What Will Bitcoin Mining Be Like in 2026? Is it Worth it? - Crypto Economy

TL;DR

• After the 2024 halving, the reward for mining a Bitcoin block dropped to 3.125 BTC, reducing profit margins and forcing miners to diversify their income.
• In 2025, the average hashprice fell from $55 to $35 per PH/s, while operating costs rose to $70,000 per machine, making access to cheap energy crucial.
• Individual miners face serious challenges in remaining profitable due to the professionalization of the sector.

Bitcoin mining has become increasingly demanding since the 2024 halving, which reduced the reward per block to 3.125 BTC. This change compresses miners’ margins and forces a rethink of business models: even publicly listed companies with substantial cash reserves have struggled to remain profitable relying solely on mining.

In 2025, the average hashprice dropped from $55 to $35 per PH/s, while operating costs climbed to around $70,000 per machine, increasing pressure on margins. Bitcoin’s volatility, which rose to $126,000 in October before retreating below $80,000, directly impacted miner revenues. Profitability now depends not only on scale but also on access to cheap energy and participation in transaction fees.


Diversify or Disappear

Faced with this challenging environment, public miners are seeking to diversify revenue streams. Companies such as HIVE, Core Scientific, MARA, Hut 8, Riot Platforms, TeraWulf, and IREN are repurposing parts of their infrastructure for artificial intelligence and high-performance computing workloads. These operations leverage existing power, cooling, and data center space, generating alternative income that stabilizes cash flow and reduces dependence on Bitcoin block rewards.

The market is also showing a clear trend. Mergers and acquisitions among miners aim to optimize costs, expand capacity, and improve operational efficiency. At the same time, public miners’ exposure to Bitcoin as a treasury asset contributes to greater financial volatility. Holding large BTC reserves creates fluctuations and often requires financing through debt or equity issuance, increasing the risk of shareholder dilution.


Domestic Mining Is Almost No Longer Profitable

For individual miners, mining has become increasingly unviable. It requires specialized hardware, cheap electricity, and access to reliable mining pools. Without these conditions, home-scale operations incur losses. The professionalization of the sector has concentrated mining capacity in large companies that can cover costs, optimize operations, and access financing.

In 2026, Bitcoin mining will be defined by efficiency, diversification, and effective risk management. Margin pressure, innovation in AI and HPC, and corporate alliances will determine who survives in an increasingly competitive industry. Those who balance costs, infrastructure, and liquidity will maintain their position, while smaller operators may be forced out