This guide explains every factor, shows how they interact, and links to our profitability calculator so you can model your specific hardware and conditions. We do not guarantee returns; profitability depends on market variables entirely outside our control.
Articles in this cluster
What Determines Bitcoin Mining Profitability?
A deep dive into the five variables: hashrate, J/TH, electricity rate, BTC price, and network difficulty.
02Understanding J/TH Efficiency
What J/TH means, how to calculate it, and how to read it alongside hashrate across the M70 series.
03Hosted vs. Home Mining Profitability
Why commercial $0.07/kWh rates typically outperform US residential electricity for long term mining.
04Bitcoin Mining Break Even
The break even formula, what moves it, and how to use a calculator to model your specific hardware.
What Is Bitcoin Mining Profitability?#
A bitcoin miner is profitable when its daily revenue (the BTC it earns from the mining pool, converted to USD) exceeds its daily electricity cost. Revenue depends on your share of the global hashrate and the current block subsidy (3.125 BTC per block, unchanged since the April 2024 halving and until approximately April 2028). Electricity cost is simply your hardware’s power draw multiplied by your electricity rate.
Profitability is not a fixed number. It changes every day as BTC price moves and every two weeks as network difficulty adjusts. Use our profitability calculator to model current and scenario conditions.
The Five Variables That Determine Profitability#
Detailed breakdown in the supporting article. Summary:
| Variable | Your Control | Notes |
|---|---|---|
| Hashrate (TH/s) | At purchase | More TH/s = proportionally more rewards |
| Efficiency (J/TH) | At purchase | Electricity per TH; M70S 13.5, M70 14.5 |
| Electricity Rate ($/kWh) | Hosting choice | $0.07/kWh all in at our TX facility vs. a US residential average of $0.183 (EIA, July 2026) |
| BTC Price (USD) | None | ~$69,000 to $69,400 as of early June 2026; volatile |
| Network Difficulty | None | ~139 T as of early June 2026; down ~10.7% YTD |
Understanding J/TH Energy Efficiency#
J/TH (joules per terahash) is the most important hardware spec for long term profitability. It measures how much electricity your miner consumes per unit of hashing work. The Whatsminer M70S runs at ~13.5 J/TH and the M70 at ~14.5 J/TH, both top tier air cooled machines. The hydro cooled M73 runs at 14.5 J/TH and is built for raw hashrate density, with 470 to 526 TH/s in a single chassis. See the full breakdown in our J/TH efficiency guide.
Hosted vs. Home Mining Profitability#
US residential electricity averaged 18.3 cents per kWh in July 2026 (EIA), more than double the $0.07/kWh all in rate at our Southeast Texas facility. On a miner at a typical 3,500 W draw running continuously, the monthly electricity difference between $0.183/kWh (US residential average, July 2026) and $0.07/kWh is approximately $285 per machine per month (3.5 kW × 720 h × $0.113 difference). That gap directly affects your break even price and daily margin. Full analysis in the hosted vs. home profitability article.
How to Calculate Your Break Even Point#
Your electricity break even is the BTC price at which your daily mining revenue exactly covers your daily electricity cost. It depends on your hardware's watt draw, your electricity rate, network difficulty, and the block subsidy. Because difficulty and BTC price change constantly, break even is a scenario, not a fixed number. Run your own break even scenarios at our profitability calculator.
Revenue and Profitability per TH/s#
The most practical metric for comparing any two miners is gross revenue and net profit per TH/s per day; it normalizes performance to a common unit regardless of total hashrate. For a recent figure and a worked example, see bitcoin mining revenue per TH/s per day.
Formula
Gross revenue per TH/s/day = 450 BTC/day ÷ Network TH/s450 = ~144 blocks/day × 3.125 BTC/block (since April 2024 halving). Network TH/s is derived from difficulty: network hashrate = difficulty × 2³² ÷ 600.
Using early June 2026 inputs (BTC ~$69,000, difficulty ~139 T, network hashrate ~995 EH/s):
| Metric | M70S · 13.5 J/TH · $0.07/kWh | M70 · 14.5 J/TH · $0.07/kWh | Home · 14.5 J/TH · $0.183/kWh |
|---|---|---|---|
| Gross revenue/TH/s/day | ~$0.031 | ~$0.031 | ~$0.031 |
| Electricity/TH/s/day | ~$0.023 | ~$0.024 | ~$0.064 |
| Net profit/TH/s/day | ~$0.009 | ~$0.007 | ~−$0.033 |
Illustrative figures based on early June 2026 inputs. Gross revenue changes daily with BTC price and difficulty. Electricity per TH is hardware efficiency × 24h × electricity rate ÷ 1,000. The home column uses the US residential average of 18.3 cents per kWh (EIA, July 2026); at that rate each TH/s loses ~$0.033/day at these market conditions.
How BTC Price and Difficulty Scale Revenue per TH/s#
Gross revenue per TH/s scales directly with BTC price (+10% BTC price = +10% gross revenue/TH) and inversely with network difficulty (+10% difficulty = ~9% fewer BTC mined per TH per day). The two variables move independently: favorable difficulty can coexist with falling price. Illustrative scenarios:
| BTC Price | Difficulty | Gross Revenue/TH/s/day (est.) |
|---|---|---|
| $50,000 | 139 T | ~$0.023 |
| $69,000 | 139 T | ~$0.031 |
| $100,000 | 139 T | ~$0.045 |
| $69,000 | 100 T | ~$0.043 |
| $69,000 | 200 T | ~$0.022 |
Profitability Context: Early June 2026#
The following figures are a dated snapshot for context only. Do not rely on them for investment decisions. Consult real time sources before acting.
- BTC price
- ~$69,000 to $69,400 (fell below $70k that week)
- Block subsidy
- 3.125 BTC/block (since April 2024 halving; until ~April 2028)
- Network difficulty
- ~139 T (down ~10.7% YTD across 6 adjustments)
- Network hashrate
- ~740 EH/s (CoinWarz) to ~1,000 EH/s (minerstat)
Sources: CoinWarz, minerstat, as of early June 2026. Figures change daily.