Note: Our guide on Bitcoin mining has been fully updated. This feature was first published in November 2015. Mining is the process of using a computer to perform complex calculations on blocks of data which maintain the Bitcoin network. Miners are rewarded for their efforts with a certain amount of. Bitcoin (BTC) is fast becoming the province of people using specialized (application-specific integrated circuit) devices, although if you have one or more powerful graphics cards you may still be able to generate a small profit by assembling your own mining device.

You'll learn more about this in the following steps. The actual profit you make will depend on a number of factors.

The first is your 'hash rate' – in other words, the actual processing power of your machine. Computers designed for mining, or 'rigs' as they're commonly known, require large amounts of electricity, which will increase running costs. The complexity of mining also rises over time.

How to mine Bitcoins. Try to do it on a machine that isn't connected to the internet so your BTC can't be. This should give your Bitcoin mining PC's. Where can I find out how much Bitcoin will I mine. How much Bitcoin will I mine right now with hardware X? Fixed number of 3,600 BTC gained from mining. Ultimate Bitcoin Calculator. Bitcoin Mining. Is a simple piece of software that can calculate how much Bitcoins your computer can mine. Based on your Hash Rate. With Minergate it´s not possible to mine Bitcoin in specific but you can mine more. How many bitcoins can a basic computer. Mining Bitcoin using your computer.

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The Bitcoin itself is a very volatile virtual currency and while it has recently made huge gains, it may also plummet in value. Bear this in mind if you plan to hold onto any BTC you mine rather than selling immediately.

If you want a rough idea of how much you can make from mining, use one of the many online profitability calculators (for example, the one at ). While you can technically try to mine Bitcoin on your own, it's very unlikely that your rig will singlehandedly solve the complex sums necessary to receive a reward. Instead, you'll need to join a mining pool. As the name suggests, this is a pool of multiple machines connected together, engaged in a collaborative mining effort. The Bitcoin rewards reaped are shared amongst everyone who contributed processing power to the effort. However, note that the way in which profits are shared can vary from pool to pool. You can learn more about pooled mining on the.

• If you just want to buy bitcoin instead, check out as well as a list of the. Prev Page 1 of 15 Next Prev Page 1 of 15 Next 1. Choose your miner. One easy – but not cheap – way to get started with Bitcoin mining is to buy an ASIC device such as the AntMiner S9. These devices have been specifically designed for mining Bitcoins which means they'll generally give you the greatest return on your investment. However, as mentioned, these ASIC devices are expensive.

The S9 for instance currently retails for around €2,100 (about £1,860, $2,490). You will usually need to buy a separate power supply unit which will set you back something like another €300 (£265, $360). These devices are usually designed specifically to mine Bitcoin and will not function well if you try to use them to mine other cryptocurrencies (if, say, Bitcoin should happen to fall drastically in value). Alternatively you can build your own Bitcoin mining rig. While these aren't as efficient in terms of power and hash rate, they require less upfront expense and can mine other currencies besides BTC.

Plug And Play Zcash ZEC Miner. In the simplest terms these are computers with multiple powerful graphics cards installed. These GPUs might be primarily designed to render complex graphics when playing games, but they also lend themselves well to coping with the complex calculations involved in Bitcoin mining.

To get started, you'll need to purchase a case for the machine. Most of these are a simple metal frame to allow heat to dissipate easily. You'll then need to choose a motherboard and graphics cards for mining, such as the AMD Radeon RX 580. If you need some more advice, see our guides on choosing the and for mining. You'll need to assemble the machine and install the OS and mining software yourself, so you should only go down this route if you are tech-savvy and familiar with computers.

If neither of these options appeals, you can rent hash power from cloud mining companies. These firms have dedicated data centers devoted to mining Bitcoins. As they are centralized they can buy machines in bulk and use efficient methods to generate electricity.

Most companies will offer you a fixed amount of Gigahash Seconds (GH/s) of mining power for a fee. The advantage of this approach is that you don't need to buy any expensive hardware. The fees for cloud mining will vary, however, and another point to be wary of is scammers posing as cloud mining outfits.

