Bitcoin trades at $82,581. We mine it at $52,468, 36% below market. Own the machine. Own the Bitcoin.
Don't buy the Bitcoin. Buy the machines that make it.
You're weighing three ways to put money into Bitcoin: buy it today, average in over a year, or own hashrate. This page runs all three on your dollar amount, side by side, with live market numbers, so the decision is arithmetic instead of opinion.
Live market
mempool.space feedBitcoin
$82,496
Hashprice
$39 /PH/day
Your cost to mine
$53,506
per coin, all-in
Discount to spot
35%
at today's price
Breakeven
$36.14
hashprice floor
Slide to the number you're thinking about.
Everything on this page recalculates from this one input. The other dials are here so you can stress it.
Capital deployed
$500,000Hashrate
25.0 PH
Price per petahash
All-in: hardware, install, deposits
Electricity
Fixed for the term
Hashprice $/PH/day
$39
Opens at today's network hashprice plus $2 for transaction fees. Drag it down to see what a bad year looks like; below $36.14 Gasbox carries the loss, not you.
Your tax rate
37%
Machines you own
58,140
Bitmain S21e XP Hydro, 430 TH each, titled to you
Power under contract
325 kW
13 J/TH, the most efficient class shipping today
Your annual return
$90,840
$7,570 a month, paid weekly in Bitcoin
Cash-on-cash
18.2%
28.8% on cash at risk after year-one tax savings
Bitcoin to you per year
1.10 BTC
4.31 BTC mined gross at today's price
Year-one tax savings
$185,000
§168(k) bonus depreciation at 37%
Where the money goes
One year, 25.0 PH, at $39 hashprice
Formula, same as the operating agreement: (gross − electricity − insurance and ops at $2.19/PH/day) × 95% uptime guarantee, and you keep 70% of what's left.
The ledger
Gross mining revenue
$39 × 25.0 PH × 365 days
$355,875
Electricity
13 kW/PH × 24h × 7.0¢ = $21.84/PH/day
− $199,290
Insurance and operations
$2.19/PH/day
− $19,984
Net mining profit
After the 95% uptime guarantee
$129,771
Gasbox management, 30%
− $38,931
You keep
18.2% cash-on-cash · payback 5.5 years, 3.5 after tax
$90,840
Same dollars. Three ways in. Count the coins.
Spot buys it all today. Dollar-cost averaging buys a twelfth every month for a year. Hashrate mines it, week after week, and hands you a tax deduction on the way in. Pick a horizon and a price path; the chart counts Bitcoin, not dollars, because that's what you'll own at the end.
Horizon
Bitcoin price per year
+20%
Bitcoin accumulated, month by month
- Buy today
- Dollar-cost average
- Own hashrate
Mining halves in April 2028, and any month below breakeven pays zero under the agreement; both are in the green line. The machines are still yours at the end of the horizon and their resale value is not counted here.
Buy today
Coins
6.06
Value
$864K
Tax saved
—
One price. No income. No deduction.
$864K
Dollar-cost average
Coins
5.50
Value
$784K
Tax saved
—
Twelve buys. Pays more per coin if the price rises.
$784K
Own hashrate
Coins
2.28
Value
$325K
Tax saved
$185K
Weekly coins, a year-one deduction, and the machines.
$510K
Value at month 36 with Bitcoin at $142,553. Hashrate total adds year-one tax savings as cash. It does not add the resale value of 58,140 machines, which is yours too.
Five things a Bitcoin in a wallet can't do.
It pays you every week
Bitcoin sitting in cold storage earns nothing. Hashrate settles to your wallet every week through the Luxor pool. At today's hashprice your position pays about $1,747 a week, in coin, whether the price moved that week or not.
It cuts this year's tax bill
Mining hardware is 5-year property and qualifies for 100% bonus depreciation under §168(k). Deploy $500K and deduct $500K from this year's income. At 37% that is $185,000 back in year one. There is no version of buying Bitcoin that does this.
It has leverage to price without borrowing
Your electricity is fixed at 7.0¢. Your revenue moves with Bitcoin. When the price rises, every dollar above your cost to mine is margin, and the margin widens faster than the coin does.
The downside has a floor
If hashprice falls below $36.14, Gasbox covers the shortfall. Your worst year is zero, not negative. A coin bought at $82K has no floor at all.
It's a business, not a bet
You own titled equipment in a US facility with an operating agreement, weekly settlement, a live dashboard, and a PDF your accountant can file from. That changes how a bank, a partner, or the IRS looks at it.
