Bitcoin Mining Profitability Calculator

Mining profitability is determined by comparing your mining revenue (how much BTC you earn based on your hashrate relative to the total network) against your electricity costs. The formula uses your hashrate, the current network difficulty, block reward (currently 3.125 BTC after the April 2024 halving), and the current Bitcoin price to estimate daily earnings. Then your electricity cost (power consumption in watts multiplied by hours and your rate per kWh) is subtracted to determine net profit. Keep in mind that difficulty adjusts roughly every two weeks, and BTC price is constantly changing, so profitability is a moving target.

The break-even electricity rate varies by hardware. Newer, more efficient miners like the Antminer S21 (17.5 J/TH) can be profitable at much higher electricity rates than older models like the S9 (96.4 J/TH). In Canada, Quebec hydropower offers some of the lowest rates in North America at around $0.06 CAD/kWh, making it ideal for mining. Use the “Break-Even Electricity” metric in our calculator above to see the maximum rate your specific setup can handle. Many home miners also offset costs by using their miner as a space heater, effectively reducing the net electricity cost.

In terms of expected value from pool payouts, a single Bitaxe earns very small daily BTC amounts. However, solo mining is a different game entirely — it is a lottery. With a Bitaxe connected to a solo mining pool, you have a small but real chance of finding an entire block and earning the full 3.125 BTC reward (~$300,000+ at current prices). Many Bitaxe miners view it as a fun, educational hobby that supports network decentralization and heats a small space. It is not about ROI in the traditional sense — it is about participating in Bitcoin’s security and hoping for a lucky block. Learn more at our Bitaxe Hub.

Network difficulty adjusts approximately every 2,016 blocks (roughly every 14 days) to maintain the target block time of 10 minutes. When more miners join the network (hashrate increases), difficulty goes up, reducing everyone’s revenue per TH/s. When miners leave, difficulty drops and revenue per TH/s increases. Historically, difficulty has trended upward as more powerful hardware enters the market. This calculator uses the current difficulty, but remember that future difficulty changes will impact your long-term projections. More efficient hardware gives you a wider margin to stay profitable as difficulty climbs.

Yes, for a complete financial picture you should consider your hardware purchase price. This calculator shows ongoing operational profitability (revenue minus electricity), which helps you understand your cash flow. To calculate your full ROI, take your monthly net profit from this calculator and divide your hardware cost by that amount to get your payback period in months. For example, if a Bitaxe Hex costs $400 and earns $15/month in net profit, your payback period would be approximately 27 months. Browse our hardware lineup to compare options and plan your investment.