How to calculate hashing power?

How to calculate hashing power?

Robert McDougall 

August 17, 2022

Cryptocurrency

If you have finally decided to mine cryptocurrencies with your hardware, then you might be wondering what hash rate you will be able to get and how much you can earn. Of course, it is quite an important aspect as your earnings, revenue, and profit solely depend on the hash rate you are going to get and the number of cryptocurrencies you will be able to mine with it.

So the question here is, how can you calculate hashing power, and is it possible to get precise and accurate data of hashing power depending on the hardware you have? Before answering that, let’s first check out what hashing power or hash rate is and why it can be crucial when mining crypto assets.

What is hashing power?

Hashing power or hash rate can be considered as a measure of computational power that hardware can deliver when mining cryptocurrencies. In simple terms, hashing power simply defines how fast your hardware can mine cryptocurrencies by solving critical mathematical equations per second. The more the hash rate, the more you will be able to mine and earn more.

What are the most used units for hash rate when mining?

It is important to keep in mind that there are different power units available that define the hash rate. The hash rate unit solely depends on the hardware, software, or algorithm you are using to mine a particular type of cryptocurrency. Many mining software even allows the users to choose their own mining unit, but of course, the end results remain the same. 

These are the most used units for mining hash rate:

  • H/s: Hashes per second
  • Mh/s: Mega hashes per second
  • Sol/s: Solutions per second
  • Gh/s: Graphs per second

The most accurate ways to calculate hashing power

There are certain ways available on the internet that can help you calculate the hash rate accurately. You can take a look below and find out how it can be done.

Online hash rate and profitability calculators

Probably the fastest and easiest way to calculate the hash rate of your mining rig or ASIC miner would be to visit an online hash rate calculator and get the job done within seconds. The best thing is that there are several hash rate calculators available on the internet that provide nearly-accurate results along with the option to tweak the settings as per your preferences. Not only that, some calculators even allow you to calculate the overall profit, too, which would give you an idea of how much you will be able to earn with your rig.

In case you are wondering what the best online hash rate calculators are, don’t worry; we have got you covered. Just take a quick look below:

WhatToMine

Hands down, WhatToMine is the most diverse hash rate calculator that you can find to see what your rig or hardware can actually do. The reason why WhatToMine is being recommended by almost everyone is that the website offers countless hardware choices to choose from, increasing the chances of you finding the hardware you have listed there. Besides that, WhatToMine also allows the users to calculate hashing power of ASIC machines too, along with some tweaking options that you can use.

At WhatToMine, you can also select the number of GPUs you have along with which particular model you are using. After selecting the appropriate options, the websites provide you with the hashing power you would be getting on different mining platforms. The same scenario goes with ASIC machines, as you can also evaluate your machine’s hashing power with the help of WhatToMine.

NiceHash

NiceHash is not just a hash rate calculator, but it is a full-fledged crypto mining platform that allows users to mine cryptocurrencies too with their hardware. In order to calculate your hashing power, you can head to the platform and select their profitability calculator from the menu. That is where you can manually select the hardware, whether it is GPU or CPU, or ASIC machines, to get the results accordingly. You will not only get the hash rate but a precise profit ratio as per the rate of cryptocurrencies for that time.

Run benchmarks through mining software

If you know computers and understand how different computing brands work, you would know that there are countless variants of a single graphics card. For instance, there are top-tier brands like MSI and Asus, and then there are the brands like Colorful and Palit that are considered medium-tier. That is where the difference between their mining power comes in, leaving you no choice but to run benchmark tests in order to get accurate results.

The online calculators mentioned above give you an estimate or average, but the scenario might differ particularly for your case, depending on the hardware you have. That is why it is a better idea to run benchmark tests and then determine your hashing power. To get started, you can download the following benchmark software that will easily help you determine what the hash rate of your components is:

NiceHash

As I have stated earlier, NiceHash is a fully-fledged mining platform, and that is why it was impossible not to include it in the list of benchmarking programs. NiceHash also allows miners to benchmark their hardware, whether CPU, GPU, or ASIC machine, and get accurate results. All you will have to do is download the NiceHash mining software, and you will be good to go.

CGMiner

CGMiner is another great crypto mining platform and software for GPU and ASIC miners. The software first evaluates the performance of your hardware and then starts the mining process for you to start earning. But with the performance evaluation, you can get the idea of the hashing power of your hardware and see how efficiently you can mine cryptocurrencies.

Final words

If you are planning to get your hands on particular mining hardware, then it is best to check out online rate calculators and get an estimate of hashing power. If you have already got your hands on the mining hardware, then it is best to download benchmarking software and get precise results regarding the hashing power. Also keep in mind the electricity consumption too in order to see how much profit you will be able to make with your mining rig.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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