Cryptocurrency mining returns are highly sensitive to Bitcoin’s price volatility and energy costs. In 2023, miners earned $7.7 billion in rewards, but rising electricity prices and a 16.8% CAGR in mining costs through 2026 challenge margins. Trend data highlights a shift to decentralized mining pools and AI-driven efficiency tools to counter costs. While U.S. miners generated $187 million monthly in 2024, high energy costs eroded profits for 80% of older rigs. Investment returns are viable for diversified, large-scale miners in low-cost regions, but small miners face diminishing prospects without significant capital or renewable energy access.