No, you could not mine Ethereum in 2023 because the main network switched from Proof-of-Work (PoW) to Proof-of-Stake (PoS) in "The Merge" event of September 2022, ending mining and replacing it with staking, so miners had to switch to other coins like Ethereum Classic (ETC) or repurpose hardware.
Can you still mine Ethereum? In 2022, Ethereum transitioned from a Proof of Work (PoW) system to Proof of Stake (PoS) through a major upgrade known as the Ethereum Merge. This change means that mining ETH is no longer possible.
The Ethereum (CRYPTO: ETH) blockchain went live 10 years ago. If you'd invested $1,000 in Ethereum at that time when it was trading at $2.79, you could have bought about 358 ETH tokens. Your investment would now be worth nearly $1.4 million at the time of this writing (Aug. 8).
Short answer: No—Ether (ETH) can't be mined anymore because Ethereum moved from Proof-of-Work to Proof-of-Stake (The Merge). You can now earn ETH by staking it or buying it; miners have switched to PoW coins like Ethereum Classic (ETC), Ravencoin, or Kaspa.
Ethereum mining is no longer possible since 2022 due to its transition from Proof of Work (PoW) to Proof of Stake (PoS). This change, known as “The Merge,” replaced mining with staking, where validators secure the network by locking up ETH instead of using energy-intensive hardware.
5 years ago: If you invested $1,000 in Ethereum in 2020, your investment would be worth $11,145. 10 years ago: If you invested $1,000 in Ethereum in 2015 when it traded at $1.27, your investment would be worth nearly $3.4 million.
The time to mine 1 Ethereum varies based on your hardware and hash rate. On average, a high-end rig with 100 MH/s could take around a month when mining in a pool.
The centerpiece asset of this financial system is the ETH token, and in our updated base case, we believe it to be worth $22k by 2030, representing a total return of 487% from today's ETH price, a compound annual growth rate (CAGR) of 37.8%.
It Ethereum Mining Still Profitable? Because Ethereum shifted to proof-of-stake in 2022, you cannot mine ether. But you can mine altcoins that use the same algorithm as Ethereum used to, and some may be profitable.
Arthur Hayes, co-founder of BitMEX, also believes that $10,000 Ethereum by the end of 2025 seems well within reach. In a July blog post, Hayes laid out his thesis, tying the potential price surge to U.S. President Donald Trump's economic policies and what he describes as a shift to a wartime economy.
Investing $100 in Ethereum is a small entry point into the Cryptocurrency market. While there's potential for high returns, Ethereum's price is volatile. Researching Ethereum's technology and the broader market is crucial. Consider dollar-cost averaging to minimise risk.
In 2010, Bitcoin's price was approximately $0.08. A $10,000 investment at that time would have purchased about 125,000 Bitcoins. By 2025, with Bitcoin's value at around $50,000 per coin, that investment would be worth an astonishing $6.25 billion.
XRP (CRYPTO: XRP) and Ethereum (CRYPTO: ETH) are two of the best high-upside cryptocurrency investment options. They both have demonstrated the ability to skyrocket in price, and both have strong potential catalysts. In the past, both have minted their fair share of millionaires.
Ethereum mining is no longer possible due to Ethereum's shift to Proof of Stake (PoS) with the Ethereum Merge. While mining is no longer viable, staking is a great alternative that offers passive income without the need for expensive mining equipment.
Popular apps include: MinerGate: One of the most well-known apps for Android devices. It allows you to mine Bitcoin, Ethereum, Litecoin, and more. MinerGate offers a simple dashboard and easy-to-use mining controls — great for beginners.
A continued deterioration in global risk sentiment - whether due to interest-rate concerns, ongoing selling in high-growth tech stocks or additional leveraged unwinding - could push Ether toward lower price zones that several strategists have identified as potential next stops.
In solo vs pool mining, solo miners can earn the full block reward, which is higher per block, but blocks are found very rarely. Pool mining provides smaller but frequent payouts, making it more predictable for most miners.
Mining can still be profitable in 2025, but not for everyone. It depends on several factors: Low electricity costs: Miners with access to cheap power have a clear advantage. Efficient hardware: Modern ASICs and optimized setups are essential.
Is it worth keeping my Ethereum? It depends on your long-term goals and belief in Ethereum's future potential. Most accomplished investors will argue that the HODL strategy is always the best for future gains, but you must be able to wait out any downward turns.
If you invested $1,000 in Ethereum five years ago (around early 2020), your investment would be worth roughly $11,000 to $11,500 today (late 2025), representing an 11x return, though this fluctuated significantly with market ups and downs, reaching high points but also experiencing sharp drops. For instance, at mid-2020 prices (around $400-$435), $1,000 bought about 2.3 ETH, which was worth nearly $11,400 by late August 2025.
Market context
Tom Lee, head of research at Fundstrat, CIO of Fundstrat Capital and chairman of BitMine Immersion Technologies (BMNR), told CoinDesk last month that ETH could reach $15,000 by the end of 2025.
Ethereum mining ended with The Merge in 2022, transitioning the network to Proof of Stake (PoS) for greater efficiency and sustainability. Staking Ethereum is the primary alternative to mining, offering rewards without the need for expensive hardware or high energy consumption.
However, as a general notice, it is not advised to try and mine Ethereum on a laptop - this is a great way to overheat and break your device down completely. ASICs have a few options to choose from when it comes to Ethereum mining software, but the most common one would probably be Easy Miner.
Like most crypto mining processes, mining on the Ethereum network demands the use of high levels of computing power to solve mathematical puzzles. Since Ethereum is a highly popular crypto network, Ethereum miners need to compete against thousands of other miners to become the first to validate a new block.