Abstract: Deep mine geothermal resources constitute a significant component of China’s geothermal resources. The large-scale, efficient development and utilization of mine geothermal resources are crucial for ensuring energy supply in mining areas, optimizing the energy structure in mining areas, and promoting green and low-carbon transformation, and are therefore of great importance for achieving China’s strategic goals of carbon peaking and carbon neutrality. The coal-geothermal co-mining technology is an effective method for developing and utilizing mine geothermal energy, which not only reduces the risk of mine water inrush but also fully unlocks resource development potential. To further advance this technology and provide engineering application references for mines with geothermal development potential, an integrated technical approach to mine geothermal water development was proposed, comprising analysis of geothermal genesis, resource evaluation, delineation of geothermal reservoirs and water-rich zones, optimization of the production-system layout, resource utilization and benefit evaluation. China’s first industrial trial on the development and utilization of mine geothermal water was conducted at Pingdingshan Tianan Coal Industry Co., Ltd. No. 10 Mine. This study analyzed the genesis of geothermal resources in the mining area by investigating regional structures and hydrogeological conditions, calculated the resource reserves and development potential using the geothermal reservoir volume method and numerical simulation, designed a mine geothermal resource development and utilization system based on underground transient electromagnetic exploration data and the existing mine production-system layout, and evaluated the comprehensive benefits of geothermal development along with an economic sensitivity analysis. The results indicate that, the geothermal resources in Pingdingshan No. 10 Mine are primarily controlled by regional geological structures, with atmospheric precipitation, surface rivers, and reservoir water serving as the main recharge sources of geothermal fluids. Heat transfer from the Earth’s deep interior due to basement uplift acts as the primary heat source, while surface limestone outcrops and faults constitute the main groundwater flow pathways. The coal-bearing sandstone and mudstone assemblage forms a water-resisting caprock, and the axis of the Likou Syncline forms a local water and heat accumulation center, ultimately creating a geothermal reservoir. The total geothermal resources in the mining area amount to 11.85 × 10⁷ J, equivalent to 40.44 million tons of standard coal. Underground transient electromagnetic technology was employed to accurately delineate water-rich zones in the geothermal reservoir, and geothermal production wells were installed, achieving stable extraction of geothermal water at 52 ℃ and 190 m³/h. A dedicated multistage lifting and transportation system for geothermal water was established by retrofitting the existing mine production system. A geothermal water heat-pump system was designed to meet the heating demand of 80 000 m² of buildings in the mining area and the requirement for 3 800 m³ of chilled water for underground use. No significant variation in the produced-water temperature was observed during the long-term operation of the geothermal wells. The total investment in the mine geothermal water development project was 27.1627 million yuan, with an annual comprehensive economic benefit of 10.1798 million yuan. The net present value of the project was 28.9887 million yuan. Life cycle assessment calculations showed an average annual profit of 6.0683 million yuan. Compared with conventional coal-fired heating, geothermal water heating can reduce carbon emissions by 9 970 t/a, demonstrating significant safety, economic, and environmental benefits. Sensitivity analysis indicates that the project’s profitability is highly dependent on steam prices and that project implementation requires stable and sustained heat demand and a reasonable heat-pricing mechanism. Challenges in the coal-geothermal co-mining mode were systematically summarized across five aspects, economics, extraction, transportation, utilization, and safety. Future research directions for mine geothermal development and utilization were outlined to promote the large-scale application of mine geothermal energy, facilitate the green and clean transformation of mining areas, and support their long-term sustainable development.