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Choose a consistent revenue input
Hashprice expresses expected revenue for a quantity of hashrate over time. Luxor publishes a Bitcoin benchmark per PH/s per day, in BTC or USD. Confirm the unit, date and included reward components before using a value. A gross index and a net pool credit are different inputs; subtracting pool fees again from an already net figure understates revenue.
Worked example with explicitly hypothetical inputs
Assume 200 TH/s, a gross hashprice of $50 per PH/s-day, 95% productive uptime and a 2% reward fee. Daily net revenue is 0.2 × 50 × 0.95 × 0.98 = $9.31. These are teaching inputs, not current market quotes. If accepted pool hashrate already includes downtime, do not multiply it by uptime a second time.
Model the meter separately
Assume the miner draws 3.5 kW during 22.8 operating hours, shared auxiliaries use 6 kWh per day, and other costs are $1 per day. Energy is 85.8 kWh. At $0.07/kWh, energy costs $6.006 and cash remaining is $2.304 per day. Standby power, demand charges, tax and financing are omitted here; include them when they apply to the actual site.
Change one assumption at a time
Keeping the previous power and cost assumptions fixed, test lower and higher hashprice. The purpose is to see which variables can reverse the decision. A static payback calculation divides upfront cost by one assumed daily surplus; it cannot describe difficulty changes, repair events or a changing resale value over several years.
| Gross $/PH/day | Daily net revenue | Daily cash after stated costs |
|---|---|---|
| $40 | $7.448 | $0.442 |
| $50 | $9.310 | $2.304 |
| $60 | $11.172 | $4.166 |
Calculate an operating break-even tariff
For this example, the tariff covering energy after the stated other costs is (9.31 − 1) / 85.8 ≈ $0.0969/kWh. This excludes recovery of the equipment purchase price and the omitted costs. Update the worksheet with actual metered energy and credited revenue after commissioning, retaining both the original scenario and the observed result.
References
Original documents and further reading. Check the manual for your exact equipment.
