Mining bitcoins and other altcoins can be profitable. However, electricity costs may not be recovered. Check how to calculate the profitability of mining cryptocurrencies.

## Preparing cryptocurrency mining spreadsheet

In order to properly create a useful bitcoin calculator, you need an Excel spreadsheet that has components like this:

Put the price that you know of under the $ column.

Label the months.

In the D column, under Difficulty + 10%, and place the same value you put beside the Current difficulty in the previous step. In this case, it's (=B6).

## Preparing Bitcoin mining calculator

Click under the result (1), type **=D2+(D2*($B$7/100))**,** **press enter (2). Double click on the small square (3).

Click under Coins/day (1), and type **=$B$9*(86400/(D2*((2^32)/($B$2*1000000000))))** (2). Double-click on the small square (3).

Note: 86400 is the number of seconds in a day.

Click under revenue/day (1). Type **=E2*$B$9** before pressing enter. Double-click on the square (3).

Click under net/day (1). Type **=F2-($B$3*($B$4/1000)*24)** then enter (2). Double-click on the small square (3).

Click under Per month (H) column. Type **=SUMPRODUCT(--(G2-((G2-G3)/30)*ROW(INDIRECT(1&":"&30))))** (2) and double-click on the small square (3).

Select the empty cell in column G and write Net Annual (1). Then beside it on (H) and type **=SUM(H2:H13)-B6** and press enter (2)

Of course, this BitCoin mining calculator is valid for AltCoins as well.

Good luck with your mining and HODL. Here you can download a free BitCoin Mining Calculator.

Further reading: How to calculate return on investment? Loan amortization in Excel Ethereum Network Difficulty How to pull DeFi data to Excel?