Number of BTCs held by Bitcoin mining companiesThe Bitcoin mining company with the most BTC holdings is MarathonDigitalHoldings, which holds 13726 BTCs, accounting for 35% of all well-known Bitcoin mining companies' BTC holdings.It operates over 150000 mining equipment with a total computing power of 23
Number of BTCs held by Bitcoin mining companies
The Bitcoin mining company with the most BTC holdings is MarathonDigitalHoldings, which holds 13726 BTCs, accounting for 35% of all well-known Bitcoin mining companies' BTC holdings.
It operates over 150000 mining equipment with a total computing power of 23.1EH/s, accounting for 4.8% of the global Bitcoin network. MarathonDigital has a market value of $1.64 billion.
This leading Bitcoin mining company has achieved TTM revenue of $17 million in the past 12 months, an increase of 47.8% compared to the previous period.
Currently, the top 14 Bitcoin mining companies hold a total of 38903 Bitcoins. However, this only accounts for 0.18% of the maximum supply of Bitcoin (21 million), far lower than MicroStrategy's 152333 Bitcoin holdings.
MarathonDigital, Hut8MiningCorp, and RiotPlatforms are the three largest listed Bitcoin miners with the most Bitcoin holdings. These three companies hold a total of 30401 BTC, accounting for 78% of the total holdings of BTC, a leading mining company.
The top three Bitcoin mining companies all hold over 3000 Bitcoins. In contrast, the remaining 11 companies each hold less than 3000 BTCs, totaling 8502 BTCs.
Riot has the highest market value, but only holds 7309 BTCs
The market value of RiotPlatforms is the largest among Bitcoin miners, reaching $1.94 billion, 18% higher than MarathonDigital. Although RiotPlatforms reported TTM revenue of $250 million, which is 47% higher than MarathonDigital. But RiotPlatforms only holds 7309BTC, which is about half of MarathonDigital's Bitcoin holdings.
Among the listed mining companies holding 1000 to 3000 Bitcoin slots, CleanSpark (2240BTC) has the highest market value at $625 million, more than twice the market value of the other two companies (HiveDigitalTechnologies 2032BTC and Canaan Inc. 1125BTC). However, Canaan Inc. has the highest revenue at $270 million TTM, 93% higher than CleanSpark and 226% higher than HiveDigitalTechnologies.
It is worth noting that CleanSpark produced 5327 BTCs throughout the year. This indicates that they have actively utilized their Bitcoin holdings in terms of operations. In contrast, HiveDigitalTechnologies produced 1889 Bitcoins during the same period, but held a slightly higher number of Bitcoins.
The remaining 9 listed Bitcoin mining companies have the lowest number of Bitcoins, each with less than 1000BTC. BitDigitalInc BitfarmsLimited and CipherMining hold 821, 760, and 553 BTC respectively.
BitDigital stands out for operating a massive fleet of 44886 mining machines, of which approximately 99% use carbon free energy. In contrast, Bitarms has 62300 miners, of which 78% of their energy comes from hydropower. In September 2023, despite having fewer miners and low computing power (1.19EH/s), BitDigital still produced 821BTC, while Bitarms had higher computing power at 6.3EH/s, resulting in 411BTC output in the same month.
From the perspective of companies holding less than 500 BTCs, DMGBlockchainSolutions holds 468 Bitcoins, while Neptune DigitalAssetsCorp holds 250 Bitcoins, following closely behind, 46% less than DMG's holdings. BitMiningLimited holds 210BTC. All three companies have a market value of less than $50 million.
Meanwhile, ArgoBlockchain and CoreScientificInc. hold the fewest Bitcoins, with 32 and 10 BTCs, respectively. CoreScience was once the largest listed mining company and has been in bankruptcy proceedings since December 2022, resulting in a decrease in its Bitcoin holdings.
Note: This study investigated the Bitcoin holdings of publicly listed Bitcoin mining companies based on SEC documents, financial reports, and the latest company news articles as of November 1, 2023. This study excluded Bitcoin mining companies that were unable to obtain publicly available data, including but not limited to private companies, BitdeerTechnologies Group, TeraWulf, BIGGDigitalAssets, BitNileHoldings, and Iris.
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