e.g. Antminer S21 = 200 TH/s
e.g. Antminer S21 = 3,500 W
Global avg ~$0.10/kWh
How Bitcoin Mining Profitability Works
Bitcoin mining profitability is determined by three forces: your hashrate (how fast your hardware hashes), the network difficulty (set by Bitcoin's protocol and adjusted every 2016 blocks), and the BTC price. The formula is: BTC/day = (hashrate × 86,400 × block reward) / (difficulty × 2³²). After the April 2024 halving, the block reward dropped to 3.125 BTC — meaning miners now need either lower electricity costs or a higher BTC price to remain profitable compared to the previous era.
Electricity cost is the dominant variable for most miners. At $0.10/kWh, a modern ASIC like the Antminer S21 (200 TH/s, 3,500 W) breaks even around $30,000 BTC. Home miners should also factor in pool fees (1–2%), internet costs, hardware depreciation, and cooling overhead. For a full picture of Bitcoin network conditions, check the Dashboard or the Halving Countdown.