Everything you want to know about cryptominers

What exactly does a crypto miner do?

Did you know that banks depress the economy by 1.5% annually? With a miner you contribute to a new financial currency system. A cryptominer is in fact the bank employee who processes and approves transactions all day long. He does this for a crypto network of his choice. So a cryptominer is actually a calculation miracle employed by a bank and you are rewarded for executing and approving those transactions.

When you mine Ethereum, the miner is simultaneously calculating hard for the last piece of code in the block of the blockchain. This is the very last piece of code before all transactions are sealed online in the blockchain. Every 10 to 19 seconds a block is sealed in the blockchain. The mining pool that correctly guesses this last piece of code wins 12 Ethereum collectively.

The amount of transactions that your crypto miner performs depends on the MHs (MegaHash) per second. This is the computing power of the miner. The higher the computing power, the more transactions you process/approve and the more you earn. When your mining pool wins 12 Ethereum, it will be divided evenly based on the computing power you provide.

Is mining still profitable?

Crypto currency mining has been profitable for a long time, but the most recent bullrun has made cryptomining incredibly lucrative. The payback time for a business purchase of a miner through MinersNetherlands at a stable exchange rate is about 1-2 years.. And this is INCLUDING the electricity costs! Do you want to know exactly how much you mined? Then take a look at our miner shop, it says per miner how much revenue you get in euros at the current exchange rate!

Calculate your returns

You can easily check the mining revenue yourself via our website. We have a handy yield calculator for every miner. This calculates the estimated yield if you had a miner today.

How high are the electricity costs?

At Miners Europe we adjust your crypto miner in such a way that we realize a maximum yield compared to minimal electricity costs. The exact electricity costs are of course entirely dependent on the personal situation.


In case of a business rate, our GOKU Crypto Miner consumes about €3.55 per day. Converted, that is € 108.01 per month. From a business point of view, you get (at a sole proprietorship) no less than 33% profit exemption on the electricity costs incurred.


Private electricity is on average €0.22 per kWh. Our largest miner GOKU uses private electricity for € 6.51 per day or € 191.91 per month. From a private point of view, this gives a very nice return even at a low price at the moment! Do you want to know exactly how much power the miner costs in your situation? Send us a message with your electricity rate and we will calculate it for you.

What happens if the value of the coins I mine drops?

There are no eurominers, only cryptominers. As a miner you soon learn that it is better to look at the total number of coins than at what it is worth in euros at that moment. Because if the exchange rate is low, you will of course not cash out. When that price then rises again, the whole of the revenue you have mined rises.

What happens if many transactions go through the network?

When there are many transactions going through the network, the market is volatile. At such times you earn the most. These are the days when the market is extremely bullish or extremely bearishis. We have even measured days when the daily earnings were as much as 4 times higher because it was bleeding red numbers on the exchanges. This is because at such times a very large amount of transactions go through the network. As a miner, you get a portion of that fee.

Do I need anything else to start mining?

A frequently asked question is whether people need a computer screen to monitor the yields. Our answer: NO! No external equipment is required to read the crypto miner. You can easily operate the cryptominer through your mobile app. For example, if you are on vacation and the power is out, you can turn the miner back on remotely.

Internet: wireless or fixed?

For the Miners Europe crypto miner, the speed of the internet does not matter. It is important that we can connect the miner via a LAN cable. This is because a LAN cable gives stable internet. If this is not possible or if you simply find it impractical, we have an ideal solution. You can connect a WiFi router for €20 per month (+ a one-off €49.95).

You can see the transactions as .txt files full of codes that are constantly uploaded. The miner uses 6 to 20 MB of data in a day.

How does installation and maintenance work?

Miners Netherlands ensures that the miner is fully installed and linked to your cryptowallet. We link our miners to, among others: Binance, Litebit, Metamask, Trustwallet and Hotbit. You can choose when you want to have the proceeds you have mined paid out. This can be done weekly or monthly or with a certain yield, for example every 0.1 Ethereum.

After the link has been made, we will personally deliver the miner. We teach you how to view the miner settings. Think of the Hashrate per video card, the temperature of the miner, etc. Of course you also see how much the miner earns for you, what he has already earned and what the forecasts are.

We come by every 2 years to replace the thermal paste of the miner. This extends life and reduces the risk of complications.

How long does a miner last?

The manufacturer’s warranty on the video cards is 2 years. Then you have long since earned back your investment with the current market. The miner itself has an expected lifespan of 6 to 10 years.

Private purchase vs business purchase cryptominer

Privately, the payback period is about 1.3 years.

Total purchase price incl. VAT € 17.300,00
Total purchase price excluding VAT€ 13.667,00
Sales tax benefit for self-employed persons up to 68,500*€ 4.289,26
Sales tax advantage for self-employed persons above EUR 68,500 per year*€ 5.719,01
Advantage investment deduction€ 2.001,65
Total end price ZZP up to EUR 68500 profit€ 8.006,61
Total end price self-employed above 68500 EUR profit€ 6.576,86


I want to place the cryptominer at home, but I am worried about overloading the power network.