And it's the only way to get new coin
Every Bitcoin you buy on an exchange arrives with a history. Mined coin doesn't. Read the next section.
Bought coin has a past. Mined coin has none.
A Bitcoin is a ledger entry, and the ledger is public forever. Where a coin has been is part of what you own.
Exchange coin carries every prior owner
Coin you buy has moved through wallets you'll never know. Chain-analysis firms score it, exchanges flag it, and a coin that once touched a sanctioned address can freeze an account years later, through no fault of yours.
Mined coin is issued to you by the protocol
Block rewards are new supply. The first transaction in a mined coin's life is the one that pays it to your wallet. No prior holders, no history to score, nothing to explain.
That is why miners' coin trades at a premium
Institutional buyers have paid above spot for freshly mined Bitcoin precisely because it is clean by construction. Owning hashrate puts you on the selling side of that premium instead of the buying side.
Two coins, same price, different asset
Exchange coin
Your mined coin
Mined Bitcoin is still Bitcoin: public, auditable, and reportable. What you get is a coin with no prior history, not an invisible one.
The deduction Bitcoin can't give you.
Mining hardware is five-year property. Under §168(k) you deduct 100% of it in the year it's placed in service. The purchase price becomes a deduction, and the deduction becomes cash you didn't send to the IRS.
Your year one, in cash
Hardware placed in service
Titled in your name, deployed at a US facility
$500,000
Deduction under §168(k)
100% bonus depreciation, five-year property
$500,000
Tax saved at 37%
$185,000
Mining income, year one
Your 70% of net, at today's hashprice
$90,840
Cash back in year one
55% of what you put in
$275,840
Net cash still at risk
Against 58,140 machines you own and 1.10 BTC a year
$224,160
What qualifies
ASIC miners are 5-year MACRS property. The same section trucking companies and data centers use. Title has to be in your name, which is why Gasbox sells you the machines rather than a share of a pool.
The December 31 line
Equipment has to be energized by year end to count for that year. Deposits reserve build slots; the hosting site energizes in order. Late buyers wait for the next batch.
Who it works for
Business owners, K-1 recipients, and anyone with active income to offset. Pure W-2 earners usually need an entity. Your CPA confirms the fit; ours has done this filing.
Finance half, deduct all
Put half down, finance the rest at 12% on a recourse note, and the deduction is still the full $500K. The tax savings alone can exceed the cash you put in. Ask about it on the call.
Tax figures are illustrations at the rate you set above, not advice. Several states, including California and New York, do not conform to federal bonus depreciation. Confirm your position with your CPA before you rely on it.
You'll see every satoshi, every day.
Every Gasbox client gets a live dashboard: machine status, daily hashrate, hashprice, weekly payouts settled to your wallet, hosting invoices, and a one-click PDF your accountant files from. This is what yours looks like, built from the numbers you set above.
gasbox.org/pulse · your account
Next payout
0.0212 BTC
≈ $1,747 · settles Friday via Luxor
Machines online
58140 / 58140
Hashrate
25.0 PH
Uptime, 7d
97.4%
Hashprice
$39
Weekly payouts
last fiveFor your accountant
Numbers here are a preview built from your inputs. Your live account fills with real payouts from the first week online.
Plain terms, one page.
Price per PH
$20,000 all-in
Hardware
Bitmain S21e XP Hydro, 430 TH, 13 J/TH
Title
Yours. Serial numbers in the agreement
Electricity
7.0¢ / kWh, fixed
Insurance and operations
$2.19 / PH / day
Uptime guarantee
95%, credited when missed
Split
70% you, 30% Gasbox, on net profit
Payouts
Weekly, Luxor pool, to your wallet
Downside
Below breakeven hashprice, Gasbox covers it
Term
1 year, then month to month
Everything is written down.
The calculator, the agreement you'd sign, and the tax mechanics, each on its own page.
Bitcoin mining profit calculator
The public version of the model on this page, with a seven-year projection and the halving built in.
Operating agreement, $1,000,000 draft
The actual document: hashrate, pricing, uptime credits, repairs, payouts, and exit. Read every line.
Tax benefits and the financed structure
How §168(k) works, who qualifies, and the half-down, 12% note version of the same deduction.
Gasbox Terminal
Live network, hashprice, difficulty, and macro. The same feed this page reads.
The ones everyone asks.
$500K buys 58140 machines, 1.10 BTC a year, and $185K off this year's taxes.
Thirty minutes on a call and we walk your exact numbers, the agreement, and the energization date. If it doesn't hold up, you'll know before you send a dollar.