Only 5% of Bitcoin Remains to Be Mined as the Network Enters Its Final Era
Bitcoin is entering a historic phase: as of mid-November 2025, miners have just 1.05 million BTC left to extract out of the fixed 21 million supply. With 95% of all coins already mined, the network is approaching the long-anticipated final era of issuance.
A Predictable but Increasingly Challenging Emission Curve
Bitcoin’s supply schedule is governed by halving events, which cut block rewards roughly every four years. As rewards shrink, each unit of BTC becomes harder to earn, raising both operational pressure and competitive intensity among mining firms. Current projections indicate that 99% of all BTC will be mined by 2035, while 99.9% will not be reached until around 2047 due to progressively smaller block subsidies.Profitability Is Under Pressure Even at $90,000 BTC
The latest analysis from JPMorgan suggests that mining profitability has fallen into negative territory at the current market price of around $90,000. The combination of reduced block rewards, rising energy costs, and global competition is squeezing margins, particularly for miners without access to ultra-cheap electricity or vertically integrated operations.Industry leaders warn that many operators face an existential challenge. According to MARA Holdings, survival now depends on access to low-cost power, investment in next-generation hardware, and diversification into adjacent businesses such as AI computing or high-performance data centers.
A Turning Point for the Mining Industry
As the network approaches the final fraction of its supply, mining economics are experiencing the most dramatic shift in Bitcoin’s history. The long-term security model increasingly relies on transaction fees, while competition intensifies for the diminishing block reward. With only 5% of BTC left to mine, the sector is preparing for a future defined by consolidation, innovation, and operational efficiency.The approaching end of Bitcoin issuance is both symbolic and structural: it underscores the asset’s digital scarcity and marks the transition toward a fee-driven security model that may reshape the economics of mining for decades to come.
Editorial Team — CoinBotLab