ASIC Mining in 2025: Assessing Profitability and Algorithm-Specific Earnings

Is it worth mining on ASICs in 2025? Does it make sense to buy ASICs or is it better to assemble a farm on GPUs?
Or is the best option just investing?
In this article you will learn:
- ASIC ROI
- Which ASICs are best for mining
- Is it worth mining on ASICs in 2025?
Quick Overview: ASIC Profitability
ASIC mining is much more profitable than GPU mining.
On average, the payback period for ASICs is now from 10 months to 2 years (there are exceptions and longer).
ASICs for the new generation Scrypt algorithm pay off the fastest, but the entry threshold is ~ $ 9,000 for 1 ASIC!
An example of ASICs that pay for themselves quickly:
- Bitmain Antminer L9 (17Gh) (Scrypt) ~ $10,500
- VolcMiner D1 (17Gh) (Scrypt) ~ $9,000
- Bitmain Antminer L9 (16Gh) (Scrypt) ~ $10,000
- ElphaPex DG 1+ (Scrypt) ~ $7,500
Cost Calculation: Breaking Down ASIC Expenses
Next, you will learn about the payback of ASICs, both new and used.
Annual profit gross/net is the profit calculated without (gross) and with (net) electricity costs deducted. The calculation was based on an electricity price of $0.09 per kWh and a 1% fee.
ASIC profitability may vary due to the high volatility of cryptocurrencies. However, the essence remains the same.
Mining on most ASICs is profitable, but the entry threshold for this type of mining is very expensive!
All calculations are carried out with one unit of equipment (1 ASIC).
Bitcoin (SHA-256): Payback Analysis
First, let's look at the most popular coin - Bitcoin and ASICs for it!
ASIC Name |
Algorithm |
Average Price |
Profit per Year Gross/Net* |
Payback (net) |
Payback (gross) |
Bitmain Antminer S21 XP Hyd (473Th) |
SHA-256 |
$14500 |
10500$ / 6096$ |
2 years and 5 months |
1 year and 5 months |
Bitmain Antminer S21e XP Hyd (430Th) |
SHA-256 |
13500$ |
9516$ / 5172$ |
2 years and 8 months |
1 year and 5 months |
Bitmain Antminer S21 XP Immersion (300Th) |
SHA-256 |
8000$ |
6684$ / 3540$ |
2 years and 4 months |
1 year and 3 months |
MicroBT WhatsMiner M66S++ |
SHA-256 |
9500$ |
8016$ / 3720$ |
2 years and 7 months |
1 year and 3 months |
MicroBT WhatsMiner M63S+ |
SHA-256 |
12000$ |
9528$ / 3924 |
3 years and 1 month |
1 year and 3 months |
Bitmain Antminer S21 XP (270Th) |
SHA-256 |
8000$ |
6048$ / 3204$ |
2 years and 6 months |
1 year and 4 months |
Bitmain Antminer S21 Hyd (335Th) |
SHA-256 |
8000$ |
7512$ / 3348$ |
2 years and 5 months |
1 year and 1 month |
MicroBT WhatsMiner M63S |
SHA-256 |
7500$ |
8724$ / 3120$ |
2 years and 5 months |
11 months |
MicroBT WhatsMiner M63S++ |
SHA-256 |
12000$ |
10656$ / $2880 |
4 years |
1 year and 2 months |
Dogecoin (Scrypt): ROI Timeline
Now let's look at the payback for the Scrypt algorithm.