See the for a list of reputable cloud mining companies. Image credit: Marco Krohn (Wikimedia Commons) Prev Page 2 of 15 Next Prev Page 2 of 15 Next 2. Set up your Bitcoin wallet. Once you've made the decision that mining is right for you, you'll also need to set up a Bitcoin wallet to store your profits. If you're mining as an investment and don't plan on spending any of your coins soon, consider using a website like to create a 'paper' wallet. Make a note of the 'public' address which you can use to receive payments. You can check the balance of your Bitcoin wallet safely at any time by visiting and entering your payment address into the search bar at the top-right.

Don't let anyone see your private keys as anyone with access to your paper wallet can control your virtual cash. If you plan to regularly cash out your BTC or make payments, consider using a software wallet instead. The lightweight is available for all major desktop operating systems and Android. When you create your wallet, Electrum will generate a 'seed' of a dozen random words to use as a private key.

This means you can restore your Bitcoin wallet if anything happens to your computer. If you use a software wallet like Electrum, try to do it on a machine that isn't connected to the internet so your BTC can't be hacked.

This is known as 'cold storage'. The Electrum website has for setting up a 'watching' wallet for day-to-day use which can show your balance but cannot make payments itself. Or for full instructions on setting up secure offline storage, see our article on. Prev Page 3 of 15 Next Prev Page 3 of 15 Next 3.

Pick a Bitcoin mining pool. Head over to the and click on 'Sign up here' at the top-right. On the registration page choose a username, then enter your email address and password.

The Slush Pool website will send you a confirmation email. Click the link to validate your email address. You'll see that a 'worker' has been created for you, so you can begin mining. Although it's not compulsory, you should ideally have one worker per device. Visit at any time to view and create workers. Prev Page 5 of 15 Next Prev Page 5 of 15 Next 5. Funded mining.

You need to tell your mining pool where and when to send the funds from your mining exploits. On the Slush Pool website you can do this by clicking 'Settings' at the top-right, then click 'Bitcoin' on the left. Choose 'Payouts' then click the 'New Wallet' button. Paste in your public address for Bitcoin payouts here. If you're using a paper wallet this should be clearly marked. In Electrum you can view your current receiving address by clicking on the 'Receive' tab.

Click 'Submit' when you're done. Some miners also allow you to choose the payout threshold – in other words how many BTC you need to have mined before the Pool sends funds to your wallet. This is important as while it's risky to leave large amounts of BTC in an online wallet, transaction fees for sending BTC across the network are currently very high, so you could end up paying a lot for multiple smaller payments.

Choose freely and wisely. Prev Page 6 of 15 Next Prev Page 6 of 15 Next 6.

Mining pools are a popular target for hackers for obvious reasons. To make sure no one can potentially pilfer your Bitcoins, first check that your pool uses SSL. This means your connection is secure – in most web browsers you'll see a padlock icon (in the address bar) if this is the case. Certain mining pools such as Slush Pool also allow you to secure access to your account by using two-factor authentication. This introduces a second step for a successful login, and is therefore another hurdle to prevent hackers from breaking into your account. In order to use this you'll need access to a mobile device and an app such as Google Authenticator or FreeOTP. Prev Page 7 of 15 Next Prev Page 7 of 15 Next 7.

Grab Bitcoin mining software. Whether you're using a specialized ASIC Miner or your own rig, the device is going to run very hot when trying to mine BTC for you. Therefore, be sure to place your mining hardware somewhere with good ventilation so the heat can dissipate easily. Generally speaking, the cooler your mining machine, the more efficiently it will perform. Make sure to factor the costs of air conditioning and/or a heat pump into your mining calculations to be certain you’re still running a profitable enterprise. If you live somewhere cold, you could follow in the footsteps of and use the excess heat from mining as a 'data furnace' to heat your home.

