The mining value of Pi Network needs to be rationally evaluated from multiple dimensions in 2025. According to the economic model set in the project white paper, the third phase of the mainnet will be entered in 2025. It is expected that the annual mining output will decrease by 50% compared to 2022, and the average daily basic mining income of a single account may drop to the range of 0.5-1.2π. However, considering that the global user base has exceeded 50 million and is growing at an average monthly rate of 3%, the potential value brought by the network effect still cannot be ignored. The current temporary trading price range within the community is $0.08 to $0.25. If calculated based on the median of $0.15, the annualized mining income is approximately $27 to $65 in US dollars. Moreover, the energy consumption cost is almost negligible, consuming only about 0.003% of the daily power of a smartphone.
The actual monetization capacity of mining earnings depends on the progress of ecological development. As of the second quarter of 2024, the Pi ecosystem has integrated over 300 Dapps, covering scenarios such as e-commerce, gaming, and social interaction. The number of merchants supporting PI direct payment has exceeded 150,000. Especially in the Southeast Asian market, 30% of convenience stores in Ho Chi Minh City, Vietnam, have accepted Pi payment, and the average annual transaction frequency of PI payment users in Manila, Philippines, has reached 18 times. If the mainnet can successfully connect to mainstream exchanges like Binance in 2025, based on historical data of similar projects (such as the Helium network token’s first-week increase reaching 350%), early miners may obtain excess returns.
However, the mining value is confronted with many uncertain factors. From a technical perspective, the current TPS (Transactions per Second) of the mainnet is limited to 50 transactions, which is a generation gap compared to the 100,000 transactions of Ethereum 2.0. Whether the scalability plan can be implemented in 2025 remains uncertain. In terms of regulatory risks, the US SEC filed lawsuits against four mobile mining projects in 2023, accusing them of unregistered securities issuance, which led to a 60% plunge in the prices of related tokens in a single day. Community research data shows that approximately 40% of users choose to exit after a 36-month mining cycle. The user retention rate needs to be increased to over 75% to maintain network stability.
To comprehensively assess the mining value in 2025, it is recommended to adopt a dynamic calculation model. Assuming that π is listed on the exchange in 2025 and its price reaches $0.5, users who have accumulated mining for three years may obtain a stock of 500 to 2,000 π, corresponding to a value of $250 to $1,000. Compared with traditional proof-of-work mining (where the electricity cost of Bitcoin mining accounts for 65% of the revenue), Pi’s zero-cost feature still makes it attractive. However, it is necessary to pay attention to the conditions such as KYC certification and lock-up mechanism set by the project party. The actual tradable ratio may only account for 40% of the total. According to the assessment report released by the Stanford University Blockchain Lab in 2024, Pi Network’s innovation score reached 82/100, but its technology implementation index was only 67/100. It is recommended that investors keep the mining time cost within an average of 10 minutes per day to maintain a reasonable input-output ratio.