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Bitcoin mining profitability calculation

Calculates profitability of a Bitcoin mining operation today (February 25, 2017) using current difficult level, Bitcoin price and a state of the art Bitcoin miner.

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// Bitcoin mining profitability calculation

// Units of measure
[<Measure>] type USD
[<Measure>] type BTC
[<Measure>] type sec
[<Measure>] type hour
[<Measure>] type H
[<Measure>] type GH
[<Measure>] type Watt
[<Measure>] type KW

// Unit conversions
let hashesPerGH : float<H/GH> = 1000000000.0<H/GH>
let secondsPerHour : float<sec/hour> = 3600.0<sec/hour>
let wattsperKilowatt = 1000.0<Watt/KW>

// Specification of S9 Antminer
let unit_hash_power  = 13000.0<GH/sec> 
let unit_consumption = 1375.0<Watt>
let unit_cost = 
   2100.0<USD> // miner cost
  + 200.0<USD> // psu cost

let hash_rate =  unit_hash_power * hashesPerGH

// Difficulty is recalculated every 2016 blocks (~ 14 days)
let difficulty = 440779902287.0<H> 

// Block time solo mining
let block_time : float<hour> = difficulty * (2.0 ** 32.0) / (hash_rate * secondsPerHour)

// How many miners you need to mine 1 block per day
let number_of_miners = block_time / 24.0<hour>

// Is it profitable ?

let psu_efficiency = 0.97 // 97% 

let electricity_price = 0.12<USD/(KW*hour)>/wattsperKilowatt
let btc_price    = 1157.00<USD/BTC> // Bitcoin price
let block_reward = 12.5<BTC>

let daily_power_consumption = number_of_miners * unit_consumption * 24.0<hour> / psu_efficiency

let daily_electricity_cost = daily_power_consumption * electricity_price

let daily_profit = block_reward*btc_price - daily_electricity_cost

// Hardware cost.
let hardware_cost = unit_cost * number_of_miners

// Asuming it is profitable, daily_profit > 0.0<USD>
let months_to_roi = hardware_cost / (daily_profit * 30.0)

Multiple items
type MeasureAttribute =
inherit Attribute
new : unit -> MeasureAttribute

Full name: Microsoft.FSharp.Core.MeasureAttribute

--------------------
new : unit -> MeasureAttribute

[<Measure>]
type USD

Full name: Script.USD

[<Measure>]
type BTC

Full name: Script.BTC

[<Measure>]
type sec

Full name: Script.sec

[<Measure>]
type hour

Full name: Script.hour

[<Measure>]
type H

Full name: Script.H

[<Measure>]
type GH

Full name: Script.GH

[<Measure>]
type Watt

Full name: Script.Watt

[<Measure>]
type KW

Full name: Script.KW

val hashesPerGH : float<H/GH>

Full name: Script.hashesPerGH

Multiple items
val float : value:'T -> float (requires member op_Explicit)

Full name: Microsoft.FSharp.Core.Operators.float

--------------------
type float = System.Double

Full name: Microsoft.FSharp.Core.float

--------------------
type float<'Measure> = float

Full name: Microsoft.FSharp.Core.float<_>

val secondsPerHour : float<sec/hour>

Full name: Script.secondsPerHour

val wattsperKilowatt : float<Watt/KW>

Full name: Script.wattsperKilowatt

val unit_hash_power : float<GH/sec>

Full name: Script.unit_hash_power

val unit_consumption : float<Watt>

Full name: Script.unit_consumption

val unit_cost : float<USD>

Full name: Script.unit_cost

val hash_rate : float<H/sec>

Full name: Script.hash_rate

val difficulty : float<H>

Full name: Script.difficulty

val block_time : float<hour>

Full name: Script.block_time

val number_of_miners : float

Full name: Script.number_of_miners

val psu_efficiency : float

Full name: Script.psu_efficiency

val electricity_price : float<USD/(Watt hour)>

Full name: Script.electricity_price

val btc_price : float<USD/BTC>

Full name: Script.btc_price

val block_reward : float<BTC>

Full name: Script.block_reward

val daily_power_consumption : float<Watt hour>

Full name: Script.daily_power_consumption

val daily_electricity_cost : float<USD>

Full name: Script.daily_electricity_cost

val daily_profit : float<USD>

Full name: Script.daily_profit

val hardware_cost : float<USD>

Full name: Script.hardware_cost

val months_to_roi : float

Full name: Script.months_to_roi

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More information

Link:	http://fssnip.net/7Sh
Posted:	8 years ago
Author:	Ademar Gonzalez
Tags:	bitcoin , units of measure