A quick guide explaining how to use the Advanced Options in our new Cost to Mine 1 BTC calculator and where to find data on all the popular hardware models.
Although there are dozens of variables that can impact a Bitcoin mining operation’s bottom line, the viability of a mining business can ultimately be determined with just one simple statistic: the cost to mine 1 BTC — aka the “Cost of Production for Bitcoin.”
The Braiins Cost to Mine 1 BTC calculator is meant to make it quick and easy for you to determine your cost of production for any ASIC hardware model or even for a mix of different hardware devices. By comparing your cost of production with the actual Bitcoin price, you can see your profit margin and better understand which hardware models will best suit your mining operation.
Let’s start by quickly explaining each of the inputs and how they work.
Alternatively, you can select the Custom option to input your own hashrate and power consumption values rather than using preloaded values from the ASIC database, which is best if you use a performance boosting firmware like Braiins OS+ to improve your device’s efficiency.
If you toggle on the Advanced Options, you’ll also see these inputs:
To give you an example of how this tool can be used, we’ll compare a stock Antminer S9 with a custom S9 running Braiins OS+ autotuning firmware.
You can see that improving the efficiency of the S9 by running Braiins OS+ firmware brings the cost to mine 1 BTC down from $9293 to $7787 and the break-even electricity price from $0.043 to $0.052 per kWh. The S9 on stock firmware has a 2% pool fee, while the S9 on Braiins OS+ has a 2% devfee but 0% pool fees on Slush Pool. In other words, the same machine with essentially the same external conditions was made significantly more economical by upgrading the firmware.
If you think this tool can be useful to others in the mining industry, please share it! The Share button right above the chart allows you to share a URL with all of your user inputs, or you can select the embed option and embed an iframe of the tool in English, Russian, Spanish, Farsi, or Chinese.
This is also just the first of many tools and stats for Bitcoin miners that we will be releasing in Braiins Mining Insights over the following months, so check back soon to see what else we’re publishing!
Operators of Slush Pool. Creators of Braiins OS+ autotuning firmware & a fully open-source mining stack: Braiins OS + BOSminer + Stratum V2.
Industry leaders in transparency and innovation, with more than 1.25 million BTC mined since 2010.
Increase hashrate on S9s to 17+ TH/s, improve efficiency as much as 20%, and get 50% lower pool fees on Slush Pool
Cutting-edge firmware with an implementation of Stratum V2 and mining software written from scratch in Rust language.
Quality improvements including reduced data loads, empty block elimination, hashrate hijacking prevention, and more.