Q32025 is over and we would like to take a look at what has happened recently in Minto.
Bitcoin mining at Minto in 2025
We started the year with a hashrate of 144 PH/s, in April we reached 190 PH/s, in July - 285 PH/s, and in August - 315 PH/s! Since the beginning of the year, the Minto hashrate has grown by almost 120%.
In April and June, we held votes, according to the results of which we used the 4 BTC that accumulated in the Treasury, our strategic BTC reserve, to purchase new miners.
The hashrate increase had a noticeable effect on the Treasury's filling rate - from the beginning of 2025 to the end of August, we had accumulated more than half a million dollars!
Since May 2025, Minto's revenue has been consistently above $200k, and in August it exceeded $300k. August was the month of the project’s historical maximum net profit that amounted to more than $138k. It was the first time we surpassed the results of the pre-halving March 2024, when we earned over $112k in the face of total market excitement - a record that lasted 1.5 years!
The impact of the increasing Bitcoin network difficulty and BTC exchange rate
Meanwhile, since the beginning of the year, Bitcoin network difficulty has increased by almost 20%, from 110T to 130T. This means that mining profitability has decreased by the same 20%. It is worth noting that fluctuations in difficulty certainly have an impact on mining, but their contribution can be considered insignificant. The main factors are the volume of our mining capacities and their Average Energy Efficiency (AEE).
The Bitcoin exchange rate also plays a significant role in assessing financial performance in fiat. We use the dollar value more for the convenience and clarity of perception, but we should never forget that we are earning and holding BTC, exchanging bitcoins for fiat only for the purchase of miners!
The Minto growth candle always remains green, because we always earn bitcoins, regardless of the market situation.
The impact of energy efficiency of mining equipment
As we purchase new mining equipment, we monitor energy efficiency, as the profitability of mining also depends on it. The key parameter for Minto users is Customer Energy Efficiency (CEE) - we keep it around 28 W/TH, which is a very competitive value.
Thanks to this approach, the cost of bitcoin mining increased by just over 20% from January to August, from $51.4k/BTC to $62.6k/BTC, which remains at the profitability level of the world's largest mining companies. With a bitcoin exchange rate of about $110k-$120k, we maintain a huge margin of safety and can withstand such hypothetical shocks as an instant twofold drop in the market!
Comparison of Minto parameters in Q1 - Q3 of 2025 and 2024
Let's take a look at the first half of Minto's work and compare it with the previous year:
Despite a 37.5% decrease in gross profit in BTC (16.42 BTC in 2024 versus 10.26 BTC in 2025) due to the natural increase in the Bitcoin network difficulty, Minto's net profit increased by 16.6% ($369k in 2024 versus $431k in 2025).
The Treasury (BTC reserve) grew 66.7% year-on-year.
This is due to the increased energy efficiency of Minto's mining infrastructure, the growth of the Bitcoin exchange rate, and the low cost of mining 1 BTC.
The 65% mining hardware uptime algorithm of Minto
We continue to use the intelligent algorithm of 65% mining hardware uptime, mining bitcoin exclusively during the hours when electricity cost is the lowest. This leads to a loss of revenue, but significantly increases the net profit.
We compare profitability in the 65% mode and the hypothetical 100% uptime in monthly reports (e.g., Report for August), where we analyze the situation and consider the need to switch to another mode in order to achieve better financial performance.
A general view of the Bitcoin mining market and its prospects
Now let's see how Bitcoin behaved during the year.
The Bitcoin exchange rate has been growing almost continuously since the beginning of 2025 (yellow). Bitcoin network difficulty is also increasing with small pauses and rollbacks (red). The hashprice parameter (blue) is considered the most important for bitcoin mining, indicating the average daily earnings of a miner.
It is obvious that the hashprice is steadily falling and, e.g., by September 30, 2025, it reached the value of 0.00044496 BTC/PHs/Day, which is about $50.7 profit per 1 petahash of mining capacity per day.
The general trend in the mining market is as follows: mining hardware is constantly being improved and is becoming more energy-efficient. This makes it possible - primarily for large companies with significant financial resources - to earn money, since they can invest in expensive equipment and work for a long time with minimal operating costs.
The dominance of large mining companies entails a constant increase in the total mining capacity (hashrate) and, as a result, Bitcoin network difficulty. The rapidly aging equipment used mainly by small companies is supported by the growth of the bitcoin exchange rate. However, in the event of a significant drawdown, all equipment with low energy efficiency will become unprofitable and will be turned off. This will lead to a drop in the Bitcoin network hashrate, and then in its difficulty, but it will allow large companies to further increase their potential by growing their hashrate in these favorable conditions.
Thus, the Bitcoin mining market is inevitably consolidating, and the investments of institutional players in a variety of cryptocurrency ETF funds are pushing the exchange rate of the underlying assets up. The prospect of a rate cut in the United States also contributes to an increase in risk appetite (investments in risky assets, including Bitcoin).
Current market conditions may remain favorable for another year, two or more, until the macroeconomic indicators of the world's largest economy begin a new cycle of decline.
Minto's energy-efficient mining infrastructure is the foundation of our success
We, the Minto team, have a positive view of the market and continue to improve our mining infrastructure regardless of the situation. Minto is a relatively small project, but we managed to organize our operations in such a way that its parameters correspond to the level of large mining companies. This means that we are not only energy-efficient in terms of mining profitability, but also efficient in terms of the business itself!
Stay with Minto if you are already with us because there are so many new achievements ahead! Join Minto if you are still in doubt whether it is possible to make money with BTC mining!
Minto is a great mining school, a real project that allows you to accumulate bitcoins by earning them in a huge real data center, where bitcoin mining on real equipment does not stop for a second!
