Bitcoin is dominating the crypto world. At the heart of its ecosystem lies Bitcoin mining, the process that powers and secures the entire Bitcoin network.

As Bitcoin’s popularity has surged in recent years, its mining ecosystem has also evolved. Technological advancements and the rise of large-scale mining farms have transformed how mining operates today.

Since its inception in 2009, Bitcoin mining has undergone significant changes. Here’s the most up-to-date data on Bitcoin mining, reflecting its current state.

Bitcoin Miners Revenue Per Day

Since 2022, Bitcoin miners saw their highest daily revenue on April 20, 2024, when it peaked at $107.76 million.

2023, the top daily revenue was $59.08 million on December 21. The best day in 2022 was January 13, with miners generating $49.60 million.

This upward trend reflects the increasing network activity and demand for Bitcoin, highlighting a surge in mining profitability over recent years.

Bitcoin Mining Profitability Statistics

In the early years, Bitcoin mining was far more profitable than today.

Mining requires powerful machines and constant energy and consumes vast amounts of electricity. Over time, these machines and energy costs have risen while miners’ revenues have shrunk.

In July 2015, miners earned about $2.98 daily for each terahash per second (TH/s).

By 2017, that figure had dropped to $2.08; by 2019, it was down to just $0.37 per TH/s. As of August 2024, mining profitability has hit a low of about $0.05 per TH/s per day.

This steep decline highlights the growing difficulty and expense of mining as the network becomes more competitive and energy costs rise, leaving miners with diminishing returns.

Bitcoin Hashprice Index

The Bitcoin Hash Price Index measures how much revenue Bitcoin miners earn for their computing power.

On August 23, 2021, the hash price hit an all-time high of around $408.71. In 2024, the hash price peaked in April at approximately $170.88.

This significant drop from 2021 to 2024 reflects the increasing difficulty of mining and competition and market conditions that have lowered miner profitability over time.

Bitcoin ASIC Price Index

The ASIC Price Index tracks the cost of ASIC (Application-Specific Integrated Circuit) machines, specialized computers designed for cryptocurrency mining, such as Bitcoin.

As of September 26, 2024, the ASIC price for machines with efficiency under 25 joules/terahash is about $7.82. Machines operating between 25-38 joules/terahash have an ASIC price of around $6.05, while less efficient machines above 38 joules/terahash cost about $2.56.

On January 27, 2022, the ASIC price for machines under 25 joules/terahash hit an all-time high of $94.89. Machines in the 25-38 joules/terahash range peaked at $106.08 on December 19, 2021. The ASIC price for machines above 38 joules/terahash peaked at $76.10 on January 4, 2022.

The sharp price drop reflects the decreased demand for mining equipment, possibly influenced by Bitcoin’s market conditions and the growing availability of more energy-efficient mining hardware.

Bitcoin Mining Emission & Sustainability Statistics

Reports show a significant drop in emissions from the Bitcoin mining industry.

Since 2021, emissions have decreased from nearly 600 grams of CO2 per kWh to 299 grams per kWh. This reduction is mainly due to the growing use of sustainable energy, which has increased from 33% in 2021 to 52% in 2024.

Similarly, Texas, home to the ERCOT grid and a central Bitcoin mining hub, saw renewables grow from 20% of its energy mix in 2017 to 31% in 2023. This shift underscores the industry’s move toward cleaner energy sources.

Bitcoin Mining Regional Analysis

In recent years, China has taken the lead in Bitcoin production, accounting for around 21% of the world’s total mining output in the industry.

As of 2024, the United States contributes nearly 17% of the daily Bitcoin mining, coming in second to China, which holds about 46% of the market share.

Bitcoin Mining Industry Water Foot Print Statistics

An October 2023 report revealed that between 2020 and 2021, the global water footprint of Bitcoin mining reached 1.65 cubic kilometers (km³).

During this period, Bitcoin mining consumed more water than the domestic use of 300 million people in rural Sub-Saharan Africa.

By January 2024, the industry’s water footprint had surged by 166% between 2020 and 2021, growing from 591.2 gigaliters (GL) to 1,573.7 GL. The data from 2023 suggests Bitcoin’s annual water footprint may now be as high as 2,237 GL.

Countries With The Highest Bitcoin Mining Hashrate

According to 2022 reports, the United States led global Bitcoin mining with a hashrate share of 37.84%.

China followed with 21.11%, while Kazakhstan and Canada reported 13.22% and 6.48%, respectively.

These figures highlight the dominance of North America and Asia in Bitcoin mining, with the U.S. solidifying its position as the leading hub for mining activity.

