Despite the constant change of laws and stricter regulations on Bitcoin mining in Iran, the activity continues to flourish. Many look at this matter with caution and some see it as a unique opportunity. However, there are many questions and uncertainties about Bitcoin mining income.
One of the important questions is about the profitability of mining. Now, how much is the income of Bitcoin mining? How true is the statement that “just turn on the mining machine and make a lot of money”? Is it possible to travel a hundred years with overnight bitcoin mining income? All these existing questions about mining made us determined to write an article about this topic.
How much is bitcoin mining income?
At the moment Bitcoin mining daily profit It is $35 per miner. Bitcoin mining monthly income With this formula, it will be around 1000 dollars. This means you will earn approximately $12,000 per year.
Note that these attractive numbers should not fool you. receive Mining license, electricity cost and providing right place For mining, your biggest challenges will be monetization.
Read more: Bitcoin mining tutorial
For more information, you can see the daily Bitcoin mining profit table. This table is prepared based on the price of exported electricity during hot days and the price of industrial electricity.
| extraction device (power) | Monthly income with industrial electricity | Monthly income with exported electricity |
|---|---|---|
| Bitmain Antminer S19 Pro (110Th) | 261 dollars (13.4 million tomans) | $177 (9.1 million Tomans) |
| Bitmain Antminer S19J (110Th) | $260 (13.4 million Tomans) | $158 (8.1 million Tomans) |
| Bitmain Antminer S19 XP | $333 (17.2 million Tomans) | 256 dollars (13.2 million tomans |
| MicroBT Whatsminer M30S++ 110T | 236 dollars (12.2 million tomans) | 149 dollars (7.7 million tomans) |
| Bitmain Antminer S17+ 76Th | $179 (9.2 million Tomans) | $101 (5.2 million Tomans) |
| MicroBT Whatsminer M53S+ | 715 dollars (36 million tomans) | 539 dollars (27.8 million tomans) |
| Ebang EBIT E10 3 | 54 dollars (2.8 million tomans) | it's bad |
| Ebang EBIT E9i Plus | 30 dollars (1.5 million tomans) | it's bad |
What factors does bitcoin mining income depend on?
- miner power (mining device) It is one of the most important factors in mining profit. The more power it has, the more profitable it is. The power of mining devices is displayed in hashes per second. For example, the processing power of the Antminer S19 Pro mining machine is about 110 Teraherashtraseconds (TH/S).
- Miner price It is also a very important factor; Because the rate of return on your investment also changes; For example, if you spend 100 million tomans to buy a miner that gives 30 million profit per month, your investment will return in 3 months.
- Bitcoin price is another important factor that you should keep in mind. Considering that miners receive their reward in the form of Bitcoin in exchange for participating in the network and mining, the price of Bitcoin will affect your profit.
- Today, miners around the world do not directly mine bitcoins themselves; Rather, they all connect to a virtual place called the mining pool and share their computing power with each other to increase the chance of mining a new block. In exchange for membership in these pools and using their services, you should Mining fee pay. On average, the fees of reputable mining pools are around 0.01 to 3.9% of the mining revenue.
- Difficulty of extraction In addition to the low price of Bitcoin, they can complement each other in reducing the profitability of mining. As powerful miners enter the network, they increase the difficulty and other miners are forced to upgrade their rigs to stay competitive.
- Mining and extraction laws It can also affect your daily profit from Bitcoin mining.
Read more: The best Bitcoin mining machines in 2024
How to calculate bitcoin mining income?
How to calculate the monthly income of Bitcoin? How can we find out how much the miner's income is? The best way to calculate the profitability of mining is to refer to the mining calculator.
By entering the processing power of the devices and the amount of electricity consumed and the cost of electricity in the mining calculator, you can roughly calculate your income. Then, by calculating the amount of general expenses such as the cost of purchasing equipment and devices, the investment return time can be estimated.
How much is Bitcoin trading income?
According to the data of various studies, traders earn 2-10%. That is, if you work according to the average and your initial capital is 1000 dollars, assuming that you do not lose any day, you can make a profit of about 100 dollars at the end of the month.
But the story does not always end so sweetly. Some days you make a loss and some days you don't make a profit. Traders generally do not trade in a simple way, and most of them use leverage to multiply their meager profits to make it an acceptable figure.
Bitcoin trading income is not fixed and everything depends on you; One day you make a profit of 1000 dollars and the next day you may lose all your profit for a month! This is the reality of the market for those who trade without knowledge!
Factors affecting the income of Bitcoin trading
- Initial Investment You are very important. You can enter the market with 20 dollars, but if this 20 dollars doubles, you have only made 1 million tomans, including 50,000 tomans! This does not mean that you should put more money into the market, but that you should not expect to become rich overnight with $20.
- Number of trades is another factor. How many times do you trade during the day? The more successful trades you have, the more you earn from trading. Don't forget that more trades increase the possibility of loss!
- Finally this The percentage of success in transactions which determines your income from Bitcoin trading. The success rate of trades means how many of them are profitable out of every 10 trades.
- Using leverage in trading will increase your profit. Bitcoin price does not double in one day, but you can increase your profit percentage by using leverage.
- Using different trade methods It also affects your profitability from Bitcoin trading. For example, some people hold Bitcoin for the long term and some buy and sell it in the short term. Using different trading strategies and techniques affects your profit.
Frequently asked questions
Trading bitcoins, mining, getting free bitcoins and participating in contests that award bitcoins are ways you can earn bitcoins.
Bitcoin mining daily profit is more stable than Bitcoin trading daily profit, but still you can make $1000 profit with one trade (if you don't lose)!
On average, with industrial electricity and a powerful device, you can earn from 10 to 30 million tomans.
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