Notably, the most profitable ASICs for this algorithm right now, in terms of payback:
ASIC Name |
Algorithm |
Average Price |
Profit per Year Gross/Net* |
Payback (net) |
Payback (gross) |
Bitmain Antminer L9 (17Gh) |
Scrypt |
$10,500 |
$14,875 / $12,340 |
11 months |
9 months |
VolcMiner D1 (17Gh) |
Scrypt |
9000$ |
14901$ / 11868$ |
10 months |
8 months |
Bitmain Antminer L9 (16Gh) |
Scrypt |
10000$ |
14028$ / 11416$ |
11 months |
9 months |
VolcMiner D1 (15Gh) |
Scrypt |
$12500 |
13284$ / 10606$ |
1 year and 3 months |
1 year |
ElphaPex DG 1+ |
Scrypt |
7500$ |
12164$ / 9116$ |
10 months |
8 months |
ElphaPex DG 1 |
Scrypt |
8500$ |
9384$ / 6720$ |
1 year and 4 months |
11 months |
Bitmain Antminer L7 (9.5Gh) |
Scrypt |
8500$ |
8136$ / 5472$ |
1 year and 7 months |
1 year and 1 month |
Bitmain Antminer L7 (9.3Gh) |
Scrypt |
8400$ |
7956$ / 5292$ |
1 year and 8 months |
1 year and 1 month |
Bitmain Antminer L7 (9.16Gh) |
Scrypt |
8400$ |
7848$ / 5184$ |
1 year and 8 months |
1 year and 1 month |
Fluminer L1 |
Scrypt |
6000$ |
4512$ / 3576$ |
1 year and 9 months |
1 year and 4 months |
Goldshell DG Max |
Scrypt |
5500$ |
5532$ / 2892$ |
2 years |
1 year |
Goldshell E-DG1M |
Scrypt |
4000$ |
2916$ / 1524$ |
2 years and 8 months |
1 year and 5 months |
Alephium (Blake3): Mining ROI
Next, let's look at the payback of ASICs for the Blake3 algorithm (Alephium cryptocurrency):
ASIC Name |
Algorithm |
Average Price |
Profit per Year Gross/Net* |
Payback (net) |
Payback (gross) |
Bitmain Antminer AL1 Pro (16.6Th) |
Blake3 |
$10,500 |
$12,708 / $9,804 |
1 year and 1 month |
10 months |
Bitmain Antminer AL1 (15.6Th) |
Blake3 |
10000$ |
11946$ / 9216$ |
1 year and 2 months |
11 months |
IceRiver AL3 |
Blake3 |
4500$ |
11460$ / 8736$ |
7 months |
5 months |
Goldshell AL Max |
Blake3 |
4000$ |
6348$ / 3744$ |
1 year and 1 month |
8 months |
Goldshell E-AL1M |
Blake3 |
3500$ |
3252$ / 1848$ |
2 years |
1 year and 1 month |
IceRiver AL2 Lite |
Blake3 |
1000$ |
1476$ / 1080 |
11 months |
9 months |
DragonBall Miner A40 |
Blake3 |
4500$ |
2436$ / 1188$ |
4 years |
2 years |
Ethereum Classic (EtHash): Profitability
Ethereum Classic is a popular coin for mining. After Ethereum switched to PoS, it remained the king of GPU mining.
However, over time, it was dominated by ASICs. Let's look at the payback of ASICs for the EtHash algorithm:
Name of ASIC |
Algorithm |
Average price |
Profit per year Gross/Net* |
Payback (Net profit) |
Payback (Gross profit) |
Bombax Miner EZ100-PRO |
EtHash |
13500$ |
7524$ / 5112$ |
3 years |
1 year and 10 months |
Bombax Miner EZ100 |
EtHash |
13000$ |
6120$ / 4332$ |
3 years and 1 month |
2 years and 2 months |
iPollo V2 |
EtHash |
$12500 |
4884$ / $3720 |
3 years and 5 months |
2 years and 7 months |
Jasminer X16-P |
EtHash |
7000$ |
2844$ / 1368$ |
5 years |
2 years and 6 months |
Bombax Miner EZ100-C |
EtHash |
4500$ |
1848$ / 1260$ |
3 years and 7 months |
2 years and 6 months |
iPollo V2H |
EtHash |
4500$ |
1644$ / 1272$ |
3 years and 7 months |
3 years |
Kadena (KDA): Payback Projections
Next, let's look at the ASIC payback for the Kadena (KDA) coin:
ASIC Name |
Algorithm |
Average Price |
Profit per Year Gross/Net* |
Payback (Net) |
Payback (Gross profit) |
Bitmain Antminer KA3 (173Th) |
Kadena |
4000$ |
4956$ / 2400$ |
1 year and 8 months |
10 months |
Bitmain Antminer KA3 (166Th) |
Kadena |
3700$ |
4752$ / 2292$ |
1 year and 8 months |
10 months |
Bitmain Antminer KS5 Pro (21Th) |
Kadena |
$4000 |
$600 / operating at a loss |
operating at a loss |
7 years |
Equihash (ZEC/ZEN): Earnings Outlook
The next algorithm is Equihash. This algorithm and its coins are not so popular anymore, but ASICs for it are still being released:
ASIC name |
Algorithm |
Average price |
Profit per year Gross/net* |
Payback (net) |
Payback (gross) |
Bitmain Antminer Z15 Pro |
Equihash |
3500$ |
3912$ / 1752$ |
2 years |
11 months |
GRIN (Cuckatoo32): Viability in 2025
ASIC Payback for the Cuckatoo32 algorithm, coin - GRIN:
ASIC Name |
Algorithm |
Average Price |
Profit per Year Gross profit/Net profit* |
Payback (Net profit) |
Payback (Gross profit) |
iPollo G1 Mini |
Cuckatoo32 |
500$ |
166$ / 73$ |
7 years |
3 years |
iPollo G1 |
Cuckatoo32 |
5000$ |
4968$ / 2784$ |
1 year and 10 months |
1 year |
Kaspa (KHeavyHash): Profitability Insights
Initially, this algorithm was developed for GPU mining, but later it was dominated by ASICs:
ASIC Name |
Algorithm |
Average Price |
Profit Per Year Gross/Net* |
Payback (Net) |
Payback (Gross) |
Bitmain Antminer KS5 Pro (21Th) |
KHeavyHash |
4000$ |
4169$ / 1719$ |
2 years and 4 months |
1 year |
Bitmain Antminer KS5 (20Th) |
KHeavyHash |
$3000 |
3972$ / 1632$ |
1 year and 11 months |
10 months |
IceRiver KS2 Lite |
KHeavyHash |
1000$ |
398$ / 9$ |
100+ years |
3 years |
Final Verdict: ASIC Profitability in 2025
As you can see, there are ASIC models that pay for themselves in less than a year!
Example:
- Bitmain Antminer L9 (17Gh) - 11 months
- VolcMiner D1 (17Gh) – 10 months
Yes, these are ASICs for the Scrypt algorithm, that is, for the Dogecoin coin, which is growing rapidly.
For example, if Dogecoin’s value falls to $0.1 (currently $0.4), then the payback will be other:
Bitmain Antminer L9 (17Gh):
- 2 years and 6 months Gross profit
- 2 years and 9 months Net profit
It turns out the payback period will increase almost 3 times!
With Bitcoin, things are not much worse, but the payback there is on average about 2 years!
At the moment, the best ASICs now are ASICs for the Scrypt algorithm!
For other algorithms, buying ASICs is not very profitable, firstly, they do not have the most reliable coins, and secondly, most often the payback there is a little longer!
Best ASICs for Mining
The best ASICs at the moment are:
- Bitmain Antminer L9 (17Gh) (Scrypt) ~ 10500$
- VolcMiner D1 (17Gh) (Scrypt) ~ 9000$
- Bitmain Antminer L9 (16Gh) (Scrypt) ~ 10000$
- ElphaPex DG 1+ (Scrypt) ~ $7500
- Bitmain Antminer S21 XP Immersion (300Th) (SHA-256) ~ $8000
- Bitmain Antminer S21 XP Hyd (473Th) (SHA-256) ~ $14500
- IceRiver AL3 (Blake3) ~ $4500
- IceRiver AL2 Lite (Blake3) ~ $1000
All these ASICs are for reliable algorithms (and reliable coins, like Bitcoin, Doge, etc.).
Used ASICs: Risks to Avoid
If you need a quick answer - NO, don't.
Now let's talk about this in more detail.
Average lifespan of ASICs: 3-5 years (sometimes less).
Most often, ASICs are monitored much worse than farms on GPU. They are not properly cleaned of dust less often, and additional cooling is not always considered.
Also, which is no less important, there are many reviews of ASICs on the Internet, where users report that their equipment begins to lose power after 1-2 years of active use (24/7).
It turns out that by buying a used ASIC, you might end up with equipment that not only has lower performance but is also operating with significant wear.
Unlike GPUs, ASICs are very difficult to repair, and often repairs are more expensive than new equipment, and it is not a fact that there will be such specialists in your city!
What types of ASIC breakdowns occur:
- Overheating
- Power supply malfunctions
- Problems with chips
- Problems with firmware
- Problems with coolers
- Problems with the network card
- Controller failure
- Wear of capacitors and other components
- Mechanical damage
Conclusion: buying used ASICs is not justified, risky, and there is a high chance that the equipment will not last long! Plus, checking the operation of ASIC is much more difficult than using used GPUs!
Is ASIC Mining Worth It in 2025?
In general, if compared to mining on GPUs, mining on ASICs, on most equipment, is very profitable!
ASICs pay off from 10 months to 2 - 3 years (there are exceptions with a payback of more than 5 years). This is if we are talking about modern equipment that was released in 2023-2024!
However, unlike GPU mining, the entry threshold for ASIC mining is very high!
On average, you will need $9,000+ and this is only for 1 ASIC!
In GPU mining, you can buy, conditionally, just 1 GPU for your PC for $700-1000 and mine in your free time.
If we compare just investing in crypto or ASIC mining, then we need to take into account some points.
ASIC mining:
- Very noisy, not everyone can mine in an ordinary apartment
- Just 1 ASIC can consume 6000+ Watts, which is not suitable for an ordinary apartments
- You need to take care of ASICs: blow off dust, monitor the temperature and, if necessary, additionally cool them
- The ASIC can break / fail and you most likely will not have a warranty, or it will be very difficult to use
Investments in crypto (long-term / hold):
- Buy the coin you need once / several coins (maximum a couple of times when buying in a ladder)
- Monitor the rates once a day
- Sell when the market starts to grow
If you have, for example, $9,000 and you want to either buy an ASIC or invest it in crypto, then take into account all of the above points.
Yes, you can conditionally sell the ASIC in 2-3 years, with a loss of 40% of its cost.
With investing you will spend less time. Plus you will be able to split your budget into several coins.
On average, those who invest for the long term - receive from 2x to 4x returns and more.
However, you must weigh all the risks yourself and make your decision!