CryptoQuant analyst Axel Adler Jr calculated the average cost for mining Bitcoin to around $36,800 per BTC. The current market price compared to the cost of mining could generate 182% profit for miners.
According to a recent post by CryptoQuant analyst Axel Adler Jr, the current average production cost required to mine 1 BTC (BTC) is equal to around $36,800. He was able to calculate the cost of mining by combining the latest data from April 2025 with the average cost of electricity, energy efficiency, capex amortization and the Power Usage Effectiveness multiplier.
Based on Adler Jr’s calculations, at Bitcoin’s current market price, miners stand to gain a 182% profit compared to the $36,800 it takes them to mine a single BTC. Adler Jr noted that the pattern is similar to the beginnings of BTC’s earlier bull-run back in late 2022.
In the earlier rally that started in November 2022, BTC shot up by nearly 100%, surging from $16,000 to $30,000 by January 2023.
The average cost of mining 1 BTC for miners is currently $36.8K. The spread between the current market price and the cost of one coin = 182%. This is essentially the average profitability. This corresponds to the beginning of the bull cycle in November 2022 and the peaks of this… pic.twitter.com/ynCLNWYCsE
— Axel 💎🙌 Adler Jr (@AxelAdlerJr) May 13, 2025
“This is essentially the average profitability. This corresponds to the beginning of the bull cycle in November 2022 and the peaks of this cycle >$100K,” said Adler Jr in his post.
Assuming the price stays well above the $36,800 mark, Adler Jr estimated miners will be able to fully breakeven for each coin. He even stated that miners will be able to reap excess profits comparable to those reached during the beginning of Bitcoin’s bull rally back in January 2023.
Price chart for Bitcoin in the past few hours, May 13, 2025 | Source: crypto.news
Read more: Bitcoin surges past $105k on the heels of a U.S. and China trade deal
At press time, Bitcoin has gone down 1.85% in the past 24 hours, according to data from crypto.news. BTC is currently trading hands at $102,894. However, it recently reached a daily peak of $104,635. Just a day prior, Bitcoin surpassed $105k for the first time since January 31.
Most recently, BTC has been on a rally fueled by a temporary trade truce between the U.S. and China. It was able to recover from the slump it experienced back in early April when it fell below the $75,000 mark after global stock markets crashed in the aftermath of President Trump announcing blanket trade tariffs across more than 60 countries and regions.
In the past month, BTC has been able to recover beyond the $100k threshold, rising by as much as 21.7%. Meanwhile, in the past week, BTC has gone up by nearly 9%.
You might also like: Bitcoin miners show no sign of capitulation as structural signals stay positive, Bitfinex says
