Can you still earn Bitcoin through mining in 2026? Key data and the reality

If you’re considering participating in Bitcoin mining, the first question might be: can the investment costs be recovered? The era of “free” BTC mining with a regular computer is gone for good, but that doesn’t mean mining is completely unprofitable. The key is to understand the true state of the market.

Since its inception in 2009, Bitcoin has created investment legends, but it has also spawned an “alternative track”—mining. This technology, once seen by geeks as “making money by powering computers,” faces new realities in 2026. With the completion of the fourth halving in 2024, the sharp reduction in block rewards, and intense global hash rate competition, do individual miners still have a chance?

What is Bitcoin mining? Starting from the basics

“Bitcoin mining” sounds mysterious, but essentially it means participants provide computational power to the Bitcoin network to verify transactions and maintain the ledger, earning newly generated BTC as a reward. You can think of this process as: miners using mining hardware (computing devices) to do bookkeeping for the Bitcoin network, and the system rewards you.

• Miner: an individual or organization owning mining hardware and participating in mining
• Mining hardware: devices that perform computational tasks
• Mining pool: a platform where many miners combine their hash power to increase the chances of earning a block reward

In the early days, anyone could mine with a regular CPU. Now? The requirements for computational power are completely different.

Over a decade of mining: from individual prospecting to industry monopoly

Evolution of mining hardware

2009-2012, CPU mining dominated the market. A regular computer was enough.

In Q1 2013, GPU and graphics card mining became popular, greatly increasing hash power but also electricity consumption.

Starting in Q2 2013, Application-Specific Integrated Circuits (ASICs) appeared, completely changing the game. From Avalon to Antminer, these specialized devices marked the start of Bitcoin mining entering an industrial era—making it extremely difficult for individuals using ordinary equipment to participate.

Upgrading mining methods

As the total network hash rate exploded, solo mining became nearly impossible for individuals to win blocks. To address this, miners started forming “mining pools.” Well-known pools like F2Pool, Poolin, AntPool, and Braiins Pool emerged, pooling dispersed hash power and distributing rewards proportionally.

Is mining profitable? The truth about revenue and costs

Where do Bitcoin miners’ earnings come from?

Miner income consists of two parts:

1. Block rewards: When a block is validated, the system automatically issues new BTC. This amount is pre-set—halving approximately every 4 years. Initially 50 BTC per block, after multiple halvings, it’s now 3.125 BTC per block.

2. Transaction fees: Users pay fees for each transaction, which go to miners. When the network is congested, fees rise, increasing miners’ earnings.

It seems profitable. But the reality is much more complex.

Harsh comparison of costs and revenues

Suppose you decide to mine with hardware:

• Equipment cost: a professional ASIC miner (e.g., WhatsMiner M60S) costs $3,000–$5,000
• Electricity: monthly electricity costs $500–$2,000 (depending on local rates and device power consumption)
• Maintenance: cooling, repairs, and other operational costs
• Pool fee: typically 1–4%

How much can you earn per month? At current difficulty levels, a high-efficiency miner might earn $500–$1,500 monthly. After deducting electricity and other costs, net profit is positive but slim. Worse, if Bitcoin’s price drops, mining could even become unprofitable.

Will individual mining still be feasible in 2026 under cost pressures?

The myth of “free mining” is gone

Many believe they can still “mine for free” today—that’s a complete illusion. In the early days, when network hash rate was low, individuals could easily mine large amounts of BTC—Satoshi Nakamoto himself obtained the first BTC this way. But now, if you mine solo with a regular computer, it’s almost impossible to win any block.

Practical options for individuals

If you want to participate in mining, here are some options:

Option 1: Buy hardware + join a pool

• Requires an investment of $3,000–$10,000 for equipment
• Needs a stable, low-cost power supply (a key competitive factor)
• Suitable for those with technical skills and capital

Option 2: Rent hash power

• No need to buy hardware; rent hash power from platforms
• Lower costs (daily rent from $0.05–$1.50 per TH/s)
• Risks: verify platform reliability (many cloud mining platforms are scams)

Option 3: Alternative trading strategies

• Skip mining, buy or trade BTC directly on exchanges
• No hardware or electricity costs
• More suitable for ordinary investors

Regulatory risks cannot be ignored

After the US SEC introduced the “Digital Asset Mining Regulatory Framework” in 2025, the legality of mining became a key variable. In the US and most of Europe, Bitcoin mining remains legal. But in China, Iran, and other countries, mining has been strictly banned or heavily restricted.

Before deciding to mine, always check local policies. Blind mining could lead to confiscation, fines, or legal issues.

Want to mine? Here’s a comprehensive practical guide

If you’ve carefully considered and still want to participate, these steps can help:

Step 1: Regulatory assessment

• Check your local policies on Bitcoin mining
• Confirm no legal risks
• Understand if special permits are needed

Step 2: Cost estimation

• Use online tools like WhatToMine to estimate potential earnings
• Input parameters: mining hardware model, local electricity rate (usually $0.08–$0.12 per kWh), pool fee
• Compare expected daily/monthly/yearly earnings with your investment

Step 3: Choose mining hardware Common high-efficiency miners include:

Prioritize devices with an energy efficiency ratio below 20 J/TH. Consider second-hand markets or leasing platforms (like Hiveon) to reduce initial costs.

Step 4: Join a mining pool Compare pools based on fee rates, payout cycles, and stability:

Decentralized pools (like Braiins) offer stronger resistance to censorship, while traditional large pools tend to be more stable but more centralized.

Step 5: Start mining

• Connect your hardware to the pool
• Configure your wallet address, keep private keys secure
• Monitor daily earnings and periodically evaluate ROI

Pitfall avoidance: beware of fake mining platforms

Before engaging in any mining activity, watch out for:

Signs of cloud mining scams

• Promises of “zero cost” or “free mining”—99% are scams
• Inability to verify actual mining hardware presence
• Significantly below-market rent prices often indicate fraud

Verification checklist

• Does the platform publish transparent data?
• Can you find genuine user feedback?
• Are withdrawals limited or delayed unreasonably?
• Is customer support professional and reachable?

The safest approach

• Choose reputable, long-standing pools and platforms
• Research founders and background
• Test with small amounts before large investments
• Regularly review account activity and actual earnings

Conclusion: the present and future of mining

Bitcoin mining is no longer the “get-rich-quick” business of early days. It has evolved into an industry requiring technical knowledge, capital investment, and risk management. From CPU mining in the early days to ASIC dominance and now a landscape dominated by large capital, the rules have changed completely.

Advice for ordinary people:

If you have 3–5 years of capital patience, access to cheap and stable electricity, and some technical understanding, buying mining hardware and participating in mining can still be a low-cost way to acquire BTC. But if your goal is quick profit or zero-cost gains, mining is not the best choice—buying or trading BTC directly may be more realistic.

Most importantly: beware of platforms promising “free mining” or “passive income.” Bitcoin’s value is rooted in real electricity consumption and hardware investment—part of its security and value. Any claims of effortless gains should be viewed as red flags.

Before mining, ask yourself three questions: Is it legal in my area? Can I afford the costs? Do I truly understand this industry? Only if all three answers are “yes” is it the right move to enter this space.