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This question can be said to be a question that every investor who wants to obtain Bitcoin through mining wants to know. Before answering, the editor of Bitcoin Circle will first tell you what Bitcoin mining is. Bitcoin mining is simple. Understanding is the process of people looking for Bitcoins. Only after passing a certain algorithm can users obtain Bitcoins. After obtaining Bitcoins and selling them, they can make profits. In the mining process, only a small amount of energy and financial resources are required. After learning about Bitcoin mining, let’s get back to the topic. What is the income from Bitcoin mining in 2020? Below, the editor of the currency circle will give you a detailed explanation of the calculation method of Bitcoin mining income.

## What is the income from Bitcoin mining in 2020?

Nowadays, the life span of general large-power mining machines is conservatively more than 2 years. There is basically no problem in 3 years, or even 4-5 years. The chip technology has reached the bottleneck and there is basically no possibility of being eliminated within 2-3 years. The S9 has been mining for 4 years, not to mention the new and more excellent mining machines with large computing power.

The current production cost of mining machines is about 120-140 yuan for 1T of computing power, so the current prices of mining machines are definitely not exaggerated and fall within the reasonable and low price range.

The price of the mining machine is assumed to be 6,600 yuan according to the official website (the first-class community mining fund price will be more favorable), the electricity cost is calculated as 0.35 yuan per degree, and the power consumption is 2,200 watts.

First, it must be calculated based on the actual mining difficulty (the more machines are mining, the greater the difficulty) and the Bitcoin price (real-time changes).

Currently on January 1, 2020, approximately 0.0000195 BTC can be mined per T of computing power per day. As the difficulty increases, it will gradually decrease, or the machine with low computing power will be eliminated and cannot mine anymore, and it will increase. We follow the theoretical data To calculate, assume that 0.0000195 BTC are mined per T every day, and the BTC price is assumed to be a fixed value of 52,000 yuan.

2.2kW x24=52.8kWh/each T17-40T per day

52.8 kilowatt hours of electricity x 0.35 yuan electricity bill = 18.48 yuan/day

The above data can be calculated that each T17 machine with 40T computing power requires 18.48 yuan in electricity per day.

0.0000195 BTCx40T=0.00078 BTC (the value that can be mined by 1Tx40T)

0.00078BTCx52000 yuan=40.56 yuan/day (BTC quantity x BTC price)

The actual output price minus the electricity cost equals the actual income: 40.56 yuan - 18.48 = 22.08 yuan/day. From this, it can be calculated that the daily income of each mining machine is approximately 22.08 yuan.

The calculation method of the payback period is: mining machine cost/daily income = number of days to pay back the payback. The payback period is closely related to the price of BTC. The more it rises, the faster the payback is. Selling BTC mined at a low price at a high price is also one of the ways to accelerate the payback. That is, 6,600 yuan/22.08 yuan = 298.9 days, and it takes about 300 days to pay back the capital.

Generally speaking, it is no problem for the mining machine to run for 3-4 years under normal circumstances. We take the median value of 3.5 years to calculate, 3.5 years x 365 days = 1277 days (number of years x number of days per year), 22.08 yuan Income year), the average annualized rate is about 122%.

## Bitcoin mining income calculation method:

I can't find a clear Chinese explanation for this problem on the Internet. The editor of Bitcoin Circle found some information from the Bitcoin official website. After condensing it, the explanation is as follows:

First, the Hash (hash) encryption algorithm will generate a 256-bit binary number. In order to "guess" the first N bytes of these 256 digits as 0, the probability of success is [2 to the power of 256 -1]. One, that is, on average, it is necessary to calculate 2 to the power of 256
- It takes 1 time to calculate.

Right now:

2**256-1
=115792089237316195423570985008687907853269984665640564039457584007913129639935

Therefore, when the difficulty is D, the following times need to be calculated. (** symbol represents power operation) (0xffff * 2**208)/D

Therefore, the total number of hashes is: D * 2**256 / (0xffff * 2**208)

Since Bitcoin rules set a block every 10 minutes, and 10 minutes is equal to 600 seconds, the above is converted into computing power per second: D * 2**48 / 0xffff / 600

Converted to decimal: D * 2**32 / 600

The above formula is a general formula with only two variables: mining difficulty and mining machine computing power.

Example: August 15, 2017, difficulty D is: 923.233.068.448

(Click  to get the current difficulty)

Substituting into the above formula, under this round of difficulty, the computing power required is: 6.608.759.725.949.815.794. That is, 6609P/second of computing power to generate 1 block in 10 minutes, that is, 12.5 BTC.

That is to say, it takes: 6609P /12.5BTC = 528.72P of computing power to mine one Bitcoin.

Currently, the most versatile Antminer S9 mining machine has a computing power of 13.5T/s, which is 528720T / 13.5T/s = 39164 machines mining, and can generate one BTC in 10 minutes.

That is, 39164 / 144 10 minutes = 272 S9 mining machines, which can mine one BTC every day.

Organize the above process into a formula, assuming D is the difficulty, H is the computing power (G is the unit), and the number of Bitcoins that can be mined every day is:

600*10**9*12.5*144*H/2**32/D

Simplify the above formula to: 251457*H/D

It can be seen from the formula that the output is inversely proportional to the difficulty of mining and directly proportional to the computing power of the mining machine. As the difficulty continues to rise, the number of Bitcoins that can be mined every day continues to decrease.

Therefore, as long as an expected growth rate of difficulty can be given, the payback time and return on investment can be calculated.

Note: Common unit conversion: 1P =10^15.1T = 10^12. 1G =10^9. 1M = 10^6. 1K = 10^3

Through the above introduction, I believe everyone has an idea of how much Bitcoin mining income will be in 2020. In fact, Bitcoin mining is currently mainly divided into two types: independent mining and purchased computing power. Independent mining generally has high potential income, but it requires Occupying principal involves high risks, and there is a risk of loss. Purchasing computing power, that is, cloud computing power mining, generally has a short investment cycle and stable income. It can smooth out the slippage of market fluctuations and obtain stable income, but investors will ultimately gain To be shared with the platform.