With one miner at home, this will be absolutely no problem. The power network can handle 3500 Watt. Our largest miner, GOKU consumes 1040 Watt. So, in addition to internet, television and TV, you can also turn on the washing machine, dryer and vacuum cleaner at the same time. Two GOKUs, on the other hand, could give a chance of overload. In that case, we do recommend a 3-phase connection.

Can I mine multiple coins at the same time?

You can mine 1 coin at a time per miner. This is also common. We can imagine that you are a fan of multiple crypto coins. A strategy that some of our clients use is to convert a certain percentage of the mined revenue in Ethereum into a cryptocurrency of their choice. This way, at the end of the day, you are in control of multiple crypto currencies. If you want to convert the cryptominer to another currency, this is one minute of work and of course we will help you with that. With the miners of Miners Europe you can do so much 44 coins minen. A list of these can be found at the bottom of this page.

How do I see how much euros I earn thanks to mining?

Thanks to Hive OS, you can check in real time what you earn in the app. This can be in Euro, Dollar, Ethereum or another currency. You can also see what the monthly forecast is and how much you have already earned. ALL data is real time.

Can the cryptominer be hacked or my proceeds stolen?

As soon as Miners Europe has installed the miner, we can no longer access your environment and this is 100% demarcated. That is also the beauty of blockchain: it cannot be cracked. You are of course responsible for keeping your passwords safe.

Sounds fun, what's the catch?

The nice thing about mining is that it is fairly straightforward. The above information indicates that mining is arithmetic. The math is right. You no longer have to work hard for money. A miner is passive income. An investment in financial freedom. With a cryptominer, you have a bank employee working for you. One who is never sick, doesn’t want vacation days and doesn’t complain about life. Nice too

The catch is that we also do not know how long we can continue to mine Ethereum. Ethereum keeps postponing the release date from proof-of-work to proof-of-stake. Currently, the transition is scheduled for the second quarter of 2022. There are internal rumors within Ethereum that this will be 2023 or even 2025. This has to do with the complexity on which the codes are based and the amount of errors that result from adjustments. Good to know: Ethereum has not yet met any deadlines.

Most of our customers are aware of this and are therefore not concerned about this migration. That is because there are many other crypto coins to be mined. Even if crypto mining hadn’t been profitable, not so many people would have done it. Cryptomining has only become incredibly lucrative since the bull run in 2021. The Chinese bitcoin factories from 2011 to 2014 made little to nothing from bitcoin mining. They believed in the vision of crypto. The owners of those factories are now a kind of demigods within crypto.

It may be that mining becomes less profitable in the long run, but on the other hand we have seen Ethereum increase in value by a factor of 20 in 1 year. All it takes to maximize returns during that uncertain time is one bull run.

You buy a cryptominer because you believe in the long term of crypto. Should it happen (although we don’t expect this) that crypto collapses or comes to nothing, you still have our A++ quality video cards.

Is the miner really as quiet as you promise?

We build cryptominers that are silent so that they do not bother you. You can compare the number of decibels with a small hand fan. Although there are also customers who find it nice / convenient, we do not recommend placing the miner next to your bed or at your workplace because it does give a small constant buzz. Although this hum is present in the background, it can be experienced as disturbing in the long run. The degree of noise production or, to be honest: the degree of noise reduction is something in which we really distinguish ourselves (in addition to the excellent service).

Are there any ways I can (unintentionally) demolish the cryptominer?

At MinersNetherlands, we build every crypto miner with components that meet the very highest Dutch security standards. In doing so, we not only looked at CE certifications, but we only work with the best regarded products. In that process we have learned a lot and you can be sure that your miner is safe in every way.

There is nothing that can ruin the miner without using a lot of force. A cryptominer shuts itself down if there is something it doesn’t like.

Practical example

A customer had our miner installed for less than 24 hours and manually adjusted our settings with the aim of generating 1.5% more computing power, compared to 5% more electricity costs. Should be possible, he thought. Our miner thought otherwise. He put the miner on full power and went on vacation the next day. When he was lying on his beach bed, he received a text message that his miner was offline. We have adjusted and monitored the miner remotely to our optimal settings. In other words: you can tinker with the settings, but as soon as the miner gets overloaded, it shuts itself down for security reasons.

Which cryptocurrencies can I mine with your cryptominer?

*All of the above daily yield statements are based on Ethereum mining.

Can I make an appointment with you to get an impression of the company and products?

Naturally. We understand that this is a significant investment and that you would like to see the faces behind MinersNederland. We usually schedule our appointments on Wednesday and Friday afternoons. Then we give an extensive demonstration of the possibilities. We have a branch in Wormerveer and in Utrecht. If you would like to visit us on another day, please do not hesitate to contact us.

Make an appointment?

Want to know more about our miners or make an appointment to visit? Then contact us by phone at +31 6 363 002 93. No answer? Then try our landline number +31 30 249 6191.