Mining of cryptocurrencies helps to add crypto to the market, some of the top 15 crypto mining companies who are in the business of mining crypto using algorithms and specific equipment have been provided in this article.
Crypto mining is the process of adding new crytocurrencies to the market and is an important part of keeping blockchain transactions running.
Mining is a difficult and expensive process that involves solving computational mathematical problems with complicated software, algorithms, and equipment in exchange for a block of bitcoins.
Crypto mining is primarily used to verify the authenticity of crypto transactions, promote transparency, and maintain the decentralized blockchain space’s integrity.
In 2026, the worldwide cryptocurrency mining industry is expected to grow to $4502.4 million, up from $4050.5 million in 2020. Over the next five years, the worldwide mining industry is predicted to develop at a CAGR of 2.7 percent.
The growing crypto mining operations may have an impact on the energy industry, particularly in emerging nations, as power capacity is diverted to mining operations According to Fitch Ratings, There are two methods for mining cryptocurrency and these are:
- Private crypto mining
- Crypto mining via the cloud
Private crypto mining
For mining, you’ll need a specific program that can run the hash function. Any PC owner can easily install and set up this program. Although Crypto Mining can still be done at home using your own computer’s CPU, it is no longer recommended for economic reasons.
One reason for this is because there are now “ASIC” (Application Specific Integrated Circuit) chips designed specifically for crypto mining that can mine coins up to one hundred times more efficiently and seven times faster. However, when compared to cloud-based crypto mining, this is not always profitable.
You can rent hash services from a cloud mining firm to avoid the hassle of operating Crypto Mining from your house. Meanwhile, a plethora of service providers exist, some of which run complete mining farms.
Contracts for various cryptocurrencies can be made on the respective provider’s website. Contract expenses are determined by the rented service. As a result, the suppliers are unaffected by the value of the cryptocurrency.
The following are some of the most well-known companies that have assisted with cryptocurrency mining and those that possess mining farms.
List of top 15 crypto mining companies
- Canaan Inc
- HIVE Blockchain Technologies Ltd
- Cleanspark Inc
- Riot Blockchain Inc
- Marathon Digital Holdings Inc
- Bitfarms Ltd
- Hut 8 Mining Corp
- BIT Mining Ltd.
- Argo Blockchain PLC
- Core Scientific, Inc.
- Genesis Digital Assets
- Iris Energy Limited
- Genesis mining
- Stronghold Digital Mining
- Gryphon Digital Mining
Canaan (NASDAQ:CAN) is a bitcoin mining firm situated in Hangzhou, China. It’s a high-performance computing services firm well recognized for inventing the first Bitcoin mining equipment in 2013.
This technology-fueled the development of a computationally powerful Bitcoin mining industry. Canaan specializes in chip design, advanced technology research, and development, including artificial intelligence (AI) chips, AI algorithms, AI architectures, system on a chip (SoC) integration, and chip integration.
It also offers supercomputing to enable more cost-effective hardware to undertake crypto mining activities. It launched and mass-produced its first ASIC Bitcoin miner. Canaan released the world’s first 7nm ASIC chip in 2018, providing cryptocurrency miners with energy-efficient computing equipment.
Canaan delivered the world’s first RISC-V architecture commercial edge AI chip in the same year, demonstrating ASIC technology’s potential in the fields of high-performance computing and artificial intelligence.
HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies (NASDAQ:HIVE) is a cryptocurrency mining firm established in Canada that aims to connect the blockchain industry to traditional financial markets.
HIVE Blockchain Technologies was the first publicly traded cryptocurrency miner, debuting in 2017 on the Toronto Venture Exchange under the ticker symbol HIVE.
It uses data centers in Canada, Sweden, and Iceland to mine digital currencies like Bitcoin, Ethereum, and Ethereum Classic. The company has been committed to an ESG strategy since day one, mining Bitcoin and Ethereum with 100 percent green energy.
