Six Largest Crypto Mining Companies

Six Largest Crypto Mining Companies

Since the introduction of cryptocurrencies, we’ve been seeing many mining companies come around. In the beginning, miners were at the top of the chain, and the best way to get cryptocurrencies at the time was to have a mining rig. Today, there are several ways to get crypto, thanks to the advancements in crypto technology. 

Depending on your preference, you can even use your cryptocurrencies to place UFC best bets or on other sports. Cryptocurrencies are becoming a top contender today, and we’re confident that there is more to come. With the growth of the crypto world, let’s check out some top crypto mining companies. 

These companies are dedicated to providing mining services, and as a result, they’ve become some of the top brands in crypto mining. In that case, we’ve listed six of them for you. You should keep reading to find out more about these mining companies. Without wasting time, let’s find out about them. 

Marathon Digital Holdings

Marathon Digital Holdings has a market capitalization of about $2.71 billion and continues to grow. The company was one of the pioneers and one of the first to start trading on NASDAQ. They focus on developing North America’s most significant and lowest-cost mining operations. 

The company recently entered a deal with Compute North to get a 300 MW facility, and the facility would be housing around 73,000 miners. In addition, it would be 100% carbon neutral. And by April 2022, the company reported that it had produced about 1,259 bitcoins in the first quarter of 2022. 

Riot Blockchain

Another name on our list is Riot Blockchain, one of the top cryptocurrency mining companies trading on NASDAQ. The company currently has a market capitalization of about $2.26. It is an impressive company with plenty of aspects, which includes facilities hosting bitcoin mining tools for customers. 

The company reported in March that they’ve produced around 511 bitcoins, which is about a 176% increase from what they produced 12 months prior. The company also boasted a hash rate capability of about 4.3 exahashes each second. And at the start of April, they deployed about 42,919 miners.  

Canaan

Canaan is a crypto mining hardware company located in Hangzhou, China. The company invented one of the first ASIC-controlled bitcoin mining systems in 2013. Since then, they’ve grown to become one of the world’s largest cryptocurrency mining hardware providers and are continuously growing.

The company makes top-notch artificial intelligence chips to aid commercial use, which depends on the Risc-V architecture. Canaan reported that it received a massive boost, and in the revenue highlights, it has amassed $342.8 million in that period, which is over 60% more than the last quarter. 

Hut 8 Mining

Hut 8 Mining has become one of the largest mining companies, especially in Ethereum and Bitcoin. The company has over 121 MW of power capacity, and other than that, it has three digital assets mining facilities. It also has five different tiers of data centers to provide high-performing computations and over 400 commercial high-grade computing customers.

The company has had a massive boost over the years, and one of the most significant was when it had up to 327% increase in its annual revenues when bitcoin hit its all-time high. Other than mining, the company has diversified, and they have now ventured into the business of data centers. 

HIVE Blockchain

HIVE Blockchain is a top company specializing in digital mining assets, including bitcoin, Ethereum, and Ethereum classic. The company was listed and first publicly traded as a cryptocurrency miner in 2017 on the TSX Venture Exchange. Since then, the brand has become a top crypto mining agency. 

The company plans to secure extra ASIC and GPU hardware, which will improve its hash rate from 3.3 exahashes of bitcoin to 6.2 exahashes of BTC equivalent in a year. If they can achieve this, we will see them grow in market capitalization and start to rival other top crypto mining companies. 

Bitfarms

In North America, we have a couple of top cryptocurrency mining institutions, and Bitfarms is one of them. If you’re looking for a top-notch option that provides incredible crypto mining services, you should check out Bitfarms. The company currently has five hydro-powered facilities in Canada, where it offers computing power to mine bitcoin and other cryptocurrencies.

Aside from making money from mining, the company also gets payment from crypto networks for the processing and securing of transactions. The company reported finalizing the first 12 MW of its Bunker Site in Quebec. With the upgrade, the company is getting an additional 3000 miners to improve the operations. 

As a result, it would improve the capacity, adding more than 300 petahashes each second to the current online hash rate, making it a top option for crypto mining.

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