Argo

Bitcoin

Hive

Pack

Stellar

The third quarter of 2023 marked a significant surge in realized hashrates among <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/">Bitcoin miners</a>, with numerous companies surpassing the network's average growth rate over the summer months. <a href="https://ultramining.com/news/en/bitdeer-pioneers-crypto-mining-expansion-with-norway-and-bhutan-data-centers/">Bitdeer</a> (BTDR) emerged as the frontrunner, showcasing a stellar realized <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a> growth of 120.14%. Trailing closely were <a href="https://ultramining.com/news/en/cleanspark-doubles-down-on-bitcoin-mining-with-55m-expansion/">CleanSpark</a> (CLSK) and <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/">Marathon</a> Digital (MARA), which reported increases of 42.95% and 38.48%, respectively, according to <a href="https://twitter.com/BlocksBridge_/status/1711409575532879982">BlocksBridge</a>. 
<figure class="wp-block-image">
 <img src="https://lh5.googleusercontent.com/tDKxz9dEZwIMSmuXoMdlnZegFUbMvWz0M5WgYePsAEjsruQDIMDhcSLQYMV5dHDIg6K1b1cmyd8u9smcNdP5yen9C2_Ne0JnQ6LE_q3Ming13nxmnV40Jna6SP2HPNjXAR8BNrP9uc8XeCokHQmDjOw" alt="">
</figure> 
<a href="https://ultramining.com/news/en/cipher-mining-thrives-eyes-increased-market-share/">Cipher</a> Mining (CIIFR) and Bit Digital (BTBT) also stood out with <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a> upticks of 26.14% and 18.93%. Meanwhile, <a href="https://ultramining.com/news/en/bitfarms-set-to-boost-mining-capacity-with-quebec-expansion/">Bitfarms</a> (BITF) and Hive Blockchain (HIVE) displayed modest augmentations, charting 16.53% and 13.58%, respectively. DMG Blockchain (DMG), and <a href="https://ultramining.com/news/en/argo-blockchains-struggles-continue-with-a-17-drop-in-bitcoin-production/">Argo Blockchain</a> (ARBK) marked growth percentages between 10% to 7.5%. 
On the flip side, not every company celebrated growth. Riot Blockchain (RIOT) saw its realized hashrate diminish by 14.10%. <a href="https://ultramining.com/news/en/iris-energy-diversifies-into-ai-with-10-million-nvidia-gpu-purchase-amid-bitcoin-focus/">Iris Energy</a> (IREN) also experienced a minor setback, with a decline of 0.53%. These variations underline the industry's unpredictable dynamics. 
It's crucial to emphasize that the reported growth pertains exclusively to realized hashrates, sidelining other proprietary hashrate activities like power sales and cloud mining. This distinction underscores the substantial advancements solely within primary mining operations.

Bitcoin Miners Achieve Stellar Growth in Realized Hashrate During Q3, Bitdeer Leads the Pack

Ultramining_Eng

Other articles published on Oct 9, 2023

Hedera (HBAR) and Tradecurve Markets (TCRV) Are Leading the Market, THORChain (RUNE) Could Be Next

Gitcoin sends $460K to an unrecoverable address after making a transfer error.

Ocean Protocol Shows Weakness: Can OCEAN Crypto Sink Below $0.25?

Binance Launches Copy Trading to Amplify Futures Trading Engagement

Binance and OKX Adapt to UK’s FCA Regulation; Huobi, KuCoin, and Over 140 Flagged as ‘Non-Authori...

Bitcoin Stuck at $28,000: What’s Next for BTC?

Join our free newsletter for daily crypto updates!