CleanSpark, Inc. (NASDAQ:CLSK) is based in Henderson, Nevada and was incorporated in 1987. It is a bitcoin mining and energy technology startup dedicated to addressing modern energy issues.
It mines Bitcoin and offers commercial and residential customers superior energy technology solutions.
CleanSpark, Inc. digital Currency Mining division mines bitcoin through its wholly owned subsidiaries ATL Data Centers LLC and CleanBlok, Inc.
Riot Blockchain Inc.
Riot Blockchain, Inc. (NASDAQ:RIOT) is a cryptocurrency mining company based in North America.
The company is situated in Colorado, and its subsidiary Whinstone hosts mining equipment for institutional clients, while ESS Metron designs and manufactures electrical equipment solutions for Bitcoin mining and other industries. Bitcoin mining, data center hosting, and electrical products, and engineering are the company’s three primary segments.
Marathon Digital Holdings Inc.
Marathon Digital Holdings (NASDAQ:MARA) is a cryptocurrency mining company in the United States that uses digital asset technology.
Its main focus is on blockchain and producing digital assets. Marathon Digital Holdings, Inc. is based in Las Vegas, Nevada, and was founded in 2010.
Late in January, the company announced the appointment of Ashu Swami as chief technology officer (CTO). Swami is a semiconductor designer with extensive knowledge in cryptography and decentralized finance (DeFi). He was most recently the chief product officer at Core Scientific Inc., a blockchain infrastructure business.
Bitfarms Ltd (BITF)
Bitfarms (NASDAQ:BITF) is a cryptocurrency mining and blockchain infrastructure firm established in Canada. It is one of the leading self-mining crypto companies in the United States.
The company generates money by protecting and processing transactions from the crypto networks it supports, such as Bitcoin. On-site technical support, data analytics, and electrical engineering and installation services are all available.
Crypto mining consumes a lot of energy, but Bitfarms uses hydroelectricity to power its “farms,” or mining operations, lowering its carbon footprint.
Small-cap miners like Bitfarms may continue to expand their facilities and computer capacity as the bitcoin market grows. In mid-February, the company announced three new employees to support future growth: Philippe Fortier as vice president of Special Projects, Andrea Keen as vice president of Human Resources, and Stephanie Wargo as vice president of Marketing.
Bitfarms Ltd. announced on April 7, 2022 that it had acquired final permission for a public listing on the Toronto Stock Exchange.
Hut 8 Mining Corp. (HUT)
Hut 8 Mining (NASDAQ:HUT) is a Bitcoin, blockchain, and Web 3.0 digital asset miner situated in Toronto, Canada.
Hut 8 has expertise operating in a variety of crypto market scenarios and has a diverse fleet of mining equipment to respond to varying levels of market volatility.
Hut 8 offers three digital asset data mining facilities and five data centers in Canada, serving 400 enterprise commercial customers from various industries such as visual effects, gaming, and government.
In addition to gas-fueled electricity, Hut 8’s mining centers are environmentally friendly, using wind energy and other green possibilities.
Its mines are located in places where temperatures are below freezing, which are ideal for mining activities. The company’s market capitalization is $921 million, with a share price of around $5.
BIT Mining Ltd. (BTCM)
BIT Mining (NYSE: BTCM) is a prominent technology-driven cryptocurrency mining firm established in Hong Kong with a long-term plan to build wealth in the cryptocurrency market.
Its operations include bitcoin mining, mining pools, and data centers. The Company owns BTC.com, the world’s most popular blockchain browser, as well as the BTC.com mining pool, which offers multi-currency mining services for BTC, ETH, and LTC.
BIT Mining provides low-cost supply and data centers with professional building and operations teams to over 2 million consumers worldwide.
Its goal is to respond swiftly to any mining-related issues. The company operates an Ethereum-focused mining facility in Hong Kong and has spent $23 million on a new data center in Ohio with a storage capacity of 50,000 mining machines. BTCM has a market capitalization of $193 million and a share price of less than $3.
