Calculating Bitcoin Mining Profits is Easy. Hardware+Electricity=Costs. The Rest You Keep.
Now for the secret to calculating Bitcoin mining profits — run a Bitcoin mining operation where electricity is cheap.
In 2015 I had no way of knowing that relocating to Nevada from New Jersey would be so profitable. My reasons then stand sound today; no state income tax, fantastic weather, fantastic housing at lower costs, the best food found anywhere on earth among many other reasons. In the ancient history dating back to June 2015 I say in all honesty that Bitcoin mining wasn’t even a twinkle in my eye. I’d heard of Bitcoin in passing but never gave it a second thought. With insight akin to a Jedi who is not always sure of what’s next but almost always sure it’ll turn out for the better I moved to Nevada.
I might be a Jedi. It turns out that Nevada has one of the lowest electricity costs in the United States. And when it comes to calculating Bitcoin mining profits the cost of electricity is the biggest factor of them all. That’s because there is no other cost of any consequence aside from acquiring Bitcoin mining hardware itself. Here’s how much it costs to mine Bitcoin on a state by state basis.
Regardless of whether you call it fate or fortune or blind luck, Nevada is one of the best states for a healthy bottom line when calculating Bitcoin mining profits. Looking at the map of the Continental United States its no small wonder why John McAfee chose Washington State for his company’s own mining operations. They’re on the map too when it comes to lowest electricity rates and that’s what makes calculating Bitcoin mining profits easy AND enjoyable.
The “fun” part of Bitcoin mining can be found in the premier article we launched CryptoCapers.Com with. Our other mining articles will provide endless hours of entertainment and education as well.