Mid-tier Bitcoin miners gain ground, reshaping post-halving competition
Cointelegraph
Mid-tier Bitcoin miners are rapidly increasing their realized hashrate, narrowing the gap with industry leaders following the 2024 halving.Summary
The Bitcoin mining industry is seeing a shift in competitive dynamics post-2024 halving, as mid-tier public miners like Cipher Mining, Bitdeer, and HIVE Digital significantly expand their realized hashrate, closing in on established leaders such as MARA Holdings, CleanSpark, and Cango. While the top miners still dominate, rivals have scaled production rapidly. This competition is fueling massive capital expenditure, evidenced by total sector debt surging to $12.7 billion, as miners invest in new rigs and infrastructure to maintain their share of the network's hashrate. Some companies are also diversifying into AI and high-performance computing to offset reduced margins from the lower block rewards.
(Source：Cointelegraph)