Argo Blockchain PLC (ARBK)
Argo Blockchain is a major crypto mining company based in London, United Kingdom, that focuses on developing mining solutions using renewable resources.
The company’s goal is to build the world’s most environmentally friendly blockchain infrastructure. Argo has over 24,000 mining machines in the United States and Canada, all of which are 100% carbon-neutral.
Argo produces revenue in a variety of ways, including crypto staking, nodes, and decentralized financial protocols. Argo has a market capitalization of $433 million, with shares trading at around $9.
Core Scientific, Inc.
The headquarters of Core Scientific, Inc. (NASDAQ:CORZ) are in Austin, Texas. In North America, the firm specializes in net carbon-neutral blockchain infrastructure and digital asset mining operations.
It validates transactions on certain digital asset network blockchains using powerful cryptographic algorithms. Since 2017, Core Scientific has been operating blockchain infrastructure in North America, utilizing its facilities and intellectual property portfolio, which now includes over 70 patents or applications for digital asset hosted mining and self-mining.
Core Scientific has data centers in Georgia, Kentucky, North Carolina, North Dakota, and Texas, with Oklahoma operations expected to begin in the second half of 2022.
Core Scientific’s Minder fleet management software combines the company’s hosting experience with data analytics to provide optimum uptime, alerting, monitoring, and management of all miners in the network.
Genesis Digital Assets
Genesis Digital Assets, based in the European Union, is one of the world’s largest and most experienced crypto mining companies.
The company’s founders have created over 20 industrial-scale mining farms, connected over 300,000 miners, and mined over $1 billion in Bitcoin since 2013. By 2025, the business hopes to have built the largest and most profitable Bitcoin mining operation in the world.
Iris Energy Limited
Iris Energy Limited (NASDAQ:IREN) is a bitcoin mining data center and electrical infrastructure company situated in Sydney, Australia.
It was founded in 2018. The firm manages data center infrastructure and relies on renewable energy to run its operations. It bought the first site in British Columbia, Canada (“BC”), from PodTech Innovation Inc. and certain of its affiliated parties in January 2020.
This plant is connected to the British Columbia Hydro and Power Authority (“BC Hydro”) electrical transmission network (69 kV grid-connection), which uses 98 percent clean or renewable energy as of 2021.
As of Oct. 1, 2021, the data center location, which has been operational since 2019, has around 30 MW of capacity and 0.7 EH/s of operating hashrate capacity.
Genesis Mining, established in 2013, is a Cryptocurrency cloud mining business that provides a simple and secure way to buy hash power without having to deal with complicated gear and software setup.
Small and large-scale customers can use the company’s hosted bitcoin mining services and a number of mining-related products. It swiftly became an industry leader thanks to the algorithmic trading architecture, mining infrastructure, and proprietary mining farm-management software.
Stronghold Digital Mining
Stronghold Digital Mining, Inc. (NASDAQ:SDIG) is a crypto asset mining firm situated in the United States with a market value of $45.2 million.
Stronghold uses 21st-century crypto mining techniques to mitigate the environmental damage of 19th- and 20th-century coal mining in some of the country’s most neglected areas.
Gryphon Digital Mining
Gryphon Digital Mining, Inc. is a Bitcoin mining company that is now carbon neutral and is working to have a zero-carbon footprint. Gryphon’s long-term goal is to be the world’s leading crypto miner using 100% carbon-free electricity.
It is a cryptocurrency startup dedicated to assisting in the integration of digital assets into the sustainable energy grid. Gryphon Digital is assembling thinking leaders to strengthen digital asset network architecture, with a brilliant leadership team coming from globally recognized organizations.
Its Bitcoin mining business is carbon-neutral, and the company’s long-term goal is to be the first vertically integrated crypto miner with a wholly-owned, 100 percent renewable energy supply.
The mining companies mentioned in this article are only but a few out of the various crypto mining companies in the world at large.
These crypto mining companies are responsible for the cryptocurrencies that flow into the digital assets space and also for the sales and maintenance of mining equipment in general.