How Much Helium Can You Mine With Bobcat Miner 300? 2023 Guide

The post will answer the question of how much helium can you mine With Bobcat Miner 300 and show you how to earn more with this miner.

still Given the current value trends in HNT and the volume of HNT that is being mined successfully, I believe 2023 will be a fantastic year for helium mining. The potential for an increased number of observers nearby your hotspot is insane given that so many people will be receiving their miners in late 2022. So choosing the right helium miner is crucial if you want to win this contest. You should choose the Bobcat Miner 300. So how much helium can be extracted with the Bobcat Miner 300 and how can you earn the most money? For the solution, continue reading.

Read more: How to Mine Helium in 2023 – Comprehensive Guide

Is Helium Mining Still Beneficial?

Contingent upon your area, the current benefit of Helium mining can be extremely high. We can see from the diagram that a few Hotspots are acquiring more than $2,000 every month. Whatever the case, the current benefit of helium cannot be justified and was not intended to remain this high.
What is the cost of operating a helium miner?
Although getting into Helium mining isn’t free, the upfront cost is less than mining Ethereum. The most popular full-included miners cost around $450. My favorite aspect of helium mining is that the miners use almost no power, which means they also make no heat or noise.

Read more: Is It Still Profitable to Mine Helium Coin (HNT)? Find Out!

How Much Money Can You Make With a Bobcat Miner?

So, in an effort to help you find an answer, I’m going to make a few assumptions. Let’s assume that you’re buying a bobcat miner 300. It costs $526 dollars in total after shipping, taxes, and taxes.

If I look at my own earnings, I make about 0.04 helium per day, but the network’s average earnings are about 0.097 helium per day. Your profitability is significantly influenced by the typical daily output. The amount of helium you can produce in your region will determine whether or not it has a good potential return on investment.

If you’re wondering how the hell I’m supposed to figure out what my typical income would be, read on. You just go to the helium explorer, click into the area that you live in, and just see what other helium miners are making.

This helium miner, for instance, earns 1.41 HNT (over 30 days), while the other one earns 1.76 HNT (over 30 days), just choosing these miners at random in a randomly chosen location.

You can assume that’s about how much you’d make in HNT per day for an average setup if you set up a miner in this area. To determine what is reasonable, input your assumptions into an ROI calculation.

In this illustration, we’ll begin with the network’s typical earnings and work with the numbers using the $21 per kilogram price of helium as the starting point. A profit of about $61 is anticipated for the first month. The problem with helium mining is that as more miners start operating, everyone’s profitability declines (especially if the price of helium stays flat). I took a look at the miners that came online over the previous 30 days in order to calculate the potential monthly production reduction you might experience. I observed an increase of about 10% in the number of online hotspots.

Therefore, it is reasonable to assume that your production would decrease by roughly 10% each month moving forward. Helium uses proof of coverage, so it uses perhaps $1 to $2 in electricity each month. If the price of helium stays the same, you don’t have data charges, and your production declines, your profits per month would also decrease. However, overall, you would still have an 82% ROI, which is excellent from a conventional perspective.

How Long Will Helium Mining Be Productive?

HNT will continue to be stamped for an additional 50 years under the current schedule. even though year 50 only increases by 3.6 HNT. According to the Helium project, the first division puts the program on the path to reduced network mining compensation and increased awards for information move.
What is the maximum depth that helium miners could go?
The reach relies upon the climate: Rural regions: ~10 miles or more. Thick regions: ~ 1 mile.

How to Earn More With Bobcat Miner 300

Want to use your Bobcat Miner 300 to produce the most HNT possible? Here are some things to think about before buying a Bobcat miner 300, and we also advise you to do the same before deciding whether or not to join The People’s Network!

Prime Location for Helium Mining

It is first important to determine if you are in a good location for helium mining. Your ability to earn HNT depends heavily on the location of a Bobcat miner 300.

All hotspots on the network can be found on the Helium Explorer (the map is represented as hexagons; if interested in how this mapping system works, check out this article). To start, find out how other miners nearby are performing. This explorer will display the number of hotspots in each hexagon as well as the total amount of HNT mined over the previous 30 days. It might not be a good sign if there are too many underperforming miners in your hex or if there are no other miners in the area.

The ideal hotspot location is close enough to other hotspots to receive their signals but not too close.

Even though the Helium Explorer does not display the precise hotspot locations that the owner has pinned, Hotspotty does. Using this data, drive-by hotspots nearby to see if the owner’s setup is visible. By contrasting setups with data on the explorer, this can help determine what having a similar setup in the area can earn. If you believe that your setup can be superior to that of the majority of hotspots in your neighborhood, great! Your earnings will probably increase.

Understand How Reward Scaling Affects Your Earnings

Proof-of-Coverage (PoC), or compensation for being seen or for witnessing, is likely to account for the majority of rewards. Originally all PoC rewards were divided equally; however, to promote the installation of hotspots in areas with insufficient coverage and penalize hotspots in areas with duplicate coverage, reward scaling was introduced. The rewards earned when being witnessed or witnessing depend on two things:

1. The number of witnesses
2. The number of hotspots in the hex tile of the transmitter

The Helium Improvement Proposals (HIP) go into great detail about these; in particular, HIP15 and HIP17 provide a thorough explanation of how rewards are determined. Here are some summary points for them:

HIP15

• Transmitters earn more money when there are more witnesses.
• Witness: each additional witness past a total of four reduces what is earned by each witness in that challenge.
• Randomly shuffles the valid received witness receipts, and selects up to 25 of those valid to write to the chain.

HIP17

• The Witness earns less if the number of Hotspots in the area of the Transmitter exceeds the “target density”. As described in the HIP and indicated by several chain variables, target density varies by hex resolution.

Transmit Scale

It may be difficult to understand the underlying scaled rewards calculation, but what we really need to know is if the potential transmit scale (previously named reward scale) value for your hotspot is 1.0 or very close to 1.0. Transmit scale is a multiplier (0–1.0) that is applied to your rewards and represents the density of hotspots nearby.

Starting with the hotspots close to you on Helium Explorer, we can examine the transmit scale values. Pay close attention to the transmit scale values of the hotspots in your hex in particular because you are likely to find similarities there. Although this value is based on multiple ranges in areas of density and not just the density of your hex, it should be noted that your transmit scale may differ from others in your hex. Also, adding your hotspot to the Helium blockchain could potentially reduce the transmit scale of others around you, as this does make the hex denser.

Check out Hotspotty to learn more about a hotspot’s transmit scale in detail. The reward scaling tabprovides tons of useful insights and has the functionality to edit placements of current hotspots. To get an idea of your transmit scale value, select a random hotspot and then edit its location to the location where you intend to place one.

Note: You need to be signed in with Discord to access all data on Hotspotty.

As this is just a multiplier, having a low transmit scale does not necessarily mean that your earnings will be low. Your setup and the number of hotspots you can connect to are a couple of the other factors that affect how active your hotspot is.

Elevation of a Potential Hotspot Location

How high up is a potential hotspot location in relation to the nearby buildings or land is an important question to ask. Your signals are not being blocked off if the elevation is generally higher than the area around it, making it an ideal location for a Bobcat miner 300. On the other hand, this might not work well for you if your location is low lying or in a valley.

Summary: Mine With Bobcat Miner 300

According to the information above, Helium mining is still a wise investment, and you’ll be able to gauge approximately how much you can earn, based on your location.

From an investment standpoint, determine how long it will take you to recover your initial investment based on the information you have gathered. Investors should be data-driven.

FAQs