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June 2026
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Largest Crypto Mining Public Companies
Benchmark revenue and EBITDA valuation multiples for public comps like
IREN, Hut 8, TeraWulf, Cipher Digital and Riot Platforms.
 | IREN Ltd is engaged in data center business powering the future of Bitcoin, AI and beyond utilizing renewable energy. Bitcoin mining operations generate revenue by earning Bitcoin through a combination of Block rewards and transaction fees from the operation of its Bitcoin miners and exchanging these Bitcoin for fiat currencies such as USD or CAD. | $62 | +325% | $22B | $24B | 47.6x | 83.5x | ||
 | Hut 8 Corp is an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases. The company has four reportable business segments: Power, Digital Infrastructure, Compute, and Other. It derives maximum revenue from the Compute segment which consists of Bitcoin Mining, GPU-as-a-Service, and Data Center Cloud operations. Its geographical segments include the United States and Canada, of which it generates the majority of revenue from the United States. | $128 | +587% | $14B | $15B | 62.3x | (108.3x) | ||
| TeraWulf Inc is a digital asset technology company that is engaged in digital infrastructure and sustainable energy development. It is involved in supporting environmentally conscious bitcoin mining operations by developing and operating facilities within the United States. The company's bitcoin mining facilities are powered by clean, affordable, and reliable energy sources. Its primary source of revenue stems from the mining of bitcoin conducted at the company's mining facility sites. Additionally, the company occasionally generates revenue through the provision of miner hosting services to third-party entities. | $26 | +498% | $13B | $16B | 93.0x | (912.2x) | ||
| Cipher Digital Inc is focused on high-performance computing (HPC) data center development and operations. It is engaged in developing and operating data centers designed for HPC workloads. Its operations include managing power assets and capital allocation in response to market conditions and demand for AI-related computing capacity. | $26 | +435% | $10B | $14B | 64.7x | (253.5x) | ||
| Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. The company's segments include Bitcoin Mining and Engineering. The Bitcoin Mining segment generates revenue from the Bitcoin the Company earns through its Bitcoin Mining activities. The Engineering segment generates revenue through customer contracts for custom engineered electrical products. It generates the majority of its revenue from the Bitcoin Mining segment. | $27 | +143% | $10B | $11B | 17.1x | 97.4x | ||
| Core Scientific Inc is engaged in designing, building and operating digital infrastructure for high-performance computing. The business operates in three operating segments; Digital Asset Self-Mining, consisting of performing digital asset mining for the own account, Digital Asset Hosted Mining, consisting of providing hosting services to third parties for digital asset mining, and HPC Hosting, consisting of providing hosting services to third parties for graphics processing unit (GPU) based HPC hosting operations. The majority of revenue is derived from the Digital Asset Self-Mining Segment. | $28 | +64% | $9B | $10B | 31.1x | (399.2x) | ||
| MARA Holdings Inc leverages digital asset compute to support the energy transformation. It secures the blockchain ledger and supports the energy transformation by converting clean, stranded, or underutilized energy into economic value. The company also offers technology solutions to optimize data center operations, including next-generation liquid immersion cooling and firmware for bitcoin miners. It is focused on computing for, acquiring, and holding digital assets as a long-term investment. | $14 | -11% | $5B | $7B | 8.0x | (15.8x) | ||
| Bitdeer Technologies Group is principally engaged in provision of digital asset mining services. The Company does not conduct any substantive operations on its own but conducts its primary operations through its subsidiaries. Its majority business segments are: proprietary mining, cloud hash rate sharing and cloud hosting. The company operates five proprietary mining datacenters in the United States and Norway, Bhutan and Singapore. | $20 | +71% | $5B | $7B | 10.5x | 19.3x | ||
| Cleanspark Inc. is a data center developer that, until recently, focused exclusively on bitcoin mining. The company provides scalable, energy-efficient digital infrastructure across the United States. The Company has a sole reporting segment, which is the bitcoin mining segment. | $17 | +52% | $4B | $5B | 6.7x | 6.8x | ||
 | Bitfarms Ltd engaged in the cryptocurrency Mining industry mainly consists of selling its computational power used for hashing calculations for cryptocurrency mining in multiple jurisdictions. Its geographic operations are currently located in Canada, the United States, Argentina. It owns and operates server farms comprised of computers designed to validate transactions on the Bitcoin Blockchain. | $3 | +247% | $2B | $2B | - | - | ||
