Gemini Mines Bitcoin with a Tesla Cybertruck

At the ongoing Bitcoin 2025 Conference, Gemini presented a live demonstration that combined electric vehicle technology and Bitcoin mining.

The company showcased a Tesla Cybertruck “Cyberbeast” edition, wrapped in a custom Bitcoin-themed vinyl, mining Bitcoin on-site using a Bitaxe device. The display was part of a broader marketing campaign around a sweepstakes promotion.

Gemini Mines Bitcoin with a Cybertruck

Specifically, Gemini’s demonstration showed how a Cybertruck, which boasts an 845-horsepower tri-motor system and 11,000-pound towing capacity, could double as a mobile mining rig.

Mining bitcoin from the Cybertruck ⚡️ @SoloSatoshi pic.twitter.com/4rlyemPToV

— Gemini (@Gemini) May 28, 2025

Interestingly, behind this mining operation was a Bitaxe, a compact, energy-efficient Bitcoin miner. This specific model was developed by Solo Satoshi, a provider of home-based Bitcoin mining solutions.

The model used in the demo was the Bitaxe Gamma. Interestingly, the miner connects via Wi-Fi, operates quietly, and is designed for easy setup, making it suitable for at-home and portable mining.

The demo was a product of Gemini’s partnership with Solo Satoshi at the conference. Solo Satoshi builds open-source mining hardware for individuals. The company reported over 10,000 miners sold last month, contributing more than 10 petahashes (PH) of total global hashpower.

Gemini’s Cybertruck Sweepstakes

Meanwhile, the demonstration was part of Gemini’s Cybertruck sweepstakes, open to U.S. residents aged 18 and older. The promotion, running from May 19 to June 18, 2025, offers two winners a Tesla Cybertruck “Cyberbeast” edition, each valued at about $113,735.

Winners will also receive a $2,000 travel stipend for picking up the vehicle and a cash prize to help cover taxes. Notably, entrants earn one entry for every $50 spent on the Gemini Credit Card or traded on the Gemini Exchange.

Each person can accumulate up to 20,000 entries, with a maximum of 10,000 from card use, 10,000 from trading activity, or through alternate methods of entry.

Bitcoin Mining Trends in 2025

Meanwhile, the marketing push arrives at a time of major changes in the Bitcoin mining sector. The April 2024 halving slashed mining rewards from 6.25 BTC to 3.125 BTC, leading to a drop in profit margins.

Last month, the hashprice, a measure of revenue per terahash per second, dropped to $0.049, down from $0.12 the year before. Meanwhile, network difficulty reached an all-time high of 123 trillion, requiring more energy-efficient setups to remain profitable.

Despite challenges, the global hashrate continues to climb. As of this month, the network’s total hashrate hit 831 exahashes per second (EH/s), with peaks reaching 921 EH/s earlier in the month.

This marks a 77% increase from the 2024 low of 519 EH/s, due to new hardware deployments and rising Bitcoin prices. For context, Bitcoin recently claimed a new all-time high close to $112,000, and some analysts expect it to reach $225,000 later in 2025.