Live Market & Miner Profitability Dashboard
LONG BTC
Hold Bitcoin
SHORT HASHPRICE
Sell $HUP futures
LONG SPREAD
BTC Δ% − Difficulty Δ%
| Spread Range | Label | Interpretation |
|---|---|---|
| < -10% | Bankrupt | Severe loss, difficulty outpacing BTC significantly |
| -5% to -0.5% | Break-even | Small negative spread, marginal profitability |
| -0.5% to +0.3% | Healthy | Moderate positive spread, normal conditions |
| +0.3% to +0.7% | Sweet Spot | Strong positive spread, optimal mining conditions |
| > +0.7% | Jackpot | Exceptional spread, BTC surging vs difficulty |
| Option | Description | Capital Efficiency | Complexity |
|---|---|---|---|
| A | Physical BTC + Short $HUP futures | Low (100% capital) | Low |
| B | BTC futures + Short $HUP futures | High (10-20% margin) | Medium |
| C | BTC call options + Short $HUP | Very High (premium only) | High |
| D | Synthetic position via derivatives | Very High | Very High |
Analysis coming soon...
| Risk Factor | Physical Mining | Synthetic Spread | DF Lending |
|---|---|---|---|
| Capital Requirements | CRITICAL $500k-$5M+ | MEDIUM $50k-$500k | LOW $10k-$100k |
| Operational Complexity | CRITICAL Facility, hardware, power | LOW Trade execution only | MEDIUM Hedging required |
| Liquidity Risk | CRITICAL Hardware illiquid | LOW Daily settlement | MEDIUM Contract duration lock |
| Difficulty Exposure | CRITICAL Full negative exposure | ZERO Hedged via short $HUP | HIGH Depends on hedge |
| BTC Price Risk | HIGH Revenue in BTC | MEDIUM Long BTC exposure | LOW Fixed USD returns |
| Counterparty Risk | MEDIUM Power provider | MEDIUM Exchange/clearinghouse | HIGH Borrower default risk |
| Regulatory Risk | MEDIUM Energy regulations | LOW Regulated derivatives | HIGH Lending regulations |
| Downside Scenarios | CRITICAL Can go to zero | HIGH Can lose 90%+ | MEDIUM Limited to principal |
Highest capital and operational complexity. Full exposure to difficulty increases. Best for long-term operators with cheap power.
Eliminates difficulty risk via $HUP hedge. Capital efficient with derivatives. Historical backtest shows high volatility and negative 10yr return.
Lowest capital requirement. Yields earned from lending to miners. Counterparty risk and hedging complexity. More stable returns.
Instantly determine profitability: if Revenue/kWh > Electricity cost/kWh, you're profitable.
Bar chart showing Revenue per kWh for all miners at current hashprice. Miners above the electricity cost line are profitable.
Comprehensive profitability analysis for all major Bitcoin mining hardware at current hashprice. Click "Rev/kWh" header to sort.
| Miner | Mfr | Cooling | Year | Hashrate (TH/s) |
Power (kW) |
Efficiency (J/TH) |
Daily kWh |
⚡ Rev/kWh ($/kWh) |
Profit/kWh ($/kWh) |
Monthly Elec Cost |
Daily Revenue |
Daily Profit |
Monthly Profit |
Gross Margin % |
Break-even $/kWh |
Status |
|---|
Track total cumulative profit for a selected miner from release to present. Toggle between selling all BTC monthly (USD view) or HODLing BTC and only selling enough to cover power.