The 2025 Bitcoin Mining War Escalates, Halving Pressure Ignites an Energy Arms Race

The Bitcoin halving in 2024 is set to shake the industry, with miner rewards cut in half, leading to a sharp decline in mining profits and presenting huge challenges for the industry. Despite this, Bitcoin hash power has surged against the trend, peaking at 921 EH/s in early May, a staggering increase of 77%. Mining giants are investing heavily in upgrading to ultra-efficient mining machines to seize the high ground in energy efficiency.

The latest ASIC miners such as Antminer S21+ and WhatsMiner M66S+ have significantly reduced energy consumption, combined with the 3-nanometer chip revolution from TSMC and Samsung, ushering in a new era for mining hardware. Energy costs have become the biggest variable: Oman has an electricity price of about $0.05 per kWh, while the UAE is even lower at $0.035, making it a favorite for institutional mining farms; in contrast, electricity prices in the United States are high, prompting miners to relocate, with Africa, the Middle East, and Central Asia becoming new battlegrounds.

After the halving, hash revenue plummeted by 60%, creating immense profit pressure. Miners are relying on more energy-efficient and smarter operations to carve out a survival path. In the next 1-2 years, AI computing and regulatory dynamics will continue to reshape the mining landscape, and who can emerge victorious in this war of energy and efficiency will be the focus of global attention!