Crypto Mining Trends: Is Mining Still Profitable Today?

In early February 2026, crypto mining—particularly for Bitcoin—is facing its most challenging “profitability squeeze” in years. While Bitcoin reached an all-time high of over $122,000 in mid-2025, the recent price correction to the $60,000–$69,000 range, combined with soaring network difficulty, has made mining a high-stakes game of survival.

1. The 2026 Profitability Math

As of February 9, 2026, mining is largely in “negative margin” territory for all but the most efficient industrial-scale operators.

• Production Cost vs. Price: The average cost to mine a single Bitcoin has climbed to approximately $87,000–$92,000. With the market price currently hovering near $69,000, the average miner is effectively losing money on every coin produced unless they have access to subsidized or “stranded” energy.
• Hashprice Collapse: The “hashprice” (a measure of revenue per unit of computing power) has fallen to roughly $35 per PH/s, down from over $70 during the 2025 peak.
• The Difficulty “Ratchet”: Despite the price drop, network difficulty remains near all-time highs (though it recently saw an 11% downward adjustment due to winter storms in the U.S. and miners shutting down unprofitable rigs).

2. Is It Still Profitable? (The 2026 Thresholds)

Whether mining is “worth it” right now depends entirely on two variables: Electricity Cost and Hardware Efficiency.

In early February 2026, crypto mining—particularly for Bitcoin—is facing its most challenging “profitability squeeze” in years. While Bitcoin reached an all-time high of over $122,000 in mid-2025, the recent price correction to the $60,000–$69,000 range, combined with soaring network difficulty, has made mining a high-stakes game of survival.

1. The 2026 Profitability Math

As of February 9, 2026, mining is largely in “negative margin” territory for all but the most efficient industrial-scale operators.

• Production Cost vs. Price: The average cost to mine a single Bitcoin has climbed to approximately $87,000–$92,000. With the market price currently hovering near $69,000, the average miner is effectively losing money on every coin produced unless they have access to subsidized or “stranded” energy.
• Hashprice Collapse: The “hashprice” (a measure of revenue per unit of computing power) has fallen to roughly $35 per PH/s, down from over $70 during the 2025 peak.
• The Difficulty “Ratchet”: Despite the price drop, network difficulty remains near all-time highs (though it recently saw an 11% downward adjustment due to winter storms in the U.S. and miners shutting down unprofitable rigs).

2. Is It Still Profitable? (The 2026 Thresholds)

Whether mining is “worth it” right now depends entirely on two variables: Electricity Cost and Hardware Efficiency.