By the end of 2025, Bitcoin mining transitioned into a more industrial phase: institutional investor interest increased, and some governments began legalizing mining practices. At the same time, competition intensified, costs rose, and efficiency requirements grew, shaping the key trends for 2026. ViaBTC pool CEO Haipo Yang notes that in several countries, mining has become part of the economy, attracting investments from both major players and retail miners.
Mining Trends for 2026
Several factors will drive industry development over the next year: growing institutional interest, legalization and government support in some countries, and an influx of capital and new participants. These elements simultaneously increase competition and stimulate the emergence of mining-related services—from exchanges to credit products covering operational expenses. As a result, market participants' revenue models and business structures are evolving.
- Rising interest from institutional investors and governments.
- Legalization of mining in several countries and integration into the economy.
- Increased investment flows and influx of new users.
Current Industry Status
Competition in mining has intensified: the global hash rate increase is reflected in a mining difficulty rise of over 35% since the start of the year, according to Bitinfocharts. Meanwhile, the key profitability metric for miners dropped to $37 per petahash per second (PH/s) by the end of December, significantly reducing margins all else equal. Simultaneously, the retail sector remains active: ViaBTC records a steady inflow of more than 300 new users daily, many connecting one or multiple devices.
Mining ROI and Profitability
Average Bitcoin mining ROI in 2025 remains at 2.5–3 years per ViaBTC estimates, while Litecoin and Dogecoin mining recoup costs faster—approximately 1–1.5 years. On the other hand, production costs for large public miners have increased: Riot Platforms reported an average cost of $46,324 to mine one Bitcoin in Q3 2025. Against this backdrop, Bitcoin’s price hovered around $88,000 by December, with miners left to extract roughly 5% of all coins.
Changes in Miners' Business Models
Rising costs and declining profitability push market participants to seek new models: switching to ultra-low-cost energy, diversifying business, and offering ancillary services. Some large companies are already shifting focus from mining to infrastructure or investment products. Concurrently, mining pools expand their service range: for example, ViaBTC is building an ecosystem including an exchange and credit products, while other pools offer asset custody, interest programs, and equipment sales and maintenance services.
This service evolution makes mining operations less fragmented and provides miners with additional options to manage liquidity and risks. For details on the pool’s development, see the article ViaBTC Recognized as a Pool, and for advice on changing business models, refer to the piece on mining profitability.
Forecasts and Outlook
ViaBTC leadership expects sustained long-term interest in the industry: anticipated Bitcoin price growth and support from investors and some governments create a stable foundation for further development. In this context, Bitcoin’s value as a scarce asset strengthens, enhancing mining’s appeal to certain investors. At the same time, expert opinions highlight increased market participant selection—survivors will be those controlling costs or successfully diversified; see more on market challenges in the article Challenges for Miners.
Why This Matters
If you mine in Russia with a small to medium setup (1–1000 devices), these changes mean rising competition and margin pressure. Increasing difficulty and declining profitability directly impact your machines’ returns, while rising production costs among large players indicate a general trend toward more expensive operations. Meanwhile, expanding pool services and credit tools offer additional liquidity management options without needing to sell crypto assets immediately.
What to Do?
Key practical steps for miners with 1–1000 devices include reducing operational expenses, managing thermal and electrical conditions, and selecting pools and products that help manage income. Start by assessing electricity costs and equipment efficiency, optimizing settings and maintenance to minimize downtime and hash rate loss. If liquidity is needed, consider pool credit products that cover operational costs without immediate BTC sales.
- Recalculate production costs considering current rates and profitability ($37/PH/s as of late December).
- Optimize equipment operation: maintenance, cooling, scheduling work according to tariffs.
- Evaluate income diversification options: other coins with faster ROI or pool services (custody, loans).