Is crypto still worth mining in 2025, or is it purely nostalgia now?
Cheaper machines, higher electricity bills, and fewer rewards. Mining today looks very different from the stories people tell about 2017.
Mining crypto still has its fans, but for most South Africans it’s no longer the “set-up-the-rig-and-watch-the-Rands-roll-in” dream it once was. High electricity costs, fierce competition, and slim margins make it more of a niche hustle than a general hobby.
If your electricity bill doesn’t scare you, you’re likely paying the price in opportunity cost.
Still profitable, but only if the stars align
Mining can give you some profit, but not much, and it's challenging AF. After Bitcoin’s April 2024 halving, the average cost to mine hovered dangerously close to the market price, around US$84,800 to US$87,200 (about R1.5 million to R1.54 million) in March 2025, which leaves only a thin margin of upside.
Reddit miners paint an even starker reality: “Only works if your electricity rate is ridiculously low or free,” warns one user. Home rigs are competing with industrial-scale operations buying ASICs in bulk, which isn't exactly fair.
At South Africa’s average electricity cost, mining a single Bitcoin can push your expenses into seven figures in rand terms, before you even pay for the rig.
Equipment is cheaper... but so is the reward
Good news: ASIC prices have plunged, around US$16 (roughly R280) per terahash now, compared to US$80 (about R1 410) in 2022. Bad news: Bitcoin's block reward is just 3.125 BTC per block after the 2024 halving, and difficulty keeps increasing. Translation: your rig might cost less, but so does the slice of the Bitcoin pie it earns.
Modern mining is more utility than hobby; it’s capital-heavy, legal, and energy-savvy.
Environment and energy don’t play favourites
Bitcoin mining remains energy-hungry. In 2025, about half of global mining electricity still comes from fossil fuels. South African miners face a double whammy: high rand-denominated energy prices and a growing pressure to adopt greener energy sources.
Mining in South Africa means competing not only with global ASIC farms, but with Eskom’s tariffs and load-shedding reality.
Not all crypto miners use ASICs
Some altcoins (like Monero) use algorithms (RandomX) that favour regular CPUs or GPUs and resist ASIC hardware. This levels the playing field for hobbyists, though the returns are still modest and dependent on electricity costs and hash power.
Cloud mining: easier, but potentially shady
Buying hashpower from providers like BitFuFu lets people invest without rig headaches. This might look tempting, but margins are opaque, and many cloud-mining services face skepticism over hidden fees and reliability.
So, is mining still worth it for South Africans?
Only under these conditions:
- Access to very cheap or renewable electricity
- Willingness to handle hardware (setup, maintenance, and noise)
- Budget for modern ASICs or GPUs
- A tolerance for razor-thin, volatile profits
- A mind for regulatory, environmental, and economic shifts
If none of the above, you’re better off just buying crypto outright (or staking) without the hassle.
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