| HIVE Digital Technologies Ltd is in the business of providing infrastructure solutions in the blockchain industry. It focuses on the mining and sale of digital currencies. Its geographical segments include Canada, Sweden, Iceland, Switzerland, and Bermuda, out of which the majority of the revenue comes from Bermuda. | $4 | +144% | $1B | $1B | 4.1x | 16.5x | ||
 | Phoenix Group PLC is a technology conglomerate bringing blockchain solutions to an expansive market. The Group develops, operates, and manages specialized data centres, hosting class performance computing power for digital assets across the UAE, Oman, the U.S., and Canada. Additionally, it also hosts, operates, and maintains equipment within its existing data centres and enables investment opportunities within cloud mining. The Group is the exclusive distributor of equipment manufacturer MicroBT and a prominent distributor of Digital wallet Ledgers and CoolWallets across the Middle East. The Group has four business verticals: Mining, Hosting, Trading, and Investment. The company operates within and outside of the UAE. | $0 | -56% | $1B | $1B | 10.0x | (5.1x) | ||
 | Northern Data AG is a Business-to-Business technology company developing, using, and selling solutions on vertically integrated computing infrastructure. Its segment includes Peak Mining; Taiga Cloud and Ardent Data Centers. Geographically, it operates in Europe (excluding Germany), North America, and Germany. The company derives maximum revenue from Europe. | $17 | -39% | $1B | $2B | 20.3x | (55.8x) | ||
| American Bitcoin Corp is a Bitcoin accumulation platform focused on building America's Bitcoin infrastructure platform. The Company delivers institutional-grade exposure to Bitcoin through an industry-first business model that integrates scaled self-mining operations with disciplined accumulation strategies. | $1 | -- | $978M | $1B | 6.3x | (10.4x) | ||
 | Jasmine Technology Solution PCL is a Thailand-based company, principally engaged in the design and installation of telecommunication systems, telecom services, Bitcoin Mining, and others. The company leases optic cable networks and provides satellite telecommunications, internet, and satellite-based mobile communication services. It also designs, supplies and installs computer networks including peripheral equipment. The operating segments of the organization are the Telecommunication services segment, Bitcoin mining segment and the Design and installation of telecommunication systems. It also provides Infrastructure-as-a-service and Software-as-a-service. | $1 | +11% | $813M | $833M | 11.3x | 45.2x | ||
| Bit Digital Inc is engaged in the Bitcoin mining business, Ethereum staking activities and specialized cloud-infrastructure services for artificial intelligence applications through its wholly owned subsidiaries. Its mining platform operates with the primary intent of accumulating bitcoin which may sell for fiat currency from time to time depending on market conditions. The Company has four reportable segments: digital asset mining, cloud services, colocation services, and ETH Staking. It generates majority of its revenue from digital asset mining. | $2 | -15% | $648M | $937M | 8.2x | (55.7x) | ||
| BitGo Holdings Inc provides various offerings to its clients including multi-signature blockchain wallet solutions allowing for secure storage, trade settlement, staking solutions, and lending of digital assets. The Company also provides professional services to develop smart contracts. Its clients range from crypto-native companies that use its self-custody wallet technology to traditional financial services firms that leverage its licensed custody, staking and trading capabilities within their own products and services. | $6 | -- | $640M | $957M | 0.1x | 29.6x | ||
 | BitFuFu Inc is a digital asset mining and cloud-mining service provider that fosters a secure, compliant, and transparent blockchain infrastructure. It provides stable and intelligent digital asset mining solutions, including one-stop cloud-mining services and miner hosting services to institutional customers and individual digital assets. The company generates the majority of its revenue from the sale of cloud-mining solutions, followed by Self-mining revenue. Geographically, the company generates revenue from North America, Asia, Europe, and Others. | $2 | -41% | $320M | $298M | 0.6x | 35.8x | ||
| Soluna Holdings Inc is a U.S.-based company that conducts operations through its subsidiary. The group is engaged in the mining of cryptocurrency through data centers that can be powered by renewable energy sources. The data centers buy every excess megawatt to use for batch-oriented, computing-intensive processes such as cryptocurrency mining or machine learning which is a low-risk and low-friction solution to use as a smartphone. | $2 | +172% | $237M | $196M | 6.6x | (5.2x) | ||
 | The9 Ltd operates a cryptocurrency mining business. It provides computing power, or hash rate, to a Bitcoin mining pool and is entitled to receive a fractional share of Bitcoin award from the Bitcoin mining pool in return. The company generates its revenues from customers in Greater China, Asia/Eastern Europe, and North America. Its segments are: Crypto mining business, and Other, out of which Crypto mining business derives maximum revenue. | $5 | -39% | $72M