Cryptocurrency mining income has dropped significantly in recent years, so to make money, you need a strategy. In this case, mining calculators are very useful. With their help, miners receive information about the profitability of various algorithms and cryptocurrencies.
Mining profitability calculators act as an advisor to help you determine whether to invest in a mining business. Please note that they report profitable coins for the current time, but not for the future. In this way they provide a starting point to work from.
Before using the calculator, make sure you know your GPU model and hashrate along with the cryptocurrency algorithm. In addition, you will need electricity rates in your area.
Any incorrect information will affect your profitability. It is important to note that the values shown in the calculator are based on the current network hashrate.
Note that the optimal option for mining cryptocurrency for 2022 is cloud mining. There are quite a large number of services that are ready to provide computing power for rent, but be careful, against the backdrop of the growing popularity of digital currency and mining, a large number of scammers have appeared, so you need to use only reliable and proven services. We have prepared for you a rating of the best cloud mining services relevant for 2022.
Best Cryptocurrency Mining Calculators 2022
The calculators listed in this section allow you to determine the profitability of mining and calculate the payback of equipment.
1️⃣ What To Mine
Official website ⇨ https://whattomine.com
WhatToMine is one of the popular cryptocurrency mining profitability calculators. It can be used both to calculate the profitability of mining specific coins, and to determine which coin is best to mine at a given moment. Its interface may seem confusing at first, but this is only at first glance.
It's actually simple:
- Tabs in the top menu allow you to switch between calculators for GPU and ASIC, calculate profitability for a specific coin (Coins tab) or income from dual mining (ETH+ HNS), and also view ratings of the currently most profitable video cards and ASICs.
- Below are the models of the most popular devices for mining. For example, 1660Ti means GeForce GTX 1660Ti graphics card. You need to select all the devices that you have or that you plan to buy, and indicate the quantity of each of them.
- Below is a table with mining algorithms. Each of them can be activated or deactivated so that calculations are not made for it. By default, all algorithms are enabled.
- Under the algorithms there are additional settings. Here you can specify the cost of electricity, set up filters and sort the results, and also select the exchanges that you plan to use to exchange earned cryptocurrencies for fiat.
After all the settings, click Calculate, and a table with the most profitable altcoins will appear below. The more fields you fill in the calculator, the more accurate the result will be. The table of altcoins shows such data as the current market rate, difficulty, capitalization, block creation time, estimated profit per day, three days, seven days.
2️⃣ NiceHash
Official website ⇨ https://www.nicehash.com
If you are interested in mining, profitability calculations can be done on the NiceHash website. The service allows you to make calculations not only for video cards and ASICs, but also for processors. It is possible to select from a list of popular models of devices used for mining. According to NiceHash, each of the devices has been tested in their laboratories and the results are given based on these tests. In real life they may differ. Instructions for use:
- Specify currency or leave USD as default.
- Indicate the cost of electricity per kilowatt.
- Select device type – GPU, CPU, ASIC.
- Select a manufacturer, for example, NVidia or Bitmain. For ASIC you still need to select an algorithm.
- Select the device itself from those available in the list.
- Specify the number of devices.
It is possible to specify the hashrate and all data manually if your device is not in the list. To do this, click on the gear next to the quantity. After specifying all the necessary data, click the “Calculate” button. The approximate income per day will be displayed below. It should be borne in mind that the result is calculated based on data previously obtained on this equipment. It will not be possible to calculate the profit for the day, then multiply it by 30 and get the profit for the month, since profitability is constantly fluctuating.
3️⃣CoinWarz
Official website ⇨ https://www.coinwarz.com
Recently, many have been attracted to mining. Calculation of profit on a video card can be done on a service such as CoinWarz. The site provides online calculators for dozens of different cryptocurrencies, both popular and rare. First you need to select a coin to go to the service functionality. For calculations you will need to indicate:
- Total hashrate of the equipment.
- Total power consumption in watts.
- Cost of equipment in dollars. Not only the main computing equipment is considered, but also auxiliary equipment, such as power supplies, etc.
- Use the sliders to select your electricity costs and additional fees (pool fee or service fee).
Then click Calculate Mining Profit. The service allows you to calculate ROI, that is, return on investment - over what period of time the investment in hardware will be recouped. Calculates how much cryptocurrency you can mine per day at the current difficulty, and how much profit this will bring (based on the market rate of the coin). It also gives an income forecast for a week, month, year.