Top Bitcoin Mining Enterprises

As of September 2024, the total market cap of Bitcoin enterprises is $25.48 billion. Here’s a list of the top Bitcoin mining enterprises with the highest market cap.

Mining Enterprise Market Cap
Marathon Digital Holdings $4.75 billion
Core Scientific $3.18 billion
Phoenix Group $2.47 billion
Clean Spark $2.36 billion
Riot Blockchain $2.25 billion

“Marathon Digital Holdings controls 18.64% of the total Bitcoin mining market cap, while Core Scientific holds 12.48%.

This dominance by Marathon suggests its leading role in the Bitcoin mining industry, with Core Scientific following as another significant player.

Bitcoin Mining Pool Figures

Mining pools are groups of miners that team up, combining their computing power to solve Bitcoin’s complex puzzles more quickly.

This boosts their chances of adding blocks to the blockchain and earning rewards. By pooling their resources, they can share the rewards more evenly, making mining more predictable and profitable—especially for smaller miners.

As of March 2024, here are the top 10 mining pools ranked by hash rate.

Rank Pool 14-Day Hash Power Percentage of Global Hash Rate
1 Foundry USA Pool 162 EH/s 27.7%
2 AntPool 140 EH/s 23.9%
3 ViaBTC 82.4 EH/s 14.1%
4 F2Pool 68.3 EH/s 11.7%
5 Binance Pool 28.9 EH/s 4.9%
6 Unknown 18.7 EH/s 3.2%
7 SBI Crypto 15.9 EH/s 2.7%
8 Luxor 14.6 EH/s 2.5%
9 MARA Pool 11.2 EH/s 1.9%
10 SecPool 9.1 EH/s 1.6%

More Bitcoin Mining Statistics

  1. Texas led Bitcoin mining in the USA in 2023, commanding 28.5% of North America’s hash rate. (Source: Foundry)
  2. On March 12, 2024, Bitcoin’s total hash rate reached a record-breaking 629.44 EH/s. (Source – techopedia.com)
  3. In 2021, the Bitcoin mining industry pulled in an impressive $63 million in just one day. (Source – buybitcoinworldwide.com)
  4. Over the past few years, Bitcoin mining has brought in around $13 billion globally. (Source – buybitcoinworldwide.com)
  5. In January 2021, Bitcoin miners collectively earned an average of around $1.1 billion. (Source – buybitcoinworldwide.com)
  6. The United States accounts for about 17% of all Bitcoins mined daily, translating to roughly 153 Bitcoins daily. (Source – buybitcoinworldwide.com)
  7. 2021 the Bitcoin mining industry was valued at approximately $1.6 billion. (Source – buybitcoinworldwide.com)
  8. Starting in 2021, the bitcoin mining industry was projected to grow at an annual rate of 13.8% for the next three to four years. (Source – buybitcoinworldwide.com)
  9. Core Scientific is the most significant Bitcoin mining operation in the U.S. (Source – buybitcoinworldwide.com)
  10. BIT Mining is the largest Bitcoin mining company in China. (Source – buybitcoinworldwide.com)

FAQs:

1) What percentage of Bitcoin has been mined?

As of 2024, approximately 92% of the total Bitcoin supply has been mined. Out of the maximum supply of 21 million BTC, around 19.3 million BTC have already been mined. This leaves about 1.7 million BTC yet to be mined, which will happen gradually over the coming decades due to the halving events.

2) What is the current rate of Bitcoin mining?

The Bitcoin network currently produces 6.25 BTC per block mined, with blocks added approximately every 10 minutes. This mining reward will decrease in the next halving, expected in April 2024, when the reward will be cut to 3.125 BTC per block.

3) How long does it take to mine 1 Bitcoin?

On average, it takes about 10 minutes to mine 1 block, but the block reward is 6.25 BTC, meaning that 1 Bitcoin can technically be mined every 1.6 minutes. However, mining speed depends on factors like mining hardware, electricity costs, and the hash rate. Solo mining for 1 Bitcoin could take much longer, while mining pools distribute rewards faster.

4) How successful is Bitcoin mining?

Bitcoin mining can be successful, but profitability depends on several variables:

  • Electricity Costs: Low-cost electricity regions are more profitable.
  • Mining Hardware: High-efficiency ASIC miners increase the chances of profitability.
  • Mining Difficulty: As more miners join the network, the difficulty increases, requiring more computational power.
  • Bitcoin Price: Higher prices make mining more profitable as rewards are worth more.

Many large-scale mining operations are profitable, but for individual or small-scale miners, success often depends on having access to cheap electricity and modern mining equipment.