Hashprice

Hashprice is the daily earnings of a single unit of hashrate, worked out from the coin issued per day divided by the whole network hashrate, valued at the coin price. It is revenue, not profit.

The formula is simple. Take the coins the network pays out in a day, subsidy plus fees. Divide by the network hashrate. Multiply by the coin price. The result is the expected daily revenue of one unit of hashrate, such as one TH/s or one MH/s, depending on the coin.

A worked example. Say a network pays 10,000 coins a day, runs at 1,000 TH/s and the coin trades at 0.10 dollars. Each TH/s earns 10 coins a day, which is 1 dollar. A rig of 5 TH/s would expect about 5 dollars a day before costs.

Hashprice moves with three things. It rises when the coin price or fees rise. It falls when network hashrate rises, because the same reward is shared across more work. It also drops sharply when a coin's block subsidy is cut, as at a halving.

Because your hardware is not in the formula, it is the fair way to compare a coin against itself over time or against another coin today. Electricity and pool fee come off afterwards. To get profit, subtract your power cost per day and the pool fee from your hashrate times the hashprice.

A common mistake is to compare hashprice across algorithms. One TH/s on one algorithm is not the same work as one TH/s on another, so their hashprices cannot be set side by side. Compare what your own rig earns on each coin instead, which is what a mining calculator does.

In practice, watch the trend rather than one day. A falling hashprice with a steady price means more miners are joining. A rising one can mean miners are leaving or fees are up. The pool's calculator turns the current figures into an estimate for your hashrate.