#Ordinals are hot, $BTC Miners are making money Let's do the math, is it a good time to invest in BTC mining machines? 1. How to calculate BTC mining income? 2. What is the mining income under the current difficulty? 3. Is it worth the investment?

1. How to calculate BTC mining income? Bitcoin mining revenue is related to mining difficulty, block rewards and gas fee income, mining machine computing power, and electricity costs. Mining difficulty is adjusted every 2016 blocks (about two weeks); The block reward is fixed every four years during the halving cycle. Currently, each block reward is 6.25 BTC, and the gas fee fluctuates depending on the transactions on the chain. Since the hash required for each block = block difficulty * 2^32⬇️ twitter.com/i/web/status/16605...

Therefore, the specific calculation formula for mining income is: Daily theoretical mining income = (mining machine computing power per second * 600/(mining difficulty * (2^32))) * (daily block reward + daily gas income) 2. What is the mining income under the current difficulty? According to the data of mempool, the current BTC network hash rate is 345.6EH/s, the mining difficulty is around 49.55T, and the total mining reward for the day is around 969 BTC A new Bitmain S19XP mining machine, ⬇️

The hash rate is 141TH/s, and the actual power consumption is about 3200W. Therefore, the daily theoretical mining income without electricity and mining pool pumping = (141*600/(49.55*4294967296))*969=0.000385 BTC, which is approximately equal to 0.000385 *26875=10.35U If the electricity fee is calculated at $0.079/kWh, the daily electricity fee is about 6.1U, and the mining pool pumping water is calculated at 1.5%, the daily net income is about 4.1U⬇️

3. Is it worth the investment? On http:/river.com, the price of a S19XP mining machine with a computing power of 141T is $4800. Looking at it this way, the static payback period is about 3.2 years. Some people may say that because it is a bear market now, the return cycle will be greatly reduced when the bull market comes. Then let's predict the situation after the next ten months. There are two main variables we need to predict: twitter.com/i/web/status/16605...

1. Mining difficulty ten months later; 2. Currency price ten months later. It can be seen from the historical mining difficulty that the difficulty does not increase linearly, and the growth rate has become significantly faster in recent years. ... twitter.com/i/web/status/16605...

If you continue to mine after the halving, assuming that some mining machines reach the shutdown price due to the halving, the difficulty drops by 20% to 55T, and the gas income remains unchanged. Let’s calculate the income again: Daily theoretical mining income after halving=(141*600/(55*4294967296))*518= 0.000185…

It can be seen that when the mining time is less than two years, the income from mining is not much different from that of directly holding coins, and it may not be as suitable as directly holding coins. If the mining time is more than two years, it may be more cost-effective than holding the currency directly, but the premise is that the mining machine needs to be changed hands at a high level or the currency price is at a high level for hedging to lock in the income. In short, there are many factors affecting the income of mining, and the above calculation is only based on the estimation of future mining difficulty and currency price

For reference only. But for long-term investment, you should try to make deterministic choices, right? Although the development of Ordinals has brought a lot of Gas fee income to miners, at present, the main part of mining revenue is still block rewards. With the successive arrival of the halving cycle and the development of the ecology on BTC, it is more and more likely to rely on gas to maintain the network in the future.