How to calculate your income from Bitcoin cloud mining?

Your income from Bitcoin cloud mining in BTC depends on two basic factors:

• Bitcoin price (cryptocurrency is very volatile and its price changes are frequently unpredictable);
• Bitcoin mining difficulty (this metric changes every two weeks depending on network hashrate).

Your income in dollars also depends on Bitcoin price and how you manage your coins. For example, you can convert your income in USD on a daily or a monthly basis. In the second case, you will receive more money if Bitcoin price will go up at that time.

We prefer transparency for our clients so they calculate their income on their own by using third-party services. In this tutorial we will use CryptoCompare, it has simple Bitcoin mining calculator. But you can also use WhatToMine as a good alternative.

The approximated revenue estimation process is very simple, just follow these steps (We made it with BTC price at 1BTC = 11850$):

Step 1. Hashmart provides two types of contracts — 12 month and open-ended. Let’s choose the first one as an example. Let’s say, you had already bought one contract for 500 dollars. At this price, you get 5814 Gh/s of hashrate.

Step 2. Open CryptoCompare.com. Choose Bitcoin mining calculator from the highlighted menu below.

Step 3. Enter your hashing power rate in the first field. Set all other fields with “0”. All other costs are already covered in your contract;

In this case, your estimated profit per month will be $52.29. If BTC price will be stable for almost one year (it is nearly impossible) $500 Bitcoin cloud mining contract will pay off in 9 months. The higher the price goes, the more money you get.

Step 4. Now let’s calculate your possible income from an open-ended mining contract. To make things simple, let’s assume you had already bought another contract for 500 dollars. At this price, you get 5102 Gh/s of hashrate.

Step 5. Again enter your hashing power rate in the first field. CryptoCompare will calculate your estimated income without maintenance fees.

To calculate it multiply fixed daily maintenance fee by the amount of hashrate purchased. In this case, it will be $0.13 by 5.102 TH/s (approximately $0.66 per day).

Your final income can be calculated by subtracting maintenance fees from the numbers received. As of today, we charge $0.13 Th/day. This means that 5102 Gh/s mining contract will cost you an additional $19.9 per month.

Enjoy easy Bitcoin mining with Hashmart.io!