Source: Cointelegraph
Original: “Bitcoin (BTC) Mining 2025: Profitability, Hashrate, and Energy Trends Post-Halving”
After the halving in 2024, Bitcoin mining entered its fifth era, with block rewards dropping from 6.25 Bitcoin to 3.125 Bitcoin. This change forced miners to reassess their operational strategies, optimize efficiency, cut energy costs, and upgrade equipment to maintain profitability. Cointelegraph Research, in collaboration with Uminers industry experts, conducted an in-depth analysis of this transformation in their latest report. The research covers improvements in ASIC efficiency, corporate performance, geographic expansion strategies, and new revenue models. As miners adapt to the new environment, Bitcoin is entering a new era, where institutional investment momentum and sovereign nation adoption may redefine its position in the global financial system.
Download the full report to gain insights into how miners are responding to this transition and the future prospects of the Bitcoin mining industry.
Despite the adverse financial impact of the halving, the Bitcoin network's hashrate continues to rise. As of May 1, 2025, the total network hashrate reached 831 EH/s. Earlier this month, the hashrate peaked at 921 EH/s, a 77% increase from the 2024 low of 519 EH/s. This rapid recovery highlights the industry's relentless pursuit of efficiency, as large mining enterprises strive to maintain profitability through continuous investment in mining machine upgrades and energy optimization strategies.
The arms race among miners has always revolved around energy efficiency. With rising energy costs, the latest ASIC models from Bitmain, MicroBT, and Canaan have further optimized the energy required per hashrate. Bitmain's Antminer S21+ offers 216 TH/s of hashrate with an energy efficiency of 16.5 J/TH, while MicroBT's WhatsMiner M66S+ pushes immersion cooling performance to 17 J/TH. Meanwhile, semiconductor giants TSMC and Samsung are driving the next wave of innovation, with 3-nanometer chips already in use and 2-nanometer technology on the horizon.
Bitcoin mining profitability has significantly tightened post-halving. The hashrate price (daily income per TH/s) dropped from $0.12 in April 2024 to about $0.049 in April 2025. At the same time, network difficulty surged to a historical high of 123T, making it harder for miners to achieve returns. To remain competitive, mining farms must extract maximum value from every watt of power consumed. This shift has intensified the search for cheap, reliable electricity, driving mining operations to regions where energy costs remain low.
Electricity prices now dictate mining profitability. In Oman, licensed miners benefit from government-supported subsidies, obtaining electricity at $0.05-0.07 per kWh, while in the UAE, semi-government projects operate at even lower rates of $0.035-0.045 per kWh. These incentives have transformed the region into a preferred destination for institutional-level mining. Meanwhile, in the United States, industrial electricity costs often exceed $0.1 per kWh, forcing miners to migrate to more cost-efficient areas. Africa, the Middle East, and Central Asia have become key battlegrounds in this race, offering energy arbitrage opportunities essential for miners' survival.
The halving event in 2024 has underscored an undeniable fact: efficiency is no longer optional but a necessity for survival. The industry is shifting towards more streamlined and optimized operational models, where only the most energy-efficient miners can thrive in this environment. The rise of AI computing, adjustments in global regulatory frameworks, and the ongoing evolution of hardware technology will continue to reshape the industry landscape over the next 12-18 months.
Cointelegraph Research's Bitcoin mining report: “Insights and Trends Post-Halving” provides a data-driven analysis that delves into the key factors affecting mining profitability, infrastructure investment, and strategic decision-making.
This article does not contain investment advice or recommendations. Every investment and trading activity involves risks, and readers should conduct their own research before making decisions.
This article is for general informational purposes only and should not be considered or used as legal or investment advice. The views, thoughts, and opinions expressed herein are solely those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Cointelegraph does not endorse the content of this article or any products mentioned within it. Readers should conduct independent research before taking any action related to any product or company and assume full responsibility for their decisions.
Related: Jim Chanos takes a short position on Bitcoin (BTC) and Strategy.
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