Prev Page 14 of 15 Next Prev Page 14 of 15 Next 14. Keep mining profitable. As research continues into specialist mining equipment and the difficulty of mining increases, the highest profits from mining are usually earned by data centers based in locations where energy is inexpensive such as China. As a hobbyist miner, you can maximize your profits by following their example by using ASIC miners and keeping electricity costs down. While relocating to China may not be on the cards, you can increase the efficiency of your rig by using an efficient PSU.

You can get help with this in the Pools section of the. An alternative way to get one over on the ‘big bully’ miners is to use renewable energy to power your mining machine – for example by installing solar panels on your property. BridgeCoin BCO Guiminer there.

If you do this, remember that the advertised wattage for devices is usually the optimal amount you'll receive under ideal conditions. Solar panels in particular are affected not just by the amount of sunlight they receive, but by surface area, the angle at which they're placed, and the direction in which they're facing. Speak to a qualified installer, fully explain your needs, and get things right.

To get started, consider using an electricity usage monitor to measure the energy consumption of your mining device in kWh (kilowatt hours). These are very inexpensive and available from any hardware store. Remember that the reward for mining Bitcoin halves every 210,000 blocks. You can find a more detailed explanation of this on the, but essentially, this means mining becomes less profitable over time, unless you can increase your hash rate – or the value of Bitcoin increases. Image credit: Thamizhpparithi Maari (Wikimedia Commons) Prev Page 15 of 15 Next Prev Page 15 of 15 Next • • • • •.

TP's Bitcoin Calculator FAQ Your ultimate Bitcoin calculator. Never again will you have to look at other mining calculators, profitability calculators, power calculators or generation calculators. See how much your Bitcoin mining rig can earn you today! What is 'Bitcoin'? Bitcoin is a new form of digital currency unlike any that was ever created. It is to PayPal like gold is to a traditional currency. It relies on mathematics of cryptography and the combined calculating power of many computers to secure your savings against anyone wanting to take it away.

For more on Bitcoins, check out. What is 'mining'? Mining is a process of generating new Bitcoins by solving a mathematical problem. By mining you let your computer generate pseudo-random numbers according to certain rules, and if your random number is small enough, you solve a Block, and get to keep a reward associated with it. For more on mining, check out.

How do I start mining? Best way to get your feet wet with mining, is to do the following: -Join a mining pool, like. -Download a mining software, like the. -Using the credentials from the pool, configure your miner and click 'Start mining'. It's that easy! Now you can let your computer earn money for you! What do I do then?

After you let your computer crunch the numbers for awhile, you should look into either transferring them to your Wallet, or selling them for real money. -In order to get your own Wallet, download the Bitcoin Client from here -. -As that might be a bit of a hassle at times, you might consider using an online Wallet, like. -If you want to sell your Bitcoins, you should check out an exchange, like. How much money can I earn? Well, this is what this whole website is for!

In just a few easy steps you can see how much money you can earn: - - -Click Calculate And there you have it, all the data you need to get started! How do I earn more? The answer to that question is both easy and hard - if you want to mine more Bitcoins, you need to get more, which can be a bit daunting at times. But hey, you can make a pretty decent living by making your computers work for you this way!:) What is a Bitcoin Mining Calculator anyway? A mining calculator (also known as a ) is a simple piece of software that can calculate how much Bitcoins your computer can mine. Based on your Hash Rate and the current Difficulty it can approximate how much Bitcoins you can expect to see being generated. What is a Bitcoin Power Calculator?

A power calculator (or for short) calculates how much it costs for your computer to generate Bitcoins, based on the price of electricity and the power consumption of your computer. What is a Bitcoin Profitability Calculator? A calculates how much actual money your computer can generate (taking a current exchange rate from a Bitcoin exchange). How does this website fit in all this? This website is one of the few websites that offers a complex solution to all of the above calculating problems in a neat, readable little package. It is a mining power and profitability calculator all in one.

By entering just a few basic pieces of information you can learn all you want to know (and some things you didn't know you wanted to know) from a simple table. You can estimate how much money you can earn with a new mining rig, when your investment will be returned and many more, without having to go back and forth between multiple websites! Thanks, I love this site! How can I help? If you like this calculator, please consider sharing, Flattr'ing or sending some Bitcoins over to.