determine your. Some hardware might not pay itself off at all. Bitcoin IRA cannot guarantee, and makes no representation, that any investment made will appreciate at all or appreciate sufficiently to make customers a profit. Block Rewards and Transaction Fees, every time a block is validated, the person who contributed the necessary computational power is given a block reward in the form of new-minted BTC and transaction fees. First, the amount of newly minted BTC (often referred to as coinbase, not to be confused with the Coinbase exchange) halved to 25 BTC, and the current coinbase reward.5 BTC. Two of the main factors that influence your profitability are: The Bitcoin price and the total network hash rate. The statements made on this website are opinions and past performance is no indication of future performance or returns. You can use the calculator above to determine your projected earnings based on the asic you're using, and your electricity cost. You'll team up with other miners to increase your collective hashing power, thus increasing your chances of validating a block. Conclusion Bitcoin mining is very competitive. The average Joe can't even afford one asic, much less thousands of them.