The thermodynamic analysis of an increasing-pressure endothermic power cycle (IPEPC) integrated with closed-loop geothermal energy extraction (CLGEE) in a geothermal well at a depth from 2 km to 5 km has been carried out in this study. Using CLGEE can avoid some typical problems associated with traditional EGS technology, such as water contamination and seismic-induced risk. Simultaneous optimization has been conducted for the structural parameters of the downhole heat exchanger (DHE), the CO2 mixture working fluid type, and the IPEPC operating parameters. The CO2-R32 mixture has been selected as the optimal working fluid for the IPEPC based on the highest net power output obtained. It has been found that, when the DHE length is 4 km, the thermosiphon effect is capable of compensating for 53.8% of the pump power consumption. As long as the DHE inlet pressure is higher than the critical pressure, a lower DHE inlet pressure results in more power production. The power generation performance of the IPEPC has been compared with that of the organic Rankine cycle (ORC), trans-critical carbon dioxide cycle (t-CO2), and single-flash (SF) systems. The comparison shows that the IPEPC has more net power output than other systems in the case that the DHE length is less than 3 km, along with a DHE outer diameter of 0.155 m. When the DHE outer diameter is increased to 0.22 m, the IPEPC has the highest net power output for the DHE length ranging from 2 km to 5 km. The application scopes obtained in this study for different power generation systems are of engineering-guiding significance for geothermal industries.