4️⃣ CryptoCompare
Official website ⇨ https://www.cryptocompare.com
To find out exactly how much your ASIC or video card farm mines, it is better to use a calculator. CryptoCompare allows you to calculate the profitability of several top cryptocurrencies: BTC, ETH, ETC, XMR, ZEC, DASH, LTC. The user is required to enter a minimum of information; information such as the coin exchange rate or network complexity is taken into account by the service automatically. How to use the calculator:
- Enter the equipment hashrate in h/s, kh/s, mh/s, gh/s or th/s. This is the number of hashes per second that devices can produce during the mining process.
- Enter power consumption. You can calculate it yourself based on data provided by manufacturers, or use special sites such as Outervision https://outervision.com/power-supply-calculator/
- Enter the cost of electricity - how much you pay per kWh. This is a very important indicator for profitability.
When you enter any information, the results on the right are recalculated automatically, which is very convenient - you can experiment without reloading the page each time. It should be remembered that profit is calculated based on the current exchange rate and mining difficulty, and if these indicators change, then the result may become completely different.
5️⃣ Minerstat
Official website ⇨ https://minerstat.com
The MinerStat website includes many tools for monitoring and managing mining, including a profitability calculator. The reward is calculated taking into account the current difficulty, the volume of the block reward and the market rate. The listed data is collected from official sources and API pools.
The calculator supports several dozen mining algorithms, from common to more rare ones. There is a Profit switch option, with which you can set up automatic switching between coins based on the specified indicators. The function works for any equipment.
The calculation results take into account more than 250 different coins. They are assigned certain tags, for example, the low volume tag means that the coin will be difficult to sell on the exchange due to the fact that its daily trading turnover is less than $1000. The spike tag means that since the last data update, the relevance of the cryptocurrency has jumped sharply.
6️⃣BTC.com
Official website ⇨ https://btc.com
This mining profitability calculator is provided by the BTC.com pool. The service is focused specifically on Bitcoin and allows you to specify the cost of equipment to calculate the return on investment. Profits can be displayed in dollars or yuan. It should be remembered that this calculator is only suitable for the PPS mode of reward distribution in the pool.
Input data for calculation:
- Miner cost.
- Number of miners.
- Total hashrate from all devices.
- Total energy consumption in Watts.
- Cost per kilowatt of electricity.
- Bitcoin rate and difficulty (adjusted automatically).
- Pool commission.
- Mining start and end dates, if you want to know whether the equipment will pay for itself within a given period of time.
After clicking the “Calculate” button, the expected income will be displayed on the right side of the window - the total amount of revenue and profit, electricity costs, payback period for the equipment (if the period is longer than indicated in the initial data, the Cannot Payback mark will appear, that is, the equipment cannot pay for itself During this time).
7️⃣ Etherscan
Official website ⇨ https://etherscan.io
Etherscan is a set of tools for analyzing and tracking changes in the Ethereum network and also includes an Ether mining calculator. This service displays expected earnings in both ETH and USD. Calculations are based on the assumption that complexity and price remain the same as now. Also, the process does not take into account rewards for Uncle blocks (“orphaned” blocks that do not have a predecessor in the network). Data you will need to provide:
- Hashrate in mh/s.
- Energy consumption in watts.
- Cost per kilowatt of energy in dollars.
The remaining data is entered automatically. After clicking the Calculate button, the estimated income per hour, day, week, month will be displayed below. It will also calculate how long it will take you to find a block (relevant only for solo mining).
8️⃣AsicMinerValue
Official website ⇨ https://www.asicminervalue.com
The resource allows you to track the profitability of ASICs and ranks them based on this indicator. If you scroll to the very bottom of the page, you can specify your parameters: the cost of electricity and the currency for displaying profitability. After clicking the Apply button, the result will be recalculated based on the specified data.
The default currency is USD and the electricity price is $0.12.
9️⃣ 2CryptoCalc
Official website ⇨ https://2cryptocalc.com
The 2CryptoCalc service calculates the profitability for video cards from AMD and Nvidia; you can specify the hashrate separately. We give first place to ease of use: select the video card model, indicate the quantity, and the calculator shows which cryptocurrency will be most profitable to mine.
Standard calculations are done for 300 1050 Ti cards.
