In Q2 2025, Bitcoin miners reported record cash operating profits, largely propelled by a transition towards high-performance computing (HPC). This shift has been pivotal in enhancing profitability despite increasing competition.
Cipher Mining and IREN exemplified this trend with major colocation agreements and GPU expansions, demonstrating their commitment to investing in HPC, positioning them for future growth in the BTC mining sector.
Miners spent approximately 900 million USD on capital expenditures and recorded energy costs of 2.1 billion USD. Gross profits stabilized around 2.1 billion USD, reflecting the BTC’s price appreciation and maintaining profit margins.
Leave a Reply