1 Year Since the Halving – How Have Miners Fared?

It’s officially been 1 year since the last Bitcoin Halving. Let’s analyze how Bitcoin Mining has performed over the past year…

For this analysis we are assuming a miner purchased 1 BTC worth of ASICs and began mining the day of the halving. The most efficient at the time was the S21 (200T) selling for ~$6,000 per machine; resulting in a 1 BTC purchase yielding ~10.7 miners.

Mining at $0.075/kWH (a competitive electricity rate made possible with service providers like Blockware) yielded the following returns over 1-year:

– 0.54 BTC Mined

– 0.33 BTC Electricity Costs

– 0.21 Net BTC Accumulated

In 1 year a miner has returned 21% of their BTC-denominated capital expense, while having an asset (the ASICs) that still produces Bitcoin at a ~30% discount to the market price. With BTC poised to make a run in the next 12 months, the operating margins for this miner will expand allowing them to keep even more of the BTC they mine.

With 3-more years to go until the next halving, I expect this miner to recoup the entirety of the 1 Bitcoin spent on miners and then some. Earlier this year we analyzed the potential returns for Bitcoin mining throughout the remainder of this halving epoch; observing a variety of different market outcomes. In this analysis we found that in 6 out of 8 market environments, Bitcoin mining resulted in more BTC accumulated than purchasing Bitcoin directly.

Outperforming Bitcoin is a difficult task, but mining, when done with the right strategy and operations, can accomplish that.

You can read that report here: https://mining.blockwaresolutions.com/1btc

Live Webinar – Learn More About Mining with Blockware

Join us for a live discussion on Bitcoin Mining! We’ll be answering all of your questions about Blockware, Mining, the current state of the Bitcoin market, and more! We’ll also be announcing the winner of our survey raffle (A Free Antminer S19 XP)! Join us for an hour of valuable insights!

• Wednesday, April 30, 2025

• 1 pm EST

Sign up here: mining.blockwaresolutions.com/webinar

Blockware’s Mining-as-a-Service enables you to start mining Bitcoin, without lifting a finger. Blockware handles everything, from securing the miners, to sourcing low-cost power, to configuring the mining pool – they do it all.

With multiple data centers across the US, Blockware is the most reliable mining partner in the industry.

Click here to check out our Marketplace where you can see real-time analytics on our miners, and make an immediate purchase using BTC or fiat.

If you’d like a more hands-on mining experience, fill out this form on our website. One of our Account Executives will be in touch and they can walk you through our entire product and service offerings! The table below provides a full pricing list for all the ASICs available through Blockware at this time. For those seeking to purchase ASICs in bulk (with or without hosting), contact sales@blockwaresolutions.com or reach out here.

All content is for informational purposes only. This Blockware Intelligence Newsletter is of general nature and does not consider or address any individual circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal, business, financial or regulatory advice. You should seek independent legal and financial advice, including advice as to tax consequences, before making any investment decision.