Golden Finance reports that as publicly listed mining companies prepare to announce their third-quarter financial reports, the latest data from September shows a significant reshuffling in the Bitcoin mining rankings over the past year. The rankings, once dominated by a few clear leaders, now indicate that a new wave of medium-sized mining companies is quickly closing in on the top positions after a year of aggressive expansion.
Cipher Mining, Bitdeer, and HIVE Digital have climbed to the upstream ranking of realized hashrate, narrowing the gap with long-time leaders like MARA, CleanSpark, and Bitmain's proxy company Cango. Their rise highlights the trend of mid-sized public mining companies—once far behind—rapidly expanding capacity since the halving in 2024.
In September 2025, publicly listed mining companies achieved a total realized hash rate of 326 EH/s, up from 150 EH/s a year ago, accounting for approximately 31.6%, compared to 22% in September last year. This indicates that publicly listed mining companies not only grew rapidly before entering the financial reporting season but also exhibited a deeper trend of centralization.
MARA, CleanSpark (CLSK), and Cango (CANG) still hold the top three positions among publicly traded mining companies, with achieved hash rates of 53.3 EH/s, 45.6 EH/s, and 44.7 EH/s, respectively. However, several medium-sized mining companies rapidly closed the gap after 2024: IREN achieved a 167% growth, entering the top tier; Cipher Mining (CIFR) grew by 152%, reaching 18.2 EH/s; Bitdeer (BTDR) increased by 267% through the new SEALMINER deployment, reaching 32.7 EH/s; HIVE benefited from a new hydroelectric mining site in Paraguay, nearly raising its hash rate from 5.3 EH/s to 19.3 EH/s over the past year.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The largest Bitcoin futures position whale on Hyperliquid is shorting BTC while going long on crude oil.
According to BlockBeats, on March 25th, on-chain analyst Ai Ayi detected an address that shorted BTC and went long crude oil in a short period of time, with a total position value reaching $89.79 million, becoming the largest position in Hyperliquid BTC. The specific holdings consist of 40x short positions on 1,000 BTC and 20x long positions on 202,000 barrels of crude oil.
BlockBeatNews2m ago
An address on Hyperliquid established an 89.79 million dollar perpetual position, shorting BTC while going long on crude oil.
March 25 news: Analysts discovered that address 0x94d...33814 established a large contract position on the Hyperliquid platform with a total value of $89.79 million, becoming the largest BTC contract position address. The position includes 1,000 BTC short contracts at 40x leverage and 202,000 crude oil long contracts at 20x leverage.
GateNews14m ago
Despite Deep Bear Market, Bitcoin CEX Balance Hits Near Two-Year Low, Showing Accelerating Whale Accumulation
BlockBeats News: On March 25, according to Coinglass data, recently Strategy and on-chain whales have significantly accelerated their accumulation of Bitcoin. Bitcoin's balance in CEX wallets has reached a two-year low of 2.4633 million coins.
In the past 24 hours, CEX has seen a net outflow of 8,323.72 bitcoins. Over the past 30 days, the net outflow has reached 32,190.17 coins.
BlockBeatNews31m ago
GameStop Reports 2025 Fiscal Year Q4 Financial Results: Operating profit of $135.2 million, Bitcoin and related receivables valuation of $368.4 million
GameStop Corp. announced its fiscal 2025 fourth quarter financial results with net sales of $1.104 billion, down year-over-year; operating income of $135.2 million, up year-over-year; adjusted net income of $291.4 million, up year-over-year; and cash balance reaching $900 million, a significant increase.
金色财经_36m ago
