While Bitcoin mining profits crashed in Q4 as the BTC price dropped 23%, cutting the fiat value of block rewards and fees income, miners are still ending their most successful year ever. During the past three months, they raked in $3.93 billion, an eye-watering $1 billion drop from the record $4.93 billion in Q3, but still enough to push the cumulative annual revenue to all-time highs.
According to data from TechGaged.com, Bitcoin miner revenue reached a whopping $16.75 billion by late December, almost $3 billion higher than in 2024 and $130 million above the previous record set in 2021.
Four of the Ten Best Months Ever for Crypto Mining Happened in 2025
Although 2025 has been a bumpy ride for Bitcoin miners, they still managed to turn it into their best year so far. First, the crypto market slowdown in Q1 hit them hard, as falling Bitcoin prices, decreased network activity, and shrinking transaction fees wiped out hundreds of millions of dollars in earnings. According to data from The Block, miners made $3.81 billion that quarter, or $650 million less than in the same period of 2024.
But the trend took a dramatic turn in Q2 as transaction fees spiked due to network congestion and increased on-chain activity. Bitcoin’s strong performance in May also boosted miners’ earnings, and as a result, their quarterly revenue surged 24% year over year to $4.05 billion. And while Q2 figures were quite impressive, they exploded in Q3.
That quarter alone, miners raked in almost $5 billion – the highest quarterly figure ever recorded, averaging $1.64 billion per month, or 92% more than in the same period last year. While their Q4 profits plunged by a considerable $1 billion due to market turbulence and Bitcoin`s 24% price drop, miners still made a hefty $3.93 billion, or $440 million more than in the same period of 2024.
This strong result, reported despite market turbulence, helped make 2025 the best year for crypto mining so far. With $16.75 in 12-month earnings, miners raked in nearly $3 billion more than last year, $6 billion more than in 2023, and $7 billion more than in 2020, breaking the previous 2021 record by $130 million. Moreover, this means that four of the ten best months for crypto mining ever occurred in 2025, trailing only March, April, and October 2021, and March 2024.
Miners Raked In $900 Million More on Average Per Quarter
A deeper look at quarterly revenue figures also shows just how successful 2025 has been for Bitcoin miners. Last year, they averaged $3.1 billion per quarter, with quarterly totals ranging from $2.55 billion to $4.46 billion, which is a massive $1.91 billion gap.
In 2025, the revenue difference was much smaller- around $1 billion- with quarterly figures ranging from $3.91 billion to $4.93 billion. Moreover, the data show that miners earned an average of $4.2 billion per quarter this year, up $900 million from 2024.
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