I am trying to find an equation that can represent an instantaneous estimated mining profit if we were to assume we have M number of miners at that specific instant.
The equations I found so far can be summarized as follows:
D = Difficulty H = Mhash/s C = Reward (currently 25 BTC)
24 / (D * 2^32 / (H * 10^6) / 60 / 60) * C = BTC/day
My questions are:
What does the 2^32 represent because no one really explained it well although mentioned more than once, however lacking explanation.
How can we introduce M to this equation to an instantaneous estimated profit?