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
Mainstream CEX and DEX funding-rate displays suggest an increasingly bearish market sentiment
On April 10, the Bitcoin price broke through $72k again. According to Coinglass data, the funding rates on major trading platforms show that the market’s bearish sentiment is strengthening. Funding rates are used to balance the contract price with the asset price; a rate below 0.005% indicates that the market is broadly bearish.
GateNews6m ago
Over the past 1 hour, forced liquidations across the entire market totaled $101 million, including $80.39 million in BTC liquidations.
Gate News message, on April 9, CoinGlass data shows that over the past 1 hour, liquidations across the entire network totaled $101 million, including $97.07 million from short liquidations and $3.54 million from long liquidations. In addition, the liquidation amount for BTC reached $80.39 million, while the liquidation amount for ETH reached $11.79 million.
GateNews41m ago
CME Group BTC futures liquidity falls to a 14-month low, with basis trading failures triggering institutional capital outflows
The Chicago Mercantile Exchange’s Bitcoin futures market has continued to weaken. In March 2026, the daily average open interest fell to $7.2 billion, hitting a new low since February 2024, and has been declining for five straight months. The main reason is the large-scale unwinding of basis trades, which eliminated the arbitrage spread and caused leveraged capital to exit.
GateNews42m ago
BTC 15-minute pump of 1.03%: integer-level breakout and macro risk-hedging resonance amplifying the move
From 2026-04-09 15:30 to 15:45 (UTC), the BTC return rate recorded +1.03%, with the price ranging from 71,291.5 to 72,226.9 USDT, and the amplitude reaching 1.31%. During the abnormal move, market attention rose rapidly, volatility noticeably intensified, and prompted investors to closely watch short-term trends.
The main driver behind this abnormal move was BTC breaking through the 72,000 USDT integer level at 15:34, which directly activated some algorithmic trading and drew short-term funds in. The rapid breakout above this key price level boosted spot and derivatives trading volumes in the short term
GateNews56m ago
Bitcoin wallet Nunchuk releases open-source tools, enabling AI agents to interact with the wallet
Bitcoin Wallet Nunchuk released an open-source tool on April 9 that supports interactions with AI agents. It includes the Nunchuk CLI command-line tool and the Agent Skills code repository, providing a variety of wallet management features.
GateNews1h ago
BTC Breaks Through 72000 USDT
Gate News bot 消息，Gate 行情显示，BTC 突破 72000 USDT，现价 72000 USDT。
CryptoRadar1h ago