On the page about 2070, you can indicate the purchase price of a video card in order to calculate the payback and select the most profitable cryptocurrency. The site will indicate the hashrate for each mining algorithm available to the video card and calculate the payback period of the video card.
In the screenshot above, at a cost of $460, 2070 will pay for itself in 12 months if you mine the Cortex cryptocurrency. Supports recording electricity prices in thousandths 0.0001 format
1️⃣0️⃣ Crypto-Coinz
Official website ⇨ https://www.crypto-coinz.net
The calculator from Crypto-Coinz has a convenient and practical interface - you can sort cryptocurrencies by prices on the exchange right before calculating profitability.
Each coin comes with a recommended mining pool and block explorer.
NiceHash
NiceHash is a service that provides cloud mining services and has its own calculator. The platform is an online marketplace that allows you to buy and sell hash power. This service is ideal for people who want to participate in mining but cannot afford to buy equipment.
The buyer can choose which cryptocurrency to mine with NiceHash, which supports 34 different algorithms. All payments are made in Bitcoins.
Before mining, you can use the free NiceHash mining calculator. To do this, add the type of equipment you have and your energy costs. NiceHash also allows you to find out how much profit you can make within a certain period of time.
In addition, NiceHash shows equipment that allows you to earn more. The profitability of available equipment may vary depending on the volatility of the cryptocurrency market.
What is a mining calculator and how to use it?
The mining calculator is a tool for calculating the profitability of a farm. The number of mined coins is calculated “in theory” - the calculator takes the current difficulty of mining cryptocurrency and estimates how much the card can mine per day.
To calculate the profitability of mining a crypto farm, calculators use the performance of various algorithms and produce a list of the crypto that will be most profitable to mine “for today.”
Calculators for calculating farm profitability cannot predict the cryptocurrency rate and serve as a reference tool rather than as an accurate indication of the amount of profit. If you do not understand cryptocurrency trends, then always conduct an investment investigation before mining.
How to use a mining calculator.
Any of the presented calculators obeys the following algorithm:
- Select the video card model and indicate the number of cards available;
- An alternative to the first point: indicate the exact hashrate of the card;
- Indicate the cost of electricity and the nominal consumption of the video card, for example 150, 200 or 300 Watts;
- Optional: specify the mining pool commission to deduct commissions from the final calculation.
- Click “Calculalte”, after which the calculator will display either a list of coins that will be profitable to mine, or will calculate the profitability for one specific coin.
Frequently asked questions (FAQ)
1) What determines the profitability of mining?
From the number and hashrate of video cards used, the cost of electricity and the exchange rate of the cryptocurrency itself. It is not recommended to mine tokens with a wide range of rates. For profitable mining, preference should be given to tokens with a rate deviation within 15% over three months.
2) How to calculate the mining payback?
Use mining calculators. They calculate the profitability of mining based on the hashrate of the card, the price of electricity and the current value of the cryptocurrency.
3) Which video card is the most profitable for mining?
The popular versions 1060, 1050 Ti, 1070 Ti and the red RX 400 - 500 are optimally tested for mining. There are manuals for them, they can be bought for almost a third of the cost on the used market or from the miners themselves. Choose a video card with more than 4GB of video memory if you are thinking of mining Ethereum.
Basic terms in mining calculators
Hashrate
— the speed at which a video card, processor or ASIC mines cryptocurrency. The profitability of mining is calculated based on measured and previously known hashrate indicators from the calculator database. Exact values may vary.
To find out the exact hashrate of the equipment, you will need to launch the mining software and conduct a test run. After launch, the miner’s client will conduct a trial test and determine at what speed a particular video card-processor-motherboard assembly can mine.
Electricity price
— a region-sensitive indicator that allows you to calculate how profitable production will be if you subtract the price for resource consumption. Not all mining calculators support electricity prices in the CIS. For example, when calculating for Ukraine, the price per kW is 1 UAH 98 kopecks, or 0.068 cents - the calculator may not accept this recording format and produce erroneous values.
Equipment price
— calculators 2cryptocalc and CoinWarz take into account the cost at which the video card was purchased in order to calculate how much it can pay for itself. The figure will be "theoretical", but it is a good starting point for calculation.
BTC.com
BTC.com is a good mining profitability calculator developed by the famous mining pool BTC.com. Unfortunately, the calculator can only calculate the profitability of ASIC miners and their payback.
