Post
Topic
Board Mining speculation
Network difficulty up, mining profits down by 15% in 24h – Will it recover?
by
Phycodurus
on 18/12/2017, 20:46:31 UTC
Hello everyone!

I'm considering setting up a Bitcoin farm in Europe.

I've done an extensive supplier research and I'm considering DragonMint 16Ts for my setting.

I've used this calculator to make my numbers: https://www.antpool.com/support.htm?m=calculator

The problem is that as network difficulty increases, profits decrease radically. Here are 2 tests I ran for 50 of such miners yesterday and today:

Dec. 17, 2017:
  • Hash power: 800TH/s
  • Network difficulty: 1,590,896,927,258
  • Mining pool fee: 1.50%
  • Gross profit: 3.73653713125166 BTC

Dec. 18, 2017:
  • Hash power: 800TH/s
  • Network difficulty: 1,873,105,475,221
  • Mining pool fee: 1.50%
  • Gross profit: 3.17357750705357 BTC

Perhaps I'm doing something wrong, but considering next available batch of DragonMints will be delivered in April, I probably won't be mining a single monthly Bitcoin by then.

Looking at the formula, it seems to work like this: X * NETDIFF * POOLFEE * HASH = BTC

I understand the difficulty has gone up, but X has gone down (from 1.9572487E-13 to 1.4119055E-13), and I don't know how are they coming up wth that coefficient or if that can change for the better over time.

Could anyone point out what I'm doing wrong, or if that's how things are going be?

Thanks in advance!

Cheers