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 decreasing from 6.25 Bitcoin to 3.125 Bitcoin. This change forced miners to reassess their operational strategies, optimize efficiency, reduce energy costs, and upgrade equipment to maintain profitability. Cointelegraph Research, in collaboration with Uminers industry experts, provides an in-depth analysis of this transformation in the latest report. The research covers ASIC efficiency improvements, 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 country 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 impacts of the halving, the Bitcoin network's hashrate continues to rise. As of May 1, 2025, the total network hashrate has reached 831 EH/s. At the beginning of the month, the hashrate briefly peaked at 921 EH/s, a 77% increase from the low of 519 EH/s in 2024. 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. As energy costs rise, the latest ASIC models from Bitmain, MicroBT, and Canaan further optimize the energy required per hashrate. Bitmain's Antminer S21+ offers 216 TH/s of hashrate with an 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 after the 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 soared to a historical high of 123T, making it harder for miners to achieve returns. To remain competitive, mining operations must extract maximum value from every watt of electricity consumed. This shift has intensified the search for cheap, reliable electricity, driving mining businesses to expand into regions where energy costs remain low.
Electricity prices now determine mining profitability. In Oman, licensed miners benefit from government-supported subsidies, obtaining electricity at a price of $0.05-$0.07 per kilowatt-hour, while in the UAE, semi-government projects operate at a lower price of $0.035-$0.045 per kilowatt-hour. These incentives have transformed the region into a preferred destination for institutional-grade mining. Meanwhile, in the United States, industrial electricity costs typically exceed $0.1 per kilowatt-hour, 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 necessary for miner survival.
The halving event in 2024 has highlighted 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 continuous evolution of hardware technology will continue to reshape this industry landscape in 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.
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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 in the article are solely those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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