Honest maths
Is home Bitcoin mining worth it in Australia?
As an investment at grid prices, usually not. As a hobby, a lottery ticket, a heater, or a way to support decentralisation with surplus solar, it can be. Here are today's numbers.
| Miner | Power | Cost/yr VIC (28.2c) | Cost/yr on solar (5c) | Pool earnings/yr |
|---|---|---|---|---|
| Bitaxe Gamma 601/602 (BM1370) | 18 W | $44 | $8 | $20 |
| NerdQaxe++ (incl. Rev 6.1 / Rev 7) | 80 W | $198 | $35 | $81 |
| Canaan Avalon Nano 3S | 140 W | $346 | $61 | $101 |
| Canaan Avalon Q | 1,674 W | $4,135 | $733 | $1,520 |
Computed 2 Nov 2026, 2:45 am AEDT: difficulty 148.4 T, hashprice 42.6 sats/TH/day, BTC $110,885, 2% pool fee. Tariffs are 2026–27 default offers (approximate). Excludes the purchase price.
What changes the picture
- Solar: running on surplus solar means your cost is the feed-in tariff you give up, often single-digit cents.
- Heat: every watt becomes heat. In a Melbourne or Hobart winter that offsets a heater; in a Brisbane summer it adds to your aircon load.
- The lottery: a Bitaxe Gamma has roughly a 1 in 16,800 chance per year of a full block (about $348,153 today). Unlikely, but it happens: see the solo blocks.
- Sovereignty: pairing a miner with your own node and DATUM/OCEAN or a self-hosted Public Pool means you choose the transactions in your block template.
Things Aussies should know
- Noise: Avalon Nano and Bitaxe are quiet-ish; the Avalon Q and bigger ASICs are not apartment-friendly.
- Tax: the ATO treats mining as a hobby or a business depending on your circumstances. Get advice.
- Safety: don't run high-wattage miners on power boards, and respect circuit limits.
Not financial advice.