Bitcoin Mining in 2025: Challenges and Changes After the Halving

Bitcoin mining has changed dramatically following the 2024 halving event. Miners now face tougher conditions as block rewards dropped from 6.25 BTC to 3.125 BTC, forcing the entire industry to find new ways to stay profitable.

Despite these challenges, Bitcoin’s network hashrate continues to grow. As of May 1, 2025, the total computing power reached 831 EH/s, with a peak of 921 EH/s earlier in the month. This marks a 77% increase from 2024’s low of 519 EH/s, showing miners are adapting quickly.

How Bitcoin Mining Companies Are Surviving

The biggest change in the mining world is the intense focus on power efficiency. With less Bitcoin reward per block, electricity costs now make or break mining operations.

Leading companies are upgrading their equipment to stay competitive. Bitmain’s Antminer S21+ now delivers 216 TH/s at 16.5 J/TH, while MicroBT’s WhatsMiner M66S+ achieves 17 J/TH with immersion cooling.

Semiconductor giants TSMC and Samsung are pushing innovation forward with 3-nm chips already in use and 2-nm technology coming soon.

Hashprice (daily revenue per terahash per second) has fallen dramatically from $0.12 in April 2024 to about $0.049 by April 2025. At the same time, network difficulty has hit an all-time high of 123T, creating a double challenge for miners.

The Global Energy Hunt

Location now matters more than ever for mining operations. Countries offering cheap electricity have become mining hotspots:

• In Oman, government-backed subsidies give miners electricity at $0.05–$0.07 per kWh
• UAE semi-governmental projects operate at even lower rates of $0.035–$0.045 per kWh
• US miners struggle with industrial power costs often above $0.10 per kWh

This cost difference is driving a major shift of mining operations to Africa, the Middle East, and Central Asia, where energy costs remain lower.

Looking ahead, the industry is moving toward smaller, more efficient operations. Only the most power-efficient miners will survive long-term. The growing AI computing sector, changing regulations worldwide, and advancing hardware technology will shape Bitcoin mining over the next 12-18 months.

The message from industry experts is clear: efficiency isn’t optional anymore—it’s essential. Miners who can’t optimize their power usage and find affordable electricity sources will struggle to compete in this new, tougher mining landscape.