The Cointelegraph Research Terminal, the leading provider of premium databases and institutional-grade research on blockchain and digital assets, has added a new report to its expanding library. The latest paper looks at a particular group of players in the Bitcoin (BTC) mining industry. Published by crypto consulting firm Crypto Oxygen, the report highlights the current landscape of publicly listed crypto mining companies that control approximately 17% of the total hash rate of the entire Bitcoin network.
The crypto mining industry is a quickly growing and evolving sector. In January this year, a United States-based company Core Scientific went public via a special purpose acquisition company (SPAC) merger, making it the largest publicly traded crypto mining company in revenue and hash rate. Core Scientific’s hash rate leads all public companies with 8.3 exahashes per second (Eh/s), and it mined 5,769 BTC in 2021, generating about $545 million in revenue. Coming in second and third in terms of revenue are Riot Blockchain and Hive Blockchain Technologies, earning $215 million and $195 million, respectively.
Strategic, operational and financial breakdown
Hash rate and revenue are just a few ways to distinguish between companies, but they don’t paint the whole picture since some firms have revenue models separate from their core mining activity. The report dissects such key stats and offers a more detailed comparison, encompassing each company’s strategic, operational and financial performance.