Is Mining Still Profitable? 3 Things To Know About Crypto Mining Right Now
Written by
Joel Lim
Edited by
Rebekah Evans
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Back in 2009, when bitcoin was created, most people wondered whether cryptocurrency was just a phase. Now, more than 15 years later, most people are wondering whether they can still get in on this highly profitable work.
Mining or validating crypto transactions in exchange for newly minted cryptocurrency, has earned some early miners millions in bitcoin and other cryptocurrencies. Today, while the work is not quite as profitable, you could still make a good profit from the laborious task of solving complex mathematical problems to add transactions to the blockchain.
GOBankingRates talked to experts in their field to find out just how profitable crypto mining can be — here’s what they had to say.
Yes, Mining Is Still Profitable
Mining is still a profitable investment. Or, at least, it can be. There are many factors to consider when it comes to making money as a crypto miner. You need powerful computer hardware and software that can move and “think” fast.
If you already have this set up and if you can keep your equipment updated and constantly evolving, you can net, on average, $10.79 per day after all of your other expenses, according to CCN.com. It also depends on the type of cryptocurrency you’re mining as well.
“It is no longer profitable as an individual to mine bitcoin today. With the cost of mining one bitcoin in 2025 going over $100,000 in the U.S., the math just doesn’t add up. Other than the mere cost of physical hardware, mining also requires a significant investment into energy and skilled maintenance staff working around the clock. This leaves only tech giants with billions in funding being able to justify this investment due to the economies of scale,” said Leo Fan, co-founder of Cysic, a company that does trustless, scalable and monetizable computation.
Dogecoin may be a viable option, though. “They require less energy (1.1 million kWh per BTC vs 1.71 kWh per DOGE), which significantly reduces overall cost,” he added.
Remember That Mining Takes Power
Though mining can be profitable, especially if you already have the necessary equipment, there are many other factors to consider that could eat into your profits.
For one, mining requires an enormous amount of electricity and the price of power is only rising. The profitable rate for mining crypto is around 5 cents USD per kWh, according to Cambridge Centre for Alternative Finance. In most states, that’s impossible at regular residential rates. But it’s not all bad news.
The good news? According to World Population Review, miners in areas like Cuba are seeing rates as low as 1 cent per kWh, with Argentina seeing rates as low as 2 cents per kWh, which could mean higher profit margins. So if you can keep your electric bill down while running all of those calculations on high-powered equipment, you could come out ahead.
You’d Better Be Serious About This
Still, even with all this great news, mining is not for the faint of heart. And it’s not for novices.
“Mining is still profitable only to those who are serious about it. Gone are the easy entry days. Mining is much more challenging when compared to staking or even holding. You are not dealing with price movement, you are dealing with machines, uptime and market risk. It is not a matter of technical skill but of operational discipline and a clear view of the cost of the problem and its payback,” said Juan Montenegro, founder of Wallet Finder, a company that helps traders copy top DeFi traders.
So, if you’ve got both the equipment, the time and the expertise, yes, you can still see a profit. There’s one caveat.
Mining Is a Business
That’s right. Mining is no longer a hobby you can do a little here and a little there.
“The high prices of energy, greater competition and unceasing hardware maintenance turned mining into a business rather than a hobby. It requires attention, scheduling and flexibility to change with the times,” Montenegro said.
Mining is a job. If you’re an entrepreneur, it’s your business. It’s your baby. You’ll be up late at night and at your computer again early in the morning. Is it worth it? Yes. It certainly can be. But it’s also a huge risk with lots of competition and tons of downsides. So weigh your options well before taking that leap.
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