Bitcoin Network Hashrate

Total computing power securing Bitcoin, monthly averages in EH/s (exahashes per second). Higher hashrate means stronger security but tighter miner margins.

Updated at May 2026

Public Miner Hashrate Share

Self-mining hashrate (in EH/s) for the 13 US-listed public Bitcoin miners, who together run about a third of the network.

Network total

982 EH/s

Public miners

385.5 EH/s

Public share

39.3%

Updated at May 2026

Daily BTC Mined per Public Miner (Monthly)

Monthly BTC production by 11 listed public miners. The April 2024 halving cut block reward 6.25 to 3.125 BTC; CLSK now leads, MARA and RIOT contest second.

Updated at 2026-05-31

Per-Miner BTC HODL Trajectory (Quarterly)

Bitcoin treasury holdings (BTC) at quarter-end across 11 public miners, 2022-2026. The dispersion between pure HODLers and sellers is the story.

Updated at 2026-05-31

Hashprice Over Time

Hashprice ($/TH/day) is daily miner revenue per unit of hashrate, the cleanest gauge of mining unit economics. Shown from the 2021 peak to today.

Updated at 2026-05-31

Miner AI/HPC Pivot Tracker

Public Bitcoin miners' announced AI/HPC hosting deals, where mining power and sites are repurposed for AI compute. Tracks counterparty, MW, and status.

Deals tracked

Operational MW

1033 MW

Active contracted MW

2183 MW

Miner	Counterparty	MW	Years	Status	Announced	Note
Core Scientific (CORZ)	CoreWeave	590	12	Operational	2024-06-04	Original $8.7B 12-year hosting deal (June 2024); expanded February 2025 to 590 MW across six sites, lifting projected revenue to $10.2B over 12-year terms. CoreWeave then offered $9B all-stock acquisition (July 7 2025); merger terminated October 30 2025 after shareholders rejected by 89% on 80% turnout. Hosting contracts remain in force and have continued to expand.
Cipher Mining (Cipher Digital) (CIFR)	Amazon Web Services (AWS)	300	15	Announced	2025-11	Black Pearl site (Wink, TX) 300 MW lease, $5.5B contracted revenue. AWS guarantees base rent + opex. Mining at Black Pearl decommissioned Feb 2026; HPC service revenue starts late 2026.
Cipher Mining (Cipher Digital) (CIFR)	Fluidstack (Google guaranty)	300	10	Announced	2025-Q4	Barber Lake (TX) campus, 300 MW. Google guaranty backstops Fluidstack. Combined with Black Pearl, total contracted revenue ~$9.3B.
Applied Digital (APLD)	CoreWeave	250	15	Operational	2024-06	Polaris Forge 1 (Ellendale, ND) initial 250 MW lease across two ~15-year leases (~$7B contracted).
Applied Digital (APLD)	Undisclosed investment-grade hyperscaler	200	10	Announced	2025-09	Polaris Forge 2 (ND) $5B AI Factory lease announced with US-based investment-grade hyperscaler; tenant identity TBD.
IREN (IREN)	Microsoft	200	5	Announced	2025-11	$9.7B AI Cloud agreement signed November 2025: 200 MW critical IT load at Childress (TX) 750 MW campus, NVIDIA GB300 GPUs deployed in 4 phases through 2026, $5.8B Dell GPU procurement, 20% Microsoft prepayment. Targets ~$1.94B annualized run-rate revenue when fully operational.
Applied Digital (APLD)	CoreWeave	150	15	Announced	2025	Third 150 MW building option exercised; expected online 2027. Brings total CoreWeave commitment at Polaris Forge 1 to 400 MW (~$11B contracted).
Hut 8 (HUT)	Bitmain (Hut 8 + Bitmain JV)	80	7	Operational	2024-12	Hut 8 + Bitmain joint venture for AI hosting (Vega site). Hut 8 repositioned as energy infrastructure platform after spinning self-mining into American Bitcoin (ABTC).
TeraWulf (WULF)	Core42 (G42 subsidiary)	60	10	Operational	2024-12	Lake Mariner (NY) CB1 + CB2 buildings energized through Q1 2026; lease commenced March 2026. Q1 2026 HPC revenue $21M overtook Bitcoin mining revenue for the first time.
Bit Digital (BTBT)	WhiteFiber tenants (multiple)	35	5	Operational	2024-Q4	WhiteFiber Cloud is Bit Digital's GPU rental subsidiary. Mining is being wound down (~1.1 EH/s) as company pivots to ETH treasury plus AI compute.
HIVE Digital (HIVE)	Buzz HPC tenants (multiple)	18	3	Operational	2024-Q4	Buzz HPC subsidiary; GPU rental at Canadian sites. Tier III+ data center growth accelerating into 2026.
IREN (IREN)	Together AI, Fluidstack, Fireworks AI	-	5	Operational	2025	Multi-year tenant agreements anchor IREN AI Cloud product. Q2 FY26 (Dec 31 2025) revenue $184.7M; targeting $3.4B ARR by end of CY 2026 via Microsoft + tenant base.

