Overview of Bitcoin Mining from Public Companies
• The hash rate share of the top public mining companies has increased from 23.93 EH/s to 56.98 EH/s (an 82% YoY increase).
• Core Scientific leads the pack, with approximately 30% of the hash rate share.
• The hash rate of these ten companies is estimated to be around 60 EH/s, which makes up roughly 20% of the total hash rate over a 7-day moving average.
Top Public Miners
Core Scientific leads the pack amongst public miners in terms of hash rate, with Riot and Marathon coming in second and third place respectively. Combined, they account for almost 60% of all public mining companies‘ hash rates. Most of the top ten miners have experienced an increase or stay steady YOY in terms of their percentage shares in total hash rate.
Hash Rate & Difficulty Increase
The increasing trend in Bitcoin’s hash rate is shown clearly on charts and has been on a positive incline since July 2021 following China’s mining ban. This growth has led to an upcoming 10+% adjustment in difficulty on Friday 24th February – this will be the biggest increase since October 2022 and September 2021 combined.
Security & Demand for Bitcoin
The higher difficulty indicates an ever-increasing demand for Bitcoin and its underlying technology, as well as improved security within the network due to more robustness of its hashing power. Furthermore, this also shows that miners are more confident than ever when it comes to investing into BTC production which can only lead to good things for users around the world!
Publicly traded BTC miners have seen huge growth over the years; Core Scientific being at the forefront with a 30% share in total hashrate followed by Riot and Marathon with almost 60%, together accounting for most publicly traded miner’s shares Then we see a rise in both Hashrate and Difficulty indicating increased confidence among investors towards BTC, leading to better security within its network and more demand from users worldwide!