Bitcoin mining can be lucrative, that is why many people are rushing to do it now. Because of the increasing number of miners, mining profitability has also become more difficult over time. Therefore if you intend to mine profitably, you need to be sure you’re going to profit from the venture, even before you start.
Before now, there was no way to tell, but that has changed. You can now use crypto mining profitability calculators to project your income from the very start. Using data, you can estimate the future profit and revenue to expect in a defined period from a cryptocurrency mining device of specified computing power, efficiency, power cost, and power consumption.
In fact, they are a basic requirement if you wish to do well in your Bitcoin mining business. There are many of them out there, but here are five of the best crypto mining profitability calculators you can use.
WhatToMine
WhatToMine is an advanced Bitcoin mining profitability calculator that allows you to calculate estimated mining revenues and profitability. You can do this for a single mining GPU or a mining rig with many GPU cards of the same or different types, and those for ASIC cards.
With it, you can determine the most profitable algorithm to mine altcoins with for any ASIC and GPU by comparing estimated profitability and revenues among the GPUs and ASIC algorithms.
You can compare mining profitability of altcoins to Bitcoin by calculating the hourly, daily, 3-day, and 7-day mining profitability and revenues for each algorithm on a GPU and ASICs.
It also determines the best cryptocurrencies to mine based on current market prices and can tell you which cryptocurrencies you can easily mine.
NiceHash
Nicehash is a cloud mining platform that doubles as a mining profitability calculator. This makes sense because it has millions of clients subscribed and pieces of mining equipment connected from around the world.
The calculator allows you to compare output revenue and profitability between two or multiple crypto-mining devices or simply determine outputs for one device.
There’s also a feature that automatically detects and fills in information on any equipment, including hash rate, power consumption, and others. You’ll be able to decide on the best equipment to use based on the data provided.
CoinWarz
This mining calculator can project daily mining profitability for any given custom hash rate, power consumption, and electricity costs all inputted together. It also auto-fills details such as hash rate, power consumption etc. for any mining equipment you select from the ones listed on the website.
This makes it very easy to calculate your expected daily profitability. You can also use it to check recent data on mining difficulty, crypto price, block rewards, wattage, and costs, which it auto loads.
2CryptoCalc
This one is a more advanced crypto mining profitability calculator. You can use it to estimate 3h and daily profitability per algorithm per mining device model. You can also select any mining algorithm listed for the available devices and see the cryptocurrencies you can mine with each algorithm per device as well as the 24hr mining profitability per each of these cryptocurrencies.
This allows you to make informed decisions on what to mine and for how long. It also reveals the current difficulty and price and the percentage changes in both.
SimpleMining
SimpleMining derives data and information from the WhatToMine platform. It is a GPU crypto mining profitability calculator that provides daily and monthly revenue and profitability estimates for 72 Nvidia and AMD GPUs for any chosen power cost.
You’ll be able to see the hash rate and power consumption of every GPU as well as the profitability data. You can enter the number of GPUs per model for which you want to estimate profitability, but you cannot enter your own hash rate and power consumption data specific to your machines.
Conclusion
If you are serious about becoming a crypto miner, these are mining profitability calculators you should consider using to significantly boost your chances of profiting from your mining venture.
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