Bitcoin mining has changed its profile, with over 30% in the hands of US-based corporate miners. US-based miners typically own more than 40% of their hashrate, while listed companies are currently in charge of large mining centers.
Bitcoin mining has changed its approach several times, evolving past personal computers into ASICs. Over the past few years, mining has only been able to be performed through large-scale operations, leading to the creation of dedicated data centers.
Matthew Sigel, head of digital assets research at Van Eck, noted that corporate miners controlled more than 30% of hashrate for the first time during certain periods of growth. In total, miners registered on the exchange had 31.8% of the hashrate of the Bitcoin network.
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– Matthew Sigel, recovery CFA (@matthew_sigel) June 17, 2025
The Bitcoin Network generates blocks with a recording hashrate close to 900 EH/s, making peaking difficult. The previous narrative of miners’ surrender did not come true, as large miners can afford to do ridiculous mining.
Long-term corporate miners have a lower cost base and can afford to hold coins in the long term. BTC mining is currently feasible based on prices above $100,000. Miners are also not shy about building new data centers, but are looking for a way to fork into new crypto assets and AI calculations while tapping on the rewards of the remaining BTC blocks.
Generally, BTC mining stocks rise during the preferred market period. |Source: Hashrate Index
A list of 13 BTC corporate miners tracked by Morgan Stanley shows that they have almost doubled their production in the past year. This growth was linked to previous plans to launch new data centers with favorable energy contracts.
Corporate Miners use data centers to create solo blocks or participate in pools. Foundry Digital, the top-based pool in the US, currently has 29.1% of its total hashrate. The pool generates up to 33% of all BTCs per 100 block intervals.
BTC Corporate Minor uses reserves to pivot to AI
For the Indigenous Cryptographers, mining situations are fully normalized and there are no indications of distressed conditions. However, BTC miners do not rely on block rewards in the long term. Transaction fees are produced at less than $500,000 a day, even during busy periods, and may not be sufficient to maintain operations or update mining or data centers.
BTC mining stocks benefit from a general recovery in the crypto market. The BTC Miner Index has risen in the past quarter and bounced back from lows in April and March.
Miners still estimate how to expand their operations, especially halfway through 2024. Top miners such as Mara Holdings, Riot Platform and Iren also use traditional funding to fund the shift to AI calculations.
Bitcoin Miner ($mara $iren $clsk $cifr $riot) is raising large cash through stocks (50-115% of capital) to survive half of 2024 and beyond. After the 2022 debt issue, they have shifted from lending to stock sales, focusing on the $200 billion opportunity, says JPMorgan. Some of them have diversified in ai &…pic.twitter.com/d4yytqymok
– June 13th, 2025, alt’s Wizard (@wizard_of_alt)
Some have tried a strategic approach to building the BTC Treasury without a preset target of BTC per share, like Mara Holdings. Companies will use legacy BTC and some new purchases to raise stock prices and sales to secure funding for the next few years.
Corporate miners are also more efficient and pushing small businesses out of the market. Currently, demand for BTC is far outweighing new production, and miners are saving most of the coins for higher prices in the future.