There is growing interest in Ethereum Mining.
And it is quite natural that every Ethereum Miner is interested in increasing the return and profitability of their efforts. An Ethereum mining calculator is an essential tool that will help you work this out.
Rather than purely focusing all efforts on your Ethereum Rig, Ethereum Cloud Mining Services or other hardware elements, it is important to think about all the other metrics that will impact earnings in both Ethers (ETH) and Dollars ($ / £ / €).
Of course no Ethereum Miner is interested in losing the value of the investment and efforts. In a given duration, say a day, week, month or years what are the estimated earning and profit is of paramount concern.
Ethereum Mining Calculator
We have already seen that there are quite a lot of variables in Ethereum Mining that can contribute or affect Ethereum profitability.
Over time Ethereum Mining difficulty is increasing as is the case with other cryptocurrencies. Mind here that the Ether conversion rate or vale of Ether is growing sometimes exponentially.
The Ethereum Mining Calculator and Profitability Calculator is used to know what we can expect to get with what we plan to do and if we alter the metrics what we can expect to get from Ethereum Mining.
So, it is most essential tool and calculation that every Ethereum Miner MUST have knowledge and details. Fix your goals, know what you are current metrics are, know how alterations can affect your profitability. All with Ethereum Mining Calculator.
Ethereum Mining Online Calculators
There are some online Ethereum Mining Calculators available which the miners can make use of readily. Also, when miners are going in for Ethereum Cloud Mining services, the service itself can be of help in providing quick information.
The following are some indicative Ethereum Mining Calculators to have a look at.
Ethereum Mining Hash Rate
Ethereum Miners can work as solo miner or in an ethereum mining pool. While working in a pool, there may be a pool fees and pool efficiency also matters in profitability.
See our comparison of mining pools Ethpool vs Ethermine
The key metric in calculation is mining power or hash rate. How powerful mining operation or how powerful our Ethereum rig can be, is all known by the main metric Hash Rate. A hash or hash rate is the output of a hash function which is the speed at which a compute is completing an operation.
As similar to computing processor clock cycles, hash rates also go as:
- 1 MH/s = 1,000 kH/s
- 1 GH/s = 1,000 MH/s
- 1 TH/s = 1,000 GH/s
Ethereum Mining Difficulty, TH
There are simple Ethereum Mining Calculators to advanced Ethereum Mining Calculators; depending on how many metrics they take it as inputs and how many inputs they assume as average given figure.
A simple Ethereum Mining calculator takes in to Hash Rate input assumes all other metrics including electric power consumption and rate and calculates ethers and dollar value.
An advanced calculator may take into more metrics than electric power in watts, power cost in kilowatt per hour, ethereum mining hardware cost, adding to block time, difficulty factor, network hash rate, exchange rate etc.,
Difficulty is usually expressed in TH unit and refers to the probability of finding the hash.
To make any money it is imperative that your mining is done as efficiently as possible.
Ethereum Mining Calculators come in handy as a compass to set the right direction and navigate our way towards mining profitability.