Buddy, to be honest, the current mining market is completely a different world compared to five years ago. I still remember back in 2017, I could earn dozens of dollars a day with just one graphics card. Now? Heh, without some real skills and strategies, you can't even cover the electricity costs.
But you say mining is already hopeless? Not necessarily. The way to play has completely changed, shifting from 'competing with equipment' to 'competing with brainpower.' As an old miner who has endured three bull and bear cycles, today I want to share my heartfelt thoughts with you on how to make money from mining in 2025.
1. Market upheaval: from 'family workshop' to 'arms race'
First, let's look at two sets of heart-wrenching data:
The total network computing power has surpassed 1,100 EH/s, which is over 129 times that of 2017, equivalent to 140,000 calculations per person per second globally.
The difficulty of Bitcoin mining has surpassed 129 trillion, and independent miners need to wait an average of 8 years to mine one block, which is even less likely than winning the lottery.
What does this mean? The era of individual miners going solo is over. Those who can survive now are either giants like CleanSpark, which has 50 EH/s of computing power, or 'artisans' who find special advantages.
Strangely, in 2025, there are still cases of independent miners successfully creating blocks with small devices. This indicates that opportunities still exist, just that the rules of the game have changed.
2. Practical analysis of mining five mainstream cryptocurrencies.
✅ Bitcoin: A game for the giants.
Current situation: Block reward is 3.125 BTC, but requires mining rigs like Antminer S23 Pro with a computing power of 210 TH/s to be profitable.
Suitable for: Players with electricity costs below $0.05 per kilowatt-hour and who can invest tens of thousands of dollars at once.
Risk warning: If Bitcoin's price falls below $60,000, most mining rigs will face shutdown.
My own judgment: Bitcoin mining has turned into a 'heavy asset business.' For example, CleanSpark leverages cheap electricity and economies of scale in the U.S. to keep costs very low. Ordinary players looking to participate would be wiser to engage through compliant platforms or choose other less competitive cryptocurrencies.
✅ Monero: A safe haven for retail investors.
Biggest advantage: ASIC-resistant design, allowing mining with just a CPU. A well-configured computer can still yield stable returns daily.
Key data: RandomX algorithm keeps home computers competitive, and the level of decentralization in mining is far higher than Bitcoin.
This is the cryptocurrency I most recommend beginners to start with. Although the returns won't make you rich, its stability is exceptionally high. Especially in the context of growing demand for privacy, Monero's fundamentals are worth long-term optimism.
✅ Litecoin: A steadfast backbone.
Feature: Uses the Scrypt algorithm, differentiating itself from Bitcoin's SHA-256.
Ecological advantage: Can mine Dogecoin in tandem, improving efficiency with one machine for dual mining.
Litecoin is like the 'blue-chip stock' of the crypto world, relatively stable with consistent returns. Suitable for miners who dislike high risks and pursue steady cash flow.
✅ Zcash: A tech-driven player in the privacy track.
Hardware requirements: Equihash algorithm is GPU-friendly, suitable for miners with multiple graphics cards.
Future potential: If zero-knowledge proof technology achieves widespread application, ZEC's value may be reassessed.
But be aware that privacy coins have always faced regulatory pressure. It is advisable to limit holdings to within 10% of total funds as an 'offensive' allocation in the portfolio.
✅ Ethereum Classic: The spiritual home for GPU miners.
Positioning: After Ethereum transitions to PoS, it will become the main gathering place for GPU miners.
Yield characteristics: Highly volatile but with strong explosive potential, suitable for swing trading.
I see it as a 'potential stock.' If there are explosive applications in the Ethereum ecosystem, ETC may benefit first. But I only suggest using 'spare money' for investment.
3. Three survival rules for mining in 2025.
Rule One: Electricity costs determine life and death.
Electricity costs account for 60-80% of mining costs. For example:
In Ireland, the electricity cost of mining one Bitcoin can reach $320,000.
In energy-rich areas, costs can be reduced to the $1,000 range.
Strategy: If electricity costs exceed $0.08 per kilowatt-hour, abandon self-built mines and consider hosting or choosing cryptocurrencies like Monero that are less sensitive to electricity costs.
Rule Two: Hardware selection is more important than computing power.
Do not blindly pursue the highest computing power! The key metric is energy efficiency (J/TH).
Antminer S21 can achieve 17.5 J/TH, while the older S19 requires 29.5 J/TH.
A difference of 1 J/TH could lead to an extra tens of thousands of dollars in electricity costs over a year.
My experience: I absolutely won't buy mining rigs with a payback period exceeding 18 months. The iteration of mining rigs is extremely fast in 2025; the current top S23 Pro may be outdated in a year.
Rule Three: Always have a B plan.
The biggest risk in mining is not price volatility, but policy changes.
China's 2021 mining ban led to a sharp drop in computing power.
Texas, USA, passed legislation to support mining, becoming a new hub.
My approach is: Don't put all your eggs in one basket. Some computing power is placed in politically stable regions, and part participates in cloud mining to reduce singular risks.
4. Practical suggestions for different players.
Beginners (budget under $3,000):
Starting with CPU mining for Monero, the costs are low, and the risks are small.
Join mining pools to smooth out earnings, avoiding the awkward situation of 'three days of operation, zero earnings.'
Focus on learning basic knowledge such as wallet security and yield calculation.
Advanced players (budget $10,000 - $50,000):
Configure 3-5 GPU mining rigs to diversify mining of Zcash, ETC, and other cryptocurrencies.
Try arbitrage: Quickly switch when a certain cryptocurrency's mining yield suddenly increases.
Start paying attention to policy trends and layout potential beneficiary regions/cryptocurrencies in advance.
Professional miners (budget over $100,000):
Directly cooperate with mining rig manufacturers for bulk purchases to secure the best prices.
Layout overseas mining sites: regions with low electricity prices in the Middle East, Central Asia, etc.
Explore innovative models like 'mining + AI.'
5. Judgments on the three major trends for the future.
Trend 1: Green mining becomes the standard.
Currently, about 43% of Bitcoin mining uses renewable energy, and this proportion will continue to rise. This is not only to reduce costs but also a necessary choice to cope with carbon taxes and other regulatory requirements.
Trend 2: Integration of mining with AI infrastructure.
Mining companies like IREN are starting to transition to AI computing services. Future mining sites may support both blockchain and AI computing, improving asset utilization.
Trend 3: Compliance and licensing competition.
As regulatory frameworks become clearer in the U.S., EU, and other regions, 'licenses' will become a scarce resource. Miners who layout compliance early will gain a first-mover advantage.
Finally, let’s talk about something practical.
Mining has never been a shortcut to wealth but rather a meticulous operational craft. If you still want to make money in this field in 2025, you need to be an electrician, programmer, economist, and strategic analyst simultaneously.
But its charm lies in this: When your mining rig runs 24/7, it’s like owning a 'small central bank' in the crypto world. This sense of participation is incomparable to mere trading.
Remember this: Bull market for trading, bear market for mining. Regardless of market fluctuations, miners are always earning 'era dividends.'
(Note: The above is personal practical experience and does not constitute investment advice. Mining has risks, and one should proceed with caution.)
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