Bitcoin Miners Generate $800M in Q1 2025, Hoskinson Predicts $250K BTC by Year-End

The cryptocurrency industry is charging into 2025 with renewed vigor, as the world’s largest Bitcoin mining companies collectively generated nearly $800 million worth of BTC in the first quarter alone, riding the wave of strong prices and expanding operations.

Simultaneously, Cardano founder and Ethereum co-creator Charles Hoskinson has projected that Bitcoin could skyrocket to $250,000 by the end of the year, citing a combination of regulatory clarity, growing adoption by tech giants, and shifting global economic dynamics.

Hoskinson, who also serves as CEO of Input Output Global (IOHK), painted a scenario in which multiple global catalysts converge to reignite Bitcoin’s price. He believes that the markets will stabilize, the Federal Reserve will lower interest rates, and fast, cheap money will pour into crypto.

Hoskinson cited three key factors that he believes will fuel Bitcoin's surge: explosive user growth, geopolitical decentralization, and impending US crypto legislation. He also predicted that major technology firms could become direct players in the cryptocurrency market, integrating crypto into their platforms with clearer stablecoin regulations in place.

Hoskinson isn’t predicting an immediate skyrocket. Instead, he sees a short-term period of stagnation followed by an intense speculative push. He believes that the crypto market will stall for the next three to five months, and then a huge wave of speculative interest will come, probably in August or September, into the markets, and that will carry through probably another six to 12 months.

In related news, Bitcoin mining firms have kicked off 2025 with remarkable momentum, generating close to $800 million in mined BTC during the first quarter alone. The largest publicly traded Bitcoin mining companies produced a combined 9,746 BTC in Q1. This extraordinary output comes as miners ramp up production to capitalize on favorable market conditions and prepare for the anticipated effects of the upcoming halving event.

Marathon Digital Holdings, the largest Bitcoin mining company by market capitalization, led the industry with a staggering 2,285 BTC mined in Q1. The company’s production trajectory has been steadily rising, culminating in a 17.4% month-over-month increase in March when it mined 829 BTC.

CleanSpark, the second-largest producer in Q1 by volume, mined 1,950 BTC worth nearly $160 million. The firm reported a 13.4% increase in its March production compared to February, reflecting consistent operational expansion.

Iren, came in third with 1,513 BTC mined in Q1, valued at approximately $124 million. Its March output of 533 BTC represented a 16.1% increase from February, underlining the company’s push to regain market share after a relatively modest 2024.

Riot Blockchain, the second-largest company in the sector by market capitalization, mined 1,428 BTC — about $117 million — making it the fourth-largest producer this quarter. In March, Riot matched Iren’s monthly output of 533 BTC, marking a 13.4% increase from the previous month.

Hut 8 Mining had the smallest production volume among the top players — mining 199 BTC worth roughly $16 million — but it recorded the highest growth rate across the sector. In March, Hut 8 mined 88 BTC, marking a 91% surge from its 46 BTC production in February. Hut 8’s performance spike coincided with a groundbreaking partnership announcement on March 31: the company has teamed up with to launch a new mining venture dubbed “American Bitcoin.”

The Q1 production figures reflect a broader theme in 2025: industrial Bitcoin mining is maturing. The largest players continue to consolidate their position with greater operational efficiency, tighter integration with energy providers, and increased political engagement. Bitcoin’s elevated trading range is providing strong tailwinds for miners. At the same time, growing anticipation around the next halving event, expected in early 2026, is prompting firms to expand capacity now to maximize profitability before rewards are reduced. Additionally, with lawmakers moving closer to passing key digital asset legislation and stablecoin regulation, publicly traded miners are beginning to factor regulatory clarity into their long-term capital planning — potentially setting the stage for new entrants and more institutional investment.