this may likely be the more profitable scenario in many cases.

Summary

As you can see, the profitability calculator is simple to use and can provide a good overview of your ROI. Using this prior to investing, will help you plan and optimize for the best results. It makes sense to keep on top of market conditions and continue investing further (if the market conditions warrant it) to maximise profitability.

Please let us know if you have questions or comments about the calculator. We are always open to hearing your suggestions on how it can be improved.