Updated at 2026-05-31

Public Miner Energy Mix

Disclosed energy source mix per public Bitcoin miner (May 2026), sorted by renewables share. IREN and HIVE lead; TeraWulf is the only nuclear-powered miner.

Updated at May 2026

All-In Cost per BTC by Miner

All-in cash cost to mine 1 BTC by US-listed public miner (Q1 2026), sorted lowest to highest. The reference line at the BTC price shows the margin spread.

BTC reference price$68,000

Updated at Q1 2026

Mining Capacity Build-Out (Current vs YE 2026 Target)

Current self-mining hashrate vs each company's year-end 2026 guidance target, in EH/s. Aggregate public-miner growth implied by guidance is roughly 32% (335 to 442 EH/s).

Updated at Q1 2026

US Mining Geography

US public-miner energized mining capacity (MW) by state. Texas leads at 45% thanks to ERCOT's cheap, flexible market; Georgia and North Dakota are second-tier.

Total US public-miner capacity7,100 MW

Updated at May 2026

Bitcoin ASIC Efficiency Comparison

Current-generation Bitcoin mining ASICs, sorted by efficiency (J/TH, lower is better), with hashrate, power, price, and availability.

Manufacturer	Model	J/TH	TH/s	Watts	$/TH	Availability	Note
Bitdeer	SEALMINER A4 Ultra Hydro	9.4	886	8,373	$35	Sampling	Launched April 7 2026. Industry-leading 9.45 J/TH using SEAL04 chips. A4 Ultra Hydro 886 TH/s; A4 Pro Hydro 680 TH/s at 10.9 J/TH; A4 Pro Air 336 TH/s at 10.9 J/TH.
Bitmain	Antminer S23 Hydro	9.5	580	5,510	$30	Sampling	Bitmain's flagship hydro miner. 9.5 J/TH on 5nm TSMC chips. S23 Hydro 3U variant reaches 1,160 TH/s at 11,020W in single chassis.
Bitmain	Antminer S23 (air)	11.0	318	3,498	$22	Mass prod	Air-cooled S23. 11 J/TH suitable for grid-fed deployments without immersion infrastructure.
Bitmain	Antminer S21 XP Hydro	12.0	473	5,676	$32	Mass prod	Bitmain's prior-gen hydro flagship; immersion-cooled. Released June 17 2024. Widely deployed by public miners. 5nm TSMC node.
MicroBT	WhatsMiner M70S+	12.5	262	3,275	$18	Mass prod	Current MicroBT flagship; 12.5 J/TH air-cooled. Competes directly with S21 XP air models.
Canaan	Avalon A16 XP	12.8	300	3,840	$19	Sampling	Canaan's most efficient air-cooled offering. Shipping March 2026.
MicroBT	WhatsMiner M79S	13.5	930	12,555	$28	Sampling	Next-gen MicroBT hydro flagship. 930 TH/s at 13.5 J/TH; release timing TBD.
Bitdeer	SEALMINER A2 Pro	14.9	255	3,800	$13	Mass prod	Bitdeer's prior-gen ASIC; deployed across BTDR fleet and sold externally.
Canaan	Avalon A1566HA	16.8	480	8,064	$11	Mass prod	Canaan hydro 2U model. Competitive price per TH but efficiency lags Bitmain/Bitdeer top models.
Auradine	Teraflux AT2880	17.3	222	3,850	$22	Mass prod	US challenger. Air-cooled. Operates standard (222 TH/s at 17.3 J/TH) or turbo mode up to 260 TH/s; real-world tested 17.5 J/TH.
Canaan	Avalon A1566	18.5	188	3,478	$14	Mass prod	Canaan air-cooled flagship announced May 2024. 188 TH/s at 3,478W, 18.5 J/TH; also offered in 185 TH/s configuration.
MicroBT	WhatsMiner M66S	18.5	298	5,513	$14	Mass prod	Workhorse MicroBT immersion model; large fleet deployments at mid-cost miners.

Updated at 2026-05-31

Bitcoin ASIC Shipments by Manufacturer (Quarterly)

Quarterly Bitcoin ASIC shipments by manufacturer in EH/s of compute capacity, where private Bitmain and MicroBT dominate and Canaan and Bitdeer are the public peers.

Updated at 2026-05-31

Bitcoin Network Hashrate

Public Miner Hashrate Share

Daily BTC Mined per Public Miner (Monthly)

Per-Miner BTC HODL Trajectory (Quarterly)

Hashprice Over Time

Miner AI/HPC Pivot Tracker

Public Miner Energy Mix

All-In Cost per BTC by Miner

Mining Capacity Build-Out (Current vs YE 2026 Target)

US Mining Geography

Bitcoin ASIC Efficiency Comparison

Bitcoin ASIC Shipments by Manufacturer (Quarterly)

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