understanding cryptocoins mining profit calculation

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So I've been reading about this topic for a while and am still unable to figure out some things (or at least I need some confirmations). I looked on the internet for mining hardware and I've chosen one to make my calculations, here is my example: 1- hardware: antminer S5 (1155 GH/s) 2- running costs (electricity (power and cooling), internet, space) are zero for now. 3- using this calculator https://www.cryptocompare.com/mining/calculator/ltc for bitcoin inputting the above gives a revenue of $ 17,011,841.74 / year!

can someone explain if this is true or what did I do wrong with this?!

Apr 6 in Blockchain by Soham
• 9,670 points
92 views

1 answer to this question.

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 The problem is that the miner you are looking at (Antminer S5) is an ASIC miner, specifically designed for SHA-256 mining. Litecoin is Scrypt mining and requires a different type of miner.

You can not mine Litecoin with an Antminer S5. If you mined Bitcoin, you'd be looking at $22.24 / month, or $272.52 / year running your miner 24/7 with zero electricity costs.

answered Apr 12 by Rahul
• 9,680 points

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