Bitcoin Miner Bitdeer has overtaken MARA in terms of self-mining hashrate among publicly traded companies, establishing itself as the industry leader over the past month, according to analysts at JPMorgan.
BitDeer currently allocates more computational resources to its Bitcoin network than MARA at 63.2 exahash per second (EH/s), according to analysts led by Reginald Smith. MARA last reported a self-mined hash rate of 60.4 EH/s.
The restructuring follows what analysts described as an “impressive” month for Bitdia, in which the Singapore-based company added 8 EH/s. in production update Bitdeer said earlier this month that growth was fueled by the introduction of its proprietary SEALMINER mining rig.
For years, MARA’s relentless fleet expansion has set the pace for the space, but within the past year the company has rebranded as a digital infrastructure company with a focus on AI. For that Transition to running AI workloads For MARA customers.
While MARA has traditionally relied on off-the-shelf hardware from major companies like Bitmain, Bitdeer has taken a different approach in developing ultra-efficient silicon. After its recent introduction, Bitdeer mined 668 Bitcoins in January, an increase of 430% year-over-year.
Earlier this month, Bitdeer said it was exploring data center lease opportunities that could bring AI cloud services online to U.S. customers this year. Still, Matt Conn, the company’s chief business officer, said the company will continue to deploy SEALMINER mining rigs this year.
Bitdeer leans toward self-mining, but hosts Bitcoin miners for its customers while offering subscription plans for mining income. The company recently reported a “total managed hash rate” of 78.1 EH/s and 13.0 EH/s for hosted operations.
MARA no longer reports company-wide Bitcoin production. And given the scale of MARA’s joint venture operations in the Middle East, the company could still be the overall leader in December. energy mug.
As Bitdeer’s self-mining activity accelerated over the past month, so did its sales. According to the company, it held 1,530 Bitcoins at the end of the month, down from 2,017 Bitcoins in December. Bitcoin’s price was hovering around $68,000, and its holdings were worth $104 million.