Share this article
Bitcoin Mining Economics Expected to Be Stable, Profitable in 2025, Canaccord Says
Mining fundamentals are strong with the cost to mine around $27,000 per bitcoin for larger participants, the report said.
Jan 22, 2025, 9:32 a.m.
What to know:
- Bitcoin mining economics are expected to be stable and profitable this year, the report said.
- Canaccord said the cost per bitcoin is around $27,000 for the larger miners.
- More AI co-hosting deals could be announced in coming months, the broker said.
Bitcoin mining is likely to remain profitable this year with the economics of production holding steady, Canaccord Genuity said in a research report Tuesday.
The broker said mining fundamentals are strong, "with cost-to-mine sitting somewhere in the ~$26,000-$28,000 range per bitcoin for most leading players."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The world's largest cryptocurrency was trading around $105,000 at publication time.
Management and investor attention is also increasingly being drawn toward alternative uses for these companies' sizable power supplies, especially artificial intelligence (AI) data center hosting.
Bitcoin miner Core Scientific (CORZ) signed a 12-year contract with AI hyperscaler CoreWeave in June last year. The deal was viewed as a game changer for the sector.
"Early demand forecasts point toward AI dwarfing the traditional cloud hosting market over time," analysts led by Joseph Vafi wrote.
More co-hosting deals are expected to be announced early this year, with potential news from Galaxy Digital (GLXY) and Applied Digital (APLD), the report said.
Many of the larger publicly traded miners are using their access to capital to upgrade their fleets following last April's reward halving event, and this is strengthening their competitive position and share of the network hashrate, Canaccord said.
The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain and is a proxy for competition in the industry and mining difficulty.
Read more: Bitcoin Miners Have Started 2025 on a Strong Footing, JPMorgan Says
Meer voor jou
Wat u moet weten:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Meer voor jou
LUNC Surges Over 160% in a Week as Do Kwon Sentencing and Token Burns Draw Traders
The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns.
Wat u moet weten:
- Terra Classic (LUNC) surged 74% to $0.0000072, up 160% in the past week, on exploding trading volume, ahead of Terraform Labs founder Do Kwon's sentencing on Dec. 11.
- The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns, with 849 million LUNC destroyed in the past week.
- The token's momentum is also fueled by Binance's pause on LUNC withdrawals ahead of the Terra Chain's v2.18 upgrade, which aims to improve network stability, despite the token remaining volatile.
Top Stories