If you have built a farm based on ASICs, then on BTC.com we enter the cost of one device, what hashrate it produces, of course, energy consumption and electricity tariff. After this you will receive all the information: revenue, net profit, payback, etc.
Calculation of payback and profitability of mining farms
Let's look at an example of how to calculate the profitability of a farm with video cards, ASICs, or cryptocurrency mining on a processor.
The first thing to do before carrying out the calculation is to update the drivers. Graphics card developers know that their hardware is used for mining. To ensure that hardware performance remains relevant with the advent of new technologies, drivers are released.
The importance of drivers in mining is to increase the hashrate of a video card by optimizing executable libraries. Typically, the increase in a gaming environment can range from 2 to 12 FPS, which is also true for hashrate.
Link to the center for updating Nvidia and AMD drivers: indicate your device and click “Search” or “Submit”.
Calculation of profitability on AMD and Nvidia video cards
The hashrates of video cards are known, calculated and uploaded to databases. In order to calculate the profitability of a video card in mining in 2022, you won’t need any particularly complex actions.
The first three calculators from the Top 10 can automatically calculate the hash of a video card based on open data. NiceHash has a client for testing software for mining speed, which only works on Windows x64. Click “Autodetect my Hardware” and the website
How to calculate the payback period for mining a farm using ASIC miners
As in the previous case with calculating the cost for video cards, you can download a client for auto-analysis, or indicate the hashrate from ASIC in the “Hashrate” field of the calculator.
The Asikov hashrate is usually indicated by the manufacturers themselves in the documentation for the equipment. The answer is encrypted in the name, for example, “Antminer Z15 420ksol/s Equihash miner” will produce 420,000 KiloSolutions per second using the Equihash algorithm, and these are BTCP, ZEN, KMD, ZEC and BTG. ASICs only work with one algorithm at a time, and ASICs for SHA cannot cope with Ethash.
How to calculate the payback period of mining on a CPU
It is not recommended as a form in any form, but for the sake of academic objectivity, we will consider how to calculate the payback of mining on a processor.
On the sites Crypto-Coinz and NiceHash, you can choose a processor model for which the hashrate has been calculated in advance and select the most profitable cryptocurrency.
We calculate the profitability of a single cryptocurrency
You can calculate the profitability of an individual cryptocurrency on the CryptoCompare website (link above), where there are calculators for several cryptocurrencies. You can get calculations for BTC, ETH, ETC, XMR, ZEC, DASH and LTC.
The calculator is used according to the usual scheme: indicate Hashing Power, Power Consumption, Cost per KWh and Pool Fee.
Advantages
Using the megahash calculator does not cause any difficulties, and the calculation itself takes no more than 1-2 minutes.
The advantages of the program are obvious:
- intuitive and simple interface;
- high speed and accuracy of calculations;
- the ability to calculate for different ASICs taking into account the current complexity;
- a huge selection of coins for which mining can be calculated;
- determination of payback time;
- availability of the two most popular algorithms.
Understanding the principles of operation of the calculator allows you to immediately begin calculating the payback of mining and make the right decision - is it worth spending money on an ASIC or not.
How to calculate mining profitability: tips for beginners
It makes no sense to start mining with zero knowledge in the field of cryptocurrency mining. If a future participant in this specific market has a minimum initial qualification, he will have to do the following:
Step one.
Delve into the theory of the process and understand its economic meaning. As in any other type of business, those who have the opportunity to invest large amounts of money have the advantage. Factors influencing the profitability of investing in cryptocurrency mining:
- electricity tariffs;
- the capabilities of the computer, in particular its video card;
- availability of special equipment;
- available system settings for an effective algorithm;
- the right pool.
It is currently not advisable to start mining in solo mode. Creating your own productive farm requires huge investments.
Step two.
It is necessary to select the type of cryptocurrency, that is, the specific coin to be mined. Options: Bitcoin, Ethereum, Litecoin, NEM, IOTA, Monero and a few more items. The criterion is the dynamics of changes in complexity and, of course, price. It should be remembered that the newer the currency, the easier it is to mine, and the less power is usually needed for this. The complexity of the work increases over time, and it is good if the choice is made before it reaches a critical level.
Step three
. Creating a wallet. It can be desktop, mobile or online. The choice of wallet type is most often determined by the terms of the service on which mining is performed.
