INTRODUCTION
Once you start mining, you may be concerned about the profit: How much profit can I get? How does my contract generate the profit? Why the actual profit is different from the estimated one?
There are many questions need to be handled, how about scrolling and finding out those answers below? Let's read it!
Mining Revenue V.S. Mining Profit
It is essential to distinguish four vital phrases about profit. Let's start with two formulas:
*We have discussed about the electricity fee in beginner's guidelines and electricity fee pack. If you are curious about it, click and read any of them.
From the above, the four phrases are into our sight, Estimated mining revenue, Estimated mining profit, Actual mining revenue and Actual mining profit. You might get confused about them. Let's check them one by one.
Estimated mining revenue is to estimate the amount of crypto, referring the recent hash rate and the mining difficulty in the whole network.
Generally, as the formula above, estimated mining profit could be the rest deducted electricity fee.
But why is the estimate mining profit different from the actual profit we got?
Affected by several objective factors, the luck of mining pool, the electricity supply of mining farm, the stability of network, the working status of mining rigs and so on, the actual mining revenue can be different from the estimation. And the final actual mining profit you get will be deducted the electricity fee.
After learning about the above, you may be curious and concerned about how to check and calculate the your mining profit in OXBTC.
How to check the profit?
There is another phrase about the profit shown in contract details page, the Estimated Daily Profits.
From the above formula, the estimated daily profit equals the estimated mining profit multiple the quantity hash rate:
Look at the below chart, it is based on the recent network of hash rate and mining difficulty.
It can be also checked on the main contract page. Please note that the estimated daily mining profit is calculated in 1 TH/s.
How to calculate the profit?
What's more, if you want to calculate the estimated daily/weekly/annually mining profit, you can check the profit calculator.
Select the contract you prefer to check and enter the amount of hash rate, then you can figure out its estimated mining profit. It is fluctuant based on the current crypto price and the current mining difficulty.
Tip: the profit calculator is only for reference, the actual mining profit depends on actual situation.
The Length of Payback Cycle
Now you may curious about the Payback Cycle.
How to calculate the payback cycle? and How long can I payback for my investment? are of concern to most of miners.
As mentioned before, mining profits are affected by market price and mining difficulty. The length of payback cycle depends on the period of the actual profit you got exceeds your investment. The profit exceeds its investment sooner, the length of payback cycle is shorter.
If you are curious about yield rate, check the contract details.
*Before investing, everyone should take care of calculating the estimated payback cycle and assess the investment risk.
Closing thoughts
With the crypto world developing and evolving, the chance to get mining profit at a lower cost attracts the public and bring more entrances. Take some time to enrich cryptocurrency knowledge is a good way of leading to more informed decisions through reducing overall investment risk. More exploration about crypto world, why not entering the OXBTC Academy and find more answers in FAQs?
