Before you start mining, first of all, you need to decide on the cryptocurrency, which is most profitable to mine on your equipment. You can do this through the advanced WhatToMine web calculator.
Using it, you can make detailed calculations of the potential level of mining profitability using different algorithms for Nvidia / AMD video cards or farms assembled from them, as well as ASICs.
What is WhatToMine
WhatToMine is the most popular web service for calculating the preliminary profitability of cryptocurrency mining. It has been working since spring 2014.
Today Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Dogecoin (DOGE), Grin (GRIN) and more than 300 altcoins on several dozens of hashing algorithms (SHA-256, Ethash, CryptoNight, Scrypt , CuckooCycle et al.) supports the calculation of the profitability of mining.
WhatToMine Official Website
To use the WhatToMine service, you do not need to register and create an account. All functions are available for each visitor of the calculator site.
Official WhatToMine website
When you first visit this web resource, an unprepared user will be slightly shocked by the load on the interface. However, this effect is inevitably present in all services related to mining. But on the other hand, pros in cryptocurrency mining will feel quite comfortable with WhatToMine.
In the upper left part of the site header there is a line with the current rates of BTC, Zcash, ETH, XMR, ETC, DASH and LTC. A bit to the right is the widget for subscribing to the Twitter project, as well as a button to switch the site interface to dark mode.
The next line contains the main menu with tabs, each of which is dedicated to a separate functionality of the WhatToMine calculator:
Calculator Features
WhatToMine Key Features:
- Detailed settings for calculating the profitability of production both by device and by individual coins;
- Always up-to-date data on the current hashrate of supported video card models and ASIC miners;
- The ability to edit the hashrate, power consumption, cost of electricity in the source data of the calculator;
- Profitability support for several dual mining options;
- There is a rating of the most productive cryptocurrency mining devices available today.
Another important nuance: after the calculations, the profit for each position is expressed immediately in two indicators — “Rev. $ "And" Profit ". The first is the amount of potential reward for 24 hours.The second is the estimated daily profit minus the cost of electricity.
How to Use WhatToMine
How to use WhatToMine:
- Choose the equipment that you plan to use for mining, and its quantity.
- Indicate the cost of electricity.
- Get data on the most profitable cryptocurrencies for mining.
Despite the visually loaded interface, using the WhatToMine profitability calculator is quite simple. All that is required of the user is to choose the appropriate subsection of the site and configure its functionality for your equipment.
How to Calculate Farm Income From Video Cards
Profitability calculation of a farm from graphic accelerators is performed in the “GPU” section of the WhatToMine website. At the same time, the user notes the models of video accelerators included in the rig and enters their number (in the 1st line of the AMD card, in the 2nd — Nvidia).
Next, you need to select the algorithms for calculation, if necessary, adjusting the default hash rate and power consumption.
Then, in the “Cost” field, you need to specify the cost of electricity and select the parameters of the calculation results in the adjacent drop-down menus. In addition, you can change the list of exchanges from which the cryptocurrency rate is taken. The last action is to click the Calculate button.
After that, a list of coins with data on their extraction by the indicated video cards will be displayed a little lower — time and reward for the block, complexity, course, capitalization and, of course, profitability (column “Rev. $ Profit”). The last column displays the profitability of the equipment in question for each cryptocurrency as a percentage compared to Ethereum mining.
As you can see, in the example in the screenshots by the farm of three Nvidia 1070i and three 1080i cards for the selected 9 hashing algorithms, it is most profitable to mine Zcoin (XZC), Ethereum (ETH) and Ethereum Classic (ETC).
How to Calculate Farm Profitability From ASIC
To calculate the profitability of ASIC devices in the WhatToMine calculator, go to the tab of the same name. Unlike the previous tool, you cannot select specific equipment models here. The default hash specified for the SHA-256 algorithm corresponds to the Antminer S17 ASIC, and for all the others, the device productivity values are selected, which are equivalent in cost.
Therefore, if you need to calculate the profitability of mining on any other ASIC, you must manually enter the hash rate and power for each algorithm. It can be viewed on the same site in the “Miners” tab.
If we are talking about using a farm of several ASICs, all the parameters need to be multiplied by their number or summed if the devices are of different models. The remaining settings are made in the same way as described in the section on the calculator for the GPU.
The table with the results of profitability calculations is also similar. The only difference is that in the role of the main cryptocurrency with which the comparison is made, BTC acts here.
How to Calculate Mining Income for a Particular Cryptocurrency
In order to calculate the profitability of mining on a specific coin using the WhatToMine calculator, you need to go to the “Coins” tab, where all supported options are presented.
After selecting one of the cryptocurrencies, a window opens with its detailed description and fields for manually entering data for calculation — the hashrate, capacity and cost of existing equipment, as well as electricity prices and the fees of the used mining pool. The remaining parameters can not be changed, they are pulled automatically.
After clicking on the “Calculate” button, a table appears with the distribution of data on the mining profitability of the selected coin for different time periods.
How to Calculate Mining Profitability in Dual
The tool for determining the profitability of dual mining on the WhatToMine website is similar to the previous one. That is, first you need to select 1 out of 9 options offered in the "ETH +" drop-down menu, for example ETH + SC. Then for each coin we enter the hash value corresponding to the equipment used, and the pool commission.
The indicators of energy consumption and cost of kW are introduced general, since we are talking about mining in dual on the same device. Profitability results are displayed for each coin and, in general, minus expenses.
As you can see, using the WhatToMine calculator, you can calculate the mining profitability in a rather detailed way for many different combinations of hashing algorithms and the equipment used.
The main thing is to remember that all calculations are approximate, since cryptocurrency rates and the complexity of their networks are changing all the time. And that means hoping for the accuracy of long-term forecasts is still not worth it.
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