Step four.
Determining the optimal pool. If you don’t have enough money to create your own farm, then the easiest way is to join the community of miners. The share of income depends on the contribution expressed by the productivity of the equipment. The determining factors are the following:
- commissions charged for a new block and withdrawal of funds;
- pool service capabilities (process control and obtaining additional information);
- multi- or single-currency;
- simplicity of organizational issues of entry;
- clarity of instructions.
It is not always possible to determine the best pool the first time, so you have to use trial and error.
Step five.
Purchasing a miner. This word refers not only to the person who mines cryptocurrency, but also to the software tool. There are several of them (Antmainer, Cgminer, Cudaminer, etc.), and each of them has a functional specialization.
Step six.
Software setup. After downloading and installing the mining program, it requires adjustment. The procedure is simple - you need to follow the instructions.
That's it, you can mine cryptocurrency.
The profitability of mining may fall due to unexpected losses
Cryptocurrency quotes depend on demand for them. The profitability of this business also depends on the activity of miners. There are also other risks in the electronic money market:
- Possibility of adoption of restrictive and prohibitive legislative acts by the state.
- Price dumps (sharp declines in quotes due to massive intervention).
- Obsolescence of existing computer technology and the emergence of new, more productive equipment.
- Technical problems related to power supply.
- Failure of technical means of mining.
How to determine whether a cryptocurrency is strong or weak?
Before you start mining one of the altcoins, you should familiarize yourself with the project team, roadmap, completed statements and current scandals.
- The team should have real people with photographs, names and, preferably, profiles on LinkedIN. When people in a photo look wooden, it’s a stock photo and a fake employee.
- The project must have a clear road map with fixed milestones in the development of the project. “Bring the project to large exchangers” is not a goal, it’s a statement, but “Implementing the PoS protocol in the Ethereum network” is a goal that can really be achieved.
- There should be announcements of achieved goals according to the project plan on social networks. If there are none, then there should be announcements about why it didn’t work out and what the project is doing next. Silence is a sign of a dead project.
- Social networks must have live people, and chats must have live commentators. If you go to a project chat, for example, in telegram, and there are no messages from the participants, this is a dead project or a scam.
- Availability of a community of any size. When a project has loyal users who stay in it for longer than three months, this is a good sign.
- The project must clearly communicate why it will be successful. Usually this idea is conveyed by Whitepaper or Lightpaper. If a project has a weak argument about achieving its goals, it is a scam or a stillborn project. An example of a weak argument: “Our new token is a stablecoin and its price will always be $1 after entering the exchange.” Any asset must be supported by something; if the source of reinforcement is unclear, then the project is weak.
- Beware of projects that appear out of nowhere and promise mountains of gold - even if their currency enters the market, there is no guarantee that it will be used.
- The absence of social networks, emails, concealment of project participants and activity reports indicates either poor communication or the scam of the project itself.
- Third-rate graphics - often a scam project is the personal endeavor of experts in their field. You can indirectly determine whether a project is a scam by the savings on graphics and content: if they are a large project, then why didn’t they have enough funds for specialists?
A sign of good form in a crypto project is examples of use, technical documentation and manuals for creating software for working with a token, service or project as a whole.
Bottom line. Optimal choice
Having studied the offers of various companies and calculated what kind of income can be obtained from cloud mining, it becomes clear that there is no big difference in the mined cryptocurrencies. It is a little more profitable to invest in Bitcoin mining. For beginners who want to understand the features of cloud mining, it is recommended to try purchasing a contract for a minimum amount. After familiarizing yourself with the algorithm of the service, you can move on to investing more significant amounts.
Companies that rent out computing power provide users with the opportunity to try cryptocurrency mining without significant investments in equipment, for example, GPU video card farms. Placing data centers in places with cheap electricity adds competitiveness to such services. Many companies allow you to independently select and configure contracts, and a convenient internal calculator will allow you to calculate the profitability of cloud mining.
Based on preliminary calculations, the highest monthly income for bitcoin mining contracts is from the Minebe service, it is 23% when concluding a lease for 360 days. The fastest payback period for bitcoin contracts is on the HashFlare service, this is due to the possibility of reinvesting income.
If the user does not intend to reinvest the profits, it is recommended to withdraw the money earned to personal wallets or bank cards, rather than storing funds on cryptocurrency exchanges or cloud mining services.
