Mining bitcoin means running specialised machines that secure the network, in exchange for new bitcoins. In countries where electricity costs a few cents, it is an industry. In a Belgian, French or German living room, it almost always loses money. Here is the honest calculation, and the rare cases where it can make sense.
How mining works
About every ten minutes, a new ‘block’ of transactions is added to the bitcoin blockchain. Miners around the world perform billions of calculations to find the solution to a mathematical problem; the first to find it validates the block and receives the block reward, plus transaction fees.
- Since the April 2024 halving, the reward has been 3.125 BTC per block. The next halving, expected in 2028, will halve it again.
- The network's total computing power was around 960 EH/s in spring 2026: an individual miner represents only a tiny fraction of it.
- Individuals therefore join a pool, which shares rewards in proportion to the power contributed.
The hardware: ASICs, not a computer
You no longer mine bitcoin with a computer or a graphics card. You need ASICs, machines designed solely for this. A recent model such as the Antminer S21 XP delivers about 270 TH/s for 3,600 W of power, and costs several thousand euros.
Three practical constraints at home:
- Noise: about 75 dB at one metre, the equivalent of a vacuum cleaner running non-stop.
- Heat: a 3.5 kW electric heater, day and night.
- Wiring: a dedicated circuit is essential.
- TransactionsWait to be validated
- MinersPerform billions of calculations per second
- The winnerAdds the block to the blockchain
- The reward3.125 BTC + fees, shared within a pool
The price of electricity decides everything
A miner's revenue is measured with the hashprice, what one unit of computing power earns per day. In May 2026, it was around $35 per PH/s per day according to Hashrate Index. For a 270 TH/s machine (0.27 PH/s), that is about $9.50 of revenue per day.
The same machine uses about 87 kWh per day. The result therefore depends almost entirely on the price per kWh:
| Electricity price | Cost per day | Result |
|---|---|---|
| €0.05/kWh (large farm, hydropower) | ≈ €4.40 | Profitable |
| €0.10/kWh | ≈ €8.70 | Roughly break-even |
| €0.30/kWh (order of magnitude for a household in Belgium) | ≈ €26 | Heavy net loss |
That is why mining has concentrated where electricity is cheapest: parts of the United States, Paraguay, Ethiopia, Kazakhstan or the Nordic countries, often near dams or sources of surplus energy.
Simulate an ASIC's profitability
Enter your electricity price: it is the line that changes everything.
When it can make sense
- Surplus solar power that would otherwise be sold back at a very low price, in summer and during the day.
- Heat recovery: an ASIC heats as much as an electric heater of the same power. If you already heat with electricity, part of the cost is ‘paid back’ by the heating in winter.
- Hosting in a farm with cheap electricity, for a fee. Be wary, though, of ‘cloud mining’ offers promising a fixed return: they are a favourite playground for scammers.
- Learning, with a small, low-power miner, accepting that it is an expense.
For an individual paying European market prices for electricity, buying bitcoin directly generally costs much less than mining it. Mining is only justified by very cheap electricity, useful heat or the wish to learn.
Tax and rules
In Belgium, mining income may be treated as miscellaneous or professional income depending on the scale and organisation of the activity. The classification is not automatic, and rules differ from country to country: ask an accountant before investing in hardware. On selling bitcoin, see crypto and stocks.
Where to find these services
- Bitmain (Antminer)The leading manufacturer of mining machines
- BraiinsMining pool and software for miners
- Hashrate IndexThe hashprice and mining market data
- mempool.spaceTo follow bitcoin network blocks and fees live
Links provided for information, with no partnership. Always check a provider's terms and authorisation before committing.
Test yourself
3 questions to check what you remember. Click an answer: the explanation appears straight away.
Question 1 of 3What has the bitcoin block reward been since April 2024?
The April 2024 halving cut it in half; the next is expected in 2028.
Question 2 of 3Which factor most determines a miner's profitability?
A recent machine uses about 87 kWh a day: at €0.30/kWh, it costs more than it earns.
Question 3 of 3When can mining at home make sense?
Without very cheap electricity, buying bitcoin is generally cheaper than mining it.
Frequently asked questions
Is bitcoin mining at home profitable in 2026?
Rarely in Europe. With electricity around €0.30/kWh, a recent machine costs clearly more in electricity than it earns. You need electricity at about €0.10/kWh or less, surplus solar power or heat recovery.
How much does a bitcoin block pay?
3.125 BTC since the April 2024 halving, plus transaction fees. The next halving, expected in 2028, will cut the reward to 1.5625 BTC.
Can you mine bitcoin with your computer?
Not in practice any more: the network's power is such that only specialised machines (ASICs) stand a chance of producing income, and even then only with cheap electricity.
Is cloud mining a good alternative?
Be careful: offers promising a fixed return are a favourite playground for scammers. Check who really owns the machines and where they are installed.
Sources
This article is educational and is not personal investment, tax or legal advice. Figures change: check them with the sources cited or a licensed professional before deciding. Read the full disclaimer.