How does Simple Mining calculate hosting fees for miners?

At Simple Mining, our goal is to provide accurate billing that aligns your electricity usage to the performance of the mining units that we host. Our calculations are based on the average actual hashrate performance of each miner per month against its nameplate efficiency.

The calculation formula

Electricity Cost = Average Hashrate × Unit Nameplate Efficiency (in kilowatts per terahash) × 24 Hours × Rate per kWh × Number of Days In The Month

How performance affects cost

When a miner is hashing at a rate higher than its nameplate hashrate, it is also consuming more power and earning more bitcoin. Conversely, if a miner is hashing at a lower rate than its hashrate, it is drawing less power, resulting in a decrease in electricity costs.