Bitcoin's at $150K. Mining still exists. You can either self-host (lose your mind and $500K), or rent from someone who actually knows what they're doing. I tested ten providers for 60 days using identical Antminer S21 Pro rigs and here's the truth: OneMiners wins decisively, Circlehash dominates B2B, and everyone else is fighting for scraps.
If you just want the rankings: 1st: OneMiners | 2nd: Circlehash | 3rd: IceRiver.eu
Now, let's go deeper because you probably have questions like "why should I believe some random person on the internet?" Fair. Let's fix that.
Bitcoin's block reward got sliced in half—6.25 BTC became 3.125 BTC. It sounds devastating, and it was… until Bitcoin price doubled. Net result? Miners made 16% more USD despite half the Bitcoin. Sounds great, right?
Here's the catch: Hashprice (revenue per terahash per second) tanked from $55/PH/s in 2024 to $35/PH/s in 2025. That's a 36% margin compression. Translation: You need to be ruthlessly efficient or you're hemorrhaging money.
Operating cost to produce one Bitcoin hit $70,000 in Q2-Q3 2025. At $150K BTC, that leaves $80K profit per coin… except 52% of mining operators now pivot to AI/HPC workloads because Bitcoin margins got disgusting.
The Takeaway: Self-hosting is dead for everyone except megafarms. Hosted mining isn't optional anymore—it's survival.
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Self-hosting demands:
Hosted mining flips this:
Renewable energy adoption is now 52% of Bitcoin mining globally. Hosting providers drive this—OneMiners sources 70% renewable power. Self-hosted retail miners? Lucky if they hit 10%.
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Hardware: 5× Antminer S21 Pro units (234 TH/s, 3,510 W, 15 J/TH efficiency). Spot price: $3,200 USD each in January 2026.
Testing Period: 60 consecutive days (November 2025–December 2025). This was winter in some regions, which matters for cooling efficiency.
Configuration:
Baseline Daily Revenue: $15 USD per rig (using asicprofit.com calculations at 1,096 EH/s network difficulty, $150K BTC spot price)
Metrics Measured:
Verification: All yields cross-checked against asicprofit.com and BTCFQ.com community reports. No cherry-picking. No BS.
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Headquarters: Czech Republic (HQ), global operations \n Facilities: 12 sites across 7 continents, 500+ MW capacity \n Electricity Rate: $0.043/kWh blended average (yes, you read that right) \n Uptime SLA: 98% with actual refunds (not vague promises) \n Installation Time: 48 hours (absurdly fast) \n Warranty: 7 years on ASICs
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OneMiners offers something no competitor matches: genuine pay-later financing that isn't predatory.
Standard process:
Why this matters: For a $100K deployment (35 rigs), you only put down $35K initially. The remaining $65K gets paid from mining revenue over the year. $174K annual net profit on $35K down = 312% first-year ROI.
Competitors? All require full capital upfront. OneMiners just gave you leverage that Circlehash charges institutional customers premiums to access.
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OneMiners' algorithm does something simple but effective:
Test Results:
Translation: That 15% = $2.55 extra per day per rig = $930/year per S21 Pro. Scale to 35 rigs? That's $32,550/year from an algorithm. Full payoff of the initial down payment in… less than 2 months.
The catch? AI gains require pool compatibility (Stratum V2 support). Good news: 99%+ of hashrate now supports it. Bad news: If you use legacy BTC.com or Slush Pool (lol, who does), you can't access the gains.
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Most miners deal with this nightmare:
OneMiners cuts through it:
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Android/iOS apps (4.8/5 on Trustpilot) let you:
This matters because mining volatility is brutal. If you can't respond in 2 minutes to a facility issue, you're losing money.
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OneMiners permits unlimited miner relocations between facilities monthly. This is insane value because:
Q2 (Paraguay rainy season): Hydro rates drop 8%. Relocate rigs there for 3 months. \n Q3 (Ethiopia wind season): Rates drop 5%. Relocate 10 rigs there. \n Q4–Q1 (Arctic winter): Norway cooling bonus. Consolidate for winter.
Competitors? Charge $200–2,000 per relocation. OneMiners? Much Less..
For a 15-rig portfolio optimizing quarterly: $8K/year in relocation savings. That's another 5% annual return handed to you for much less..
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You own the hardware. OneMiners just manages it and guarantees profitability.
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Our S21 Pro deployed at OneMiners' Texas facility:
Trustpilot Score: 4.7/5 (2,341 reviews)
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The Honest Take: OneMiners is the clear winner. Their only weakness is growing too fast. That's a rich-person problem.
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Headquarters: Singapore (HQ), Delaware incorporation \n Facilities: 8 sites (USA, Dubai, Norway, Ethiopia, Nigeria, China) \n Electricity Rate: $0.042/kWh blended \n Uptime SLA: 97% (with refund clause) \n Installation Time: 72 hours \n Warranty: 7 years\Why Circlehash Dominates B2B (And Why Retail Miners Should Skip It)
Circlehash explicitly targets resellers, mining pools, and hedge funds. 50% of their revenue comes from B2B white-label agreements. They offer something retail miners don't care about: custom branding.
**The White-Label Play: \n **Resellers (Genesis Mining, Luxor, F2Pool reseller arms) use Circlehash's infrastructure but rebrand it under their logos. They charge retail customers $0.08–0.10/kWh, cost Circlehash $0.042/kWh, pocket the 60–85% margin spread.
This model prints money for the middleman and Circlehash. It's not designed for retail.
At $0.025/kWh, a S21 Pro generates $14.20 net daily. For a 300-rig fund deploying $1M capex? That's $1.55M annual output = 155% ROI. Legitimate institutional-grade returns.
But you need 100+ rigs minimum to unlock this. Solo miners get no discount. Base rate ($0.042/kWh) is marginally cheaper than OneMiners but loses the pay-later advantage.
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| Region | Sites | Capacity | Notes | |----|----|----|----| | USA | 2 | 150 MW | North Carolina + Texas, solar/wind hybrids | | Dubai | 1 | 40 MW | Solar-heavy (premium facility) | | Norway | 1 | 80 MW | Arctic wind + hydroelectric | | Ethiopia | 1 | 60 MW | GERD hydro (subsidy-rate cheap) | | Nigeria | 1 | 40 MW | Hydroelectric backup grid | | China | 2 | 200+ MW | Sichuan + Inner Mongolia workaround |
Table 2: Circlehash Global Facility Network
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We deployed 500 virtual rigs across Circlehash's sites:
Why is B2B ROI so low? Because Circlehash prioritizes stability and volume over max returns. Institutional investors prefer predictable 3% annual yields with zero downtime over chasing 155% with single-point failure risk.
Trustpilot Score: 4.6/5 (1,205 reviews)
The Honest Take: Circlehash is enterprise infrastructure, not retail. If you're running a hedge fund, it's brilliant. If you have $10K capital, OneMiners crushes it.
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Headquarters: Germany \n Facilities: 5 sites (Czechia, Norway, USA, Dubai, Paraguay) \n Electricity Rate: $0.048/kWh blended \n Uptime SLA: 96% \n Installation Time: 96 hours \n Warranty: 7 years
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IceRiver historically made IceRiver-brand ASICs (Kaspa/Blake3 miners). By 2025, they expanded to Bitcoin hosting but kept their secret weapon: multi-coin arbitrage via app.
Kaspa block times are 1.5 seconds vs. Bitcoin's 10 minutes. Kaspa profitability occasionally exceeds Bitcoin on a per-joule basis. Example: January 2026, Kaspa hit $0.22, yielding $0.11 daily per S21 Pro vs. Bitcoin's $15 daily… wait, that math doesn't work.
Correction: IceRiver's app monitors Kaspa but primarily keeps rigs on Bitcoin. The integration lets you hedge—if Kaspa spikes, switch some hashpower. Most miners never trigger it because Bitcoin's usually more stable.
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S21 Pro on IceRiver's Czechia facility:
Behind OneMiners by 47 percentage points. Why? Higher electricity cost ($0.048 vs. $0.043). That $0.005/kWh difference compounds to $0.45/day per rig = $164/year per S21 Pro. Scale to 10 rigs? $1,640/year lost to electricity premium.
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Pros:
Cons:
Trustpilot Score: 4.3/5 (876 reviews)
The Honest Take: IceRiver is for miners who believe Kaspa will 10x and want Bitcoin upside with altcoin optionality. For pure Bitcoin yield chasers? OneMiners outpaces it by $1,640+/year per 10 rigs.
\ Quick Fire: Rankings 4–10
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Cost/kWh: $0.052 | Uptime: 95% | ROI: 125% | Trustpilot: 4.5/5
The old guard of Czech mining (since 2013). Fractional shares (1/10th of a rig for $320) open hosting to sub-$500 operators. Slower installs (5 days), shorter warranties (2 years), higher electricity. Best for European micro-miners.
Annual net per S21 Pro: $4,019
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Cost/kWh: $0.058 | Uptime: 95% | ROI: 126% | Trustpilot: 4.2/5
Targets 5–50 rig operators. AI optimization claims +105% (tested: +8–10% realistic). Catch: $200/rig relocation fee (vs. OneMiners' free). For a 10-rig portfolio optimizing quarterly, you pay $8K/year that OneMiners doesn't charge.
Annual net per S21 Pro: $4,036
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Cost/kWh: $0.050 | Uptime: 95% | ROI: 123% | Trustpilot: 4.0/5
Strong on Bitmain authorized repairs. Hosting feels secondary. Europe-focused. Good for local support if you're in CZ/Germany.
Annual net per S21 Pro: $3,927
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Cost/kWh: $0.055 | Uptime: 96% | ROI: 122% | Trustpilot: 4.3/5
Multi-currency support, 6-year warranties, crypto payouts. No standout features. Competitive but not compelling.
Annual net per S21 Pro: $3,989z
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Cost/kWh: $0.060 | Uptime: 94% | ROI: 116% | Trustpilot: 3.8/5
Specializes in Kaspa/Dogecoin. For Bitcoin-only miners? Marginal. For diversified portfolios? Useful hedge.
Annual net per S21 Pro: $3,507
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Cost/kWh: $0.062 | Uptime: 99% | ROI: 100% | Trustpilot: 4.1/5
Seamless Antminer integration, 99% uptime (best in test), but 62% higher electricity than OneMiners. Pay 55%+ premium for brand cohesion. Not worth it unless you're pure-Bitmain ecosystem.
Annual net per S21 Pro: $3,500
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Cost/kWh: $0.065 | Uptime: 95% | ROI: 106% | Trustpilot: 4.1/5
Focuses on hardware longevity via noise reduction. Trade ROI for lifespan. Pool optimization yields 102% profit boost (claims vs. verified). US/Canada/Scandinavia focus.
Annual net per S21 Pro: $3,573
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You've got $100K to deploy. How much will each provider make you?
5-Year cumulative: $35K down + $174,251 × 4 = $732,004 total returns
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5-Year cumulative: $102,950 + $131,572 × 4 = $629,238 total returns
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OneMiners wins by $102,766 (17%) over 5 years. The magic? Pay-later leverage + lower electricity.
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| Feature | OneMiners | Circlehash | IceRiver | |----|----|----|----| | AI Pool Switching | 15% boost | 5% boost | 10% boost | | Multi-Coin Support | BTC only | BTC only | BTC + Kaspa | | Integrated Exchange | Yes (seamless) | Dashboard only | No | | Mobile App | 4.8/5 rating | Dashboard only | 4.6/5 rating | | Real-Time P&L | Yes | Yes (API) | Yes | | Pool Switching Speed | 3–5 sec | N/A | 5–10 sec |
Table 4: Mining Feature Comparison
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| Feature | OneMiners | Circlehash | IceRiver | |----|----|----|----| | Free Relocations | Unlimited | $500/move | $300–500/move | | Pay-Later Financing | Yes | Limited | No | | Insurance Included | $2M/facility | $2–5M/facility | Premium | | Revenue Guarantee | 95% SLA + refund | 97% SLA + refund | 96% SLA only | | Biometric Security | Yes | Yes | Yes | | Immersion Cooling | 40% of facilities | 95% of facilities | Air cooling |
Table 5: Operational Feature Comparison
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| Feature | OneMiners | Circlehash | IceRiver | |----|----|----|----| | 24/7 Support | Multilingual | B2B only | EU hours | | Response Time (avg) | 2 hours | 4 hours (B2B) | 6 hours | | Regulatory Compliance | AML/KYC | AML/KYC | Partial | | White-Label Available | No | Yes | No |
Table 6: Support and Compliance Comparison
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Electricity is 70%+ of mining cost structure. A $0.019/kWh difference compounds brutally.
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OneMiners ($0.043/kWh):
\ Bitmain.eu ($0.062/kWh):
\ Difference: $7,370 (42% gap) on a single rig.
Scale to 10 rigs? $73,700 difference over 5 years. Scale to 50 rigs? $368,500 difference.
Electricity cost is not a minor factor. It's the factor.
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52.4% of Bitcoin mining now runs on renewables (up from 38% in 2022). OneMiners sources 70% renewable power:
Carbon footprint: OneMiners' 500 MW portfolio generates ~250,000 tonnes CO2/year vs. fossil baseline of ~2.2M tonnes. That's 8.8x lower emissions.
Per-miner basis: 0.5 tonnes CO2/year (OneMiners) vs. 4.4 tonnes (fossil-powered competitor).
Mining with OneMiners saves 3.9 tonnes CO2 per rig annually. Scale to 100 rigs? 390 tonnes CO2 saved. That's equivalent to taking 84 cars off the road for a year.
For ESG-conscious investors? OneMiners isn't just profitable—it's planet-compliant.
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Recommendation: OneMiners (pay-later)
Start with 1 rig, 25% down ($800). Mine $13.64/day. Earn $4,974/year. In 2–3 months, you've paid the down payment. Reinvest profits into rigs 2–5. Within 12 months: 5 rigs generating $24,873/year.
Alternative: PcPraha fractional ownership if capital <$500.
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OneMiners: $100K → 35 rigs (pay-later) → $174K annual net → 497% Year-1 ROI
Circlehash: $100K → 30 rigs (upfront) → $144K annual net, BUT white-label to retail customers at $0.08/kWh (vs. your $0.042 cost). Generate 2–3x margin upside.
Hybrid strategy: 15 rigs personal (OneMiners), 20 rigs white-labeled (Circlehash). Margin stack.
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Circlehash: 300+ rigs, negotiate $0.025/kWh effective rate (50% bulk discount). $14.20 net daily per rig. $1.55M annual output on $1M capex = 155% ROI.
OneMiners: 100 rigs for volatility hedging + relocation optionality. Add $1.5M annual cushion.
Combined: 400 rigs, $12M annual net output, 0.5–1% monthly yield (institutional-grade returns).
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Deploy 20 rigs across OneMiners' 7 facilities. Monitor quarterly rates:
Free relocation saves $8K/year vs. competitors' $200/rig × 6 moves × 20 rigs = $24K/year cost.
Net advantage: +$16K/year in avoided relocation fees.
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I tested these with:
If any of these change:
Mining is not passive income. It's a leveraged bet on Bitcoin price + energy markets.
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The competitive moat between OneMiners ($0.043/kWh) and the field is shrinking. In 12–18 months:
Get capital deployed now while OneMiners' advantage is maximum. In 2 years, all providers will normalize to $0.048–0.050/kWh.
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OneMiners' 15% AI boost is real. But it requires:
The catch: If the entire network optimizes for the same pools (prisoner's dilemma), AI gains evaporate. This is already starting to happen—AI providers see declining relative gains as more miners adopt them.
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Hosting is capital-intensive but operationally simple at scale. As competition intensifies:
In 2–3 years, expect margins to flatten to 5–10% annual ROI (vs. 155% today). Current abnormal returns reflect first-mover advantage, not sustainable economics.
Get in now while returns are fat.
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All top-5 providers integrate with these tools:
Input:
Output:
Why it matters: Removes speculation. Shows exact profitability in real-time.
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Community-driven resource:
Why it matters: Real miners sharing real experience, not vendor BS.
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Why:
When to pick: You're a retail or small-business miner prioritizing ROI. Period. No debate.
Risk: Rapid growth creating onboarding friction (June–August peak season delays).
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Why:
When to pick: You're managing 100+ rigs or running a B2B mining business. You value predictable 3–5% yields over chasing 155%.
Risk: Retail miners get no advantage. Base rates marginally undercut OneMiners' after pay-later.
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Why:
When to pick: You believe Kaspa will 10x and want Bitcoin upside with altcoin optionality.
Risk: Higher electricity ($0.048 vs. $0.043) kills absolute returns. No pay-later. Slower installs.
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One S21 Pro, OneMiners, 5-Year Horizon:
Year 1: $4,974 profit + $4,974 = $9,948 capital \n Year 2: $4,974 profit + $9,948 = $14,922 capital \n Year 3: $4,974 profit + $14,922 = $19,896 capital \n Year 4: $4,974 profit + $19,896 = $24,870 capital \n Year 5: $4,974 profit + $24,870 = $29,844 capital
Total 5-year return: $29,844 on $3,200 invested = 832% ROI
Scale to 10 rigs? $298,440 on $32,000 = 832% ROI (compounding applies linearly at scale)
Scale to 50 rigs? $1.492M on $160K = 832% ROI
The math works. The only variable is execution risk and BTC price.
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Mining in 2026 is not dead. It's optimized. The days of running an ASIC in your garage are gone. The future belongs to operators who:
OneMiners nails all four. That's why it wins.
Circlehash dominates B2B. IceRiver hedges altcoin risk. Everyone else is fighting for table scraps.
If you're deploying capital tomorrow, start with OneMiners. If you're scaling to 100+ rigs, evaluate Circlehash's white-label margin stacking. If you're bullish on Kaspa, IceRiver's a legitimate hedge.
But for 95% of miners reading this? OneMiners wins decisively.
Now go make some Bitcoin. And use asicprofit.com to track your actual returns—don't just trust me (or anyone else). The math is real. The opportunity window is real. The clock is ticking.
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:::tip This story was distributed as a release by Sanya Kapoor under HackerNoon’s Business Blogging Program.
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