Top 5 Bitcoin Mining Companies in the World

In this piece, we will take a look at the top five Bitcoin mining companies in the world. For more companies, head on over to Top 15 Bitcoin Mining Companies in the World.

5. Hut 8 Mining Corp. (NASDAQ:HUT)

Market Capitalization as of November 30, 2022: $219.61 million

Hut 8 Mining Corp. (NASDAQ:HUT) is a Canadian firm with large scale Bitcoin mining operations. The firm is based in Toronto, Canada.

Hut 8 Mining Corp. (NASDAQ:HUT) has three mining centers. Two of these are located in Alberta and one is located in Ontario. Hut 8 Mining Corp. (NASDAQ:HUT) mined 982 Bitcoins during the third quarter of this year, which marked for 8.5% annual growth fueled by hash rate efficiency and facility expansion.

Two out of the 920 hedge funds part of Insider Monkey’s Q3 2022 survey had held a stake in Hut 8 Mining Corp. (NASDAQ:HUT).

Ken Griffin’s Citadel Investment Group is Hut 8 Mining Corp. (NASDAQ:HUT)’s largest hedge fund shareholder. It owns 21,239 shares that are worth $750,000.

4. Cipher Mining Inc. (NASDAQ:CIFR)

Market Capitalization as of November 30, 2022: $219.97 million

Cipher Mining Inc. (NASDAQ:CIFR) is an American Bitcoin mining firm that is a relatively younger company since it was set up in 2021. The company is based in New York, New York, United States.

Cipher Mining Inc. (NASDAQ:CIFR) mined 196 Bitcoins during the third quarter of this year, and the firm is aiming to reach a hash rate of 7 EH/s by early 2023. The company also began operations in its Odessa data center in November 2022, with its four data centers aimed to expand capacity to 267 megawatts by early 2023.

Insider Monkey’s third quarter of 2022 survey covering 920 hedge funds revealed that 13 had invested in Cipher Mining Inc. (NASDAQ:CIFR).

3. Canaan Inc. (NASDAQ:CAN)

Market Capitalization as of November 30, 2022: $412.38 million

Canaan Inc. (NASDAQ:CAN) is a Chinese firm that assembles, designs, and sells Bitcoin mining equipment. The firm is based in Beijing, the People’s Republic of China.

Canaan Inc. (NASDAQ:CAN) sells Bitcoin mining machines such as the A1366 with a whopping 130TH/s hash rate and 3250 Watts of power consumption. The firm sold 3.5 million TH/s of computing power during the third quarter of this year, for marked decreases over the second quarter and the year ago quarter.

As part of their September quarter of 2022 investments, nine of the 2022 hedge funds polled by Insider Monkey had held a stake in Canaan Inc. (NASDAQ:CAN).

Out of these, Douglas Harold Hart Polunin’s Polunin Capital is Canaan Inc. (NASDAQ:CAN)’s largest investor. It owns 1.4 million shares that are worth $4.6 million.

2. Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Market Capitalization as of November 30, 2022: $688.20 million

Marathon Digital Holdings, Inc. (NASDAQ:MARA) is an American firm that was set up in 2010 and is headquartered in Las Vegas, Nevada. The company mines Bitcoin and has a blockchain platform.

Marathon Digital Holdings, Inc. (NASDAQ:MARA) mined 616 Bitcoins during the third quarter of this year, and year to date the firm has produced 2,582 Bitcoins. These add to the 8,115 Bitcoins that Marathon Digital Holdings, Inc. (NASDAQ:MARA) by the end of December 2021.

Insider Monkey’s Q3 2022 survey of 920 hedge funds revealed that eight had bought Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s shares.

1. Riot Blockchain, Inc. (NASDAQ:RIOT)

Market Capitalization as of November 30, 2022: $709 million

Riot Blockchain, Inc. (NASDAQ:RIOT) focuses on Bitcoin mining, data center operations, and electrical products. The company is headquartered in Castle Rock, Colorado.

Riot Blockchain, Inc. (NASDAQ:RIOT) had a strong year last year when it grew its Bitcoin balance sheet by 353% to 4,884 Bitcoins. The firm is also aiming to deploy a staggering 116,150 Antminer application specific integrated circuits (ASICs) by January 2023 for a total power capacity of 370 megawatts.

13 out of the 920 hedge fund portfolios analyzed by Insider Monkey for their September quarter of 2022 investments had held a stake in Riot Blockchain, Inc. (NASDAQ:RIOT).

Out of these, Dmitry Balyasny’s Balyasny Asset Management is Riot Blockchain, Inc. (NASDAQ:RIOT)’s largest shareholder. It owns 1.2 million shares that are worth $8.8 million.

Disclosure: None. You can also take a look at 15 Biggest Holding Companies in the World and Biggest Korean Companies by Market Cap. 

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