In 2025, miners worldwide mined approximately 162,000 bitcoins, which at the current rate of about $88,000 per coin amounts to roughly $14.3 billion. The United States remains the leader in mining, while Russia, according to expert estimates, confidently holds second place, contributing about 16% of the global hashrate.
Mining Results in Russia in 2025
Russian mining saw significant infrastructure growth in 2025: the total number of farms increased by 44%, reaching 196,900 units according to the energy consumption monitoring system. Of the total 162,000 bitcoins mined during the year, about 26,000 coins may have Russian origins, valued at approximately $2.2 billion at current prices.
The legal status of the industry changed: mining has been permitted in Russia since November 1, 2024, and banks have started launching cryptocurrency-related services — for example, one Russian bank conducted a pilot loan secured by cryptocurrency with the mining company "Intelion." This combination of financial products and mining is gradually shaping a more formal market.
Changes in Hashrate and Mining Difficulty
The total computational power of the Bitcoin network in 2025 surpassed 1 Zh/s for the first time, and by the end of October, the hashrate peaked at 1.31 Zh/s. This growth reflects the activity of major players and the expansion of computational capacities worldwide.
Since the beginning of the year, mining difficulty increased by 35%, from 109.78 T to 148.26 T trillions. The rise in difficulty makes mining less accessible for outdated equipment models and intensifies competition for block rewards; more details on difficulty dynamics can be found in the article about mining difficulty growth.
Mining Profitability and Transaction Fees
In 2025, miners' income from transaction fees declined: in early January, daily fees were around $600,000, peaking near $900,000 in the first half of the year, and dropping to $210,000 by December 28. This fee decrease, along with changes in block rewards, impacts overall mining profitability.
The key profitability metric for miners fell to $35 per petahash per second (PH/s) in early December, which is 45% lower than the annual peak of $64 PH/s in July. With this trend, profitability becomes critically dependent on electricity costs and equipment efficiency; see also the article on mining profitability.
Mining Regulation in Russia
Legislative changes officially legalized mining in Russia as of November 1, 2024, paving the way for industry formalization and the emergence of financial products for miners. However, some regions have restrictions on cryptocurrency mining until spring 2031 due to electricity shortages, altering the internal distribution of mining capacity.
The introduction of regulation leads some participants to operate within the legal framework, gaining access to banking products and credit solutions secured by digital assets; this is important to consider when planning business and managing risks.
Trends in 2025
In 2025, there was a diversification of interests toward high-performance computing: companies combining mining and AI computing tasks attracted investor attention. A partial example of diversification was the rise in shares of some public miners following announcements of AI-related deals.
Simultaneously, institutional activity increased: large public projects and capital raising confirm investor interest in mining as an infrastructure asset. These changes already influence platform development strategies and equipment requirements.
Why It Matters
The growth in hashrate and difficulty directly reduces the chances for outdated ASIC miners to earn rewards publicly, making equipment efficiency and electricity price key profitability factors. The drop in fees and profitability to $35/PH/s makes margins vulnerable even for participants with cheap electricity.
For Russian miners, two additional factors are important: regional mining restrictions until 2031 affect farm placement options, and the legalization of mining after November 1, 2024, opens access to banking products and formal market channels.
What to Do?
Practical steps for miners with 1–1000 devices should be straightforward and prioritized: first, assess current equipment profitability and electricity costs, then compare this with the changed difficulty and current fees.
- Check energy efficiency and equipment age; make upgrade decisions based on ROI calculations and current difficulty.
- Evaluate location: consider regional mining restrictions and compare alternatives by energy price and capacity availability.
- Monitor fees and profitability in $/PH/s; adjust volume and operation modes when margins decline.
- Explore financial products — banks are now piloting loans and other services secured by cryptocurrency assets, which can help access capital.
- Read professional reviews and equipment comparisons, such as the article on Antminer S21 Pro, to understand which models best fit the current situation.
These steps will help quickly assess risks and form an action plan amid increased difficulty and changing revenues. Even with small farms, focusing on efficiency, cost control, and regulatory compliance is crucial.