Bitcoin exploded in popularity in 2018, and many websites started to launch and offer tools. This led to the popularity of Bitcoin mining calculators. With that said, we've researched calculators and have created a short list of the best ones.
Calculators For Beginners
When you're mining Bitcoins, but you're a newbie, then things can become overwhelming very fast. There is a lot of info out there and many factors that play a role in the profitability of mining. Some calculators are simpler than others, and this includes:
CryptoCompare- When you search Google for Bitcoin Mining Calculator, the first one that pops up is this one. There's a reason why, and that's because you can customize the hash-power, cost per KWh and power consumption, as well as the mining pool fee. You can estimate what your yearly income will be, as well as monthly, weekly or even daily. It doesn't take into account potential difficulty changes that may occur in the future, so it may provide you with over-estimates of profits.
Anything Crypto- We have a page dedicated to showing you profitability of different ASIC miners. This includes skeptical and optimistic predictions, and we take difficulty changes and price changes into consideration.
Best Calculators For Customization
After you've been mining Bitcoin for awhile, you'll want to customize your potential profits for the future, which means you want to use calculators that provide you with customization options. The best ones that do this are:
CoinWarz- They have a calculator that is a lot like CryptoCompare, but you can customize things such as Bitcoin's price in US Dollars, difficulty, block reward and hardware costs. You can also base calculations on what your personal views on Bitcoin's price and difficulty (future) are.
99Bitcoins- One of the only main differences between 99Bitcoins and CoinWarz is 99Bitcoins doesn't allow you to default some of the values. This may actually be useful to you, but you could end up forgetting to change a default value.
The Best Calculator For Future Predictions
The calculators we listed above are for various calculators, but now we want to focus more on predicting future income. We do this by taking into consideration both price changes and difficulty changes that a calculator can simulate what could happen in the future. CoinWarz, for example, can be used to figure out what the price and difficultly will be over the course of the next year. However, below are a few calculators that can help:
My Crypto Buddy- This calculator allows you to customize in a way that's similar to what 99Bitcoins and CoinWarz allows you to do. However, MCB lets you input both difficulty and price changes. Not only that, but you can access a chart that shows your potential future income based on the data you inputted.
Our Mining Calculator- Ours works kind of like My Crypto Buddy, but it pre-populates the difficulties and the price with skeptical values. This provides you with a faster analysis, but it's not as customizable. You'll also be able to compare various mining hardware quickly and all on a single page.
NiceHash- They have a great calculator that can be used to check on specific mining hardware, and you can see the profitability for the last month, if NiceHash is where you've used that hardware. Instead of predicting, the calculator is aimed at back-testing profitability.
The BEST Bitcoin Mining Profitability Calculator