However, Ethereum’s biggest year came in 2017-18 when the currency bounced from $7.9 to a high of over $1,370 in mid-January 2018. In 2016, Ethereum’s price went from $0.9 to $19.93 - and the currency closed the year at $7.9. While it may appear more ‘stable’ compared to Bitcoin in terms of its price rise and falls - Ether has had its fair share of ups and downs in the past. Ethereum, which is the second largest cryptocurrency in the markets by market capitalization, is no stranger to price volatility. One of the biggest factors that make or break any cryptocurrency mining operation is the price of the cryptocurrency being mined. Let us take a detailed look at the dynamic and ever-changing price of Ether.Īlso, you can see how much profit you would have made if you had invested in Ethereum in past: Ethereum Profit Calculator. However, the biggest factor that makes or breaks your mining setup: the price of Ethereum. To sum it up - our Ethereum mining calculator keeps into account multiple dynamic factors which miners need to consider while mining for Ether. Considering that cryptocurrencies are highly dynamic and much of the factors keep changing on a regular basis - such as the difficulty levels and the price, miners need to constantly monitor their profitability using our mining calculator. While it seems like our Ethereum mining calculator is a great tool for those who are about to set foot in the world of Ethereum mining, it is also a critical tool for those who are already mining. Tools like our Ethereum mining calculator help the miners determine their profitability beforehand.īasically, using our Ethereum mining calculators, aspiring miners can check if their mining venture is profitable at all - and if so, when will it start bearing them the appropriate amount of profits, helping them plan in advance about their mining strategy. Mining today has become quite an entrepreneurial venture - almost like a startup. While cryptocurrency miners help verify the transactions on the blockchain - the biggest incentive to do so is the rewards that they get in the form of cryptocurrencies. Miners need to calculate every aspect of the risk that they are taking before starting off with the activity. Why should one use Ethereum Mining Calculator before setting up mining farm or rig?Ĭryptocurrency mining is not an easy decision to make. Once you have entered all the appropriate information in the boxes, just click on ‘Calculate’ and you will then be able to see in detail all the relevant statistics along with the proper breakdown of how many currencies have you mined and how much are you paying in power and pool fees, as well as your final profit (or loss) in USD. The higher this price is, the more profits you make. It is based on these calculations that a more accurate figure can be determined.įinally, the most important number of them all: the price of ETH in USD. Difficulty levels are on a constant rise - and block rewards continue to decline on a periodic basis. This is considered here to give you a more accurate profit figure.ĭifficulty per block and Block rewards are another essential factors that are considered before the final profits are determined. Almost all miners tend to mine on cryptocurrency pools and pools charge a small percentage as pool fees while giving out the mining rewards. Our Ethereum mining calculator also keeps into consideration the cost that is spent as pool fees. With ASIC devices now being introduced for Ethereum mining, hash rates are rising. The higher this number is, the faster you will be able to mine for currencies. Hash Rate, which is measured in MegaHash per Second (MH/s) or even GigaHash per second (GH/s) is important. The Hash Rate of your mining device is also critical. This gives a proper estimate of the amount that you will be spending on the electricity bills during the mining operation which would then be deducted from your final profit. The cost per unit that you spend on electricity is then considered. Ethereum mining is an activity which requires a significant amount of power and hence it is essential to consider this. This amount is measured in Watts and is used to determine the cost of your mining operation. The amount of electricity that is required by your mining device is considered. Here are the factors that are considered: The calculator considers various factors to derive these figures. This mining calculator helps you predict the exact amount of profit you would make on a periodic basis - be it hourly, daily, weekly, monthly or yearly. Our Ethereum mining calculator is the perfect tool for all cryptocurrency miners looking forward to mine for Ether (ETH). How Does Our Ethereum Mining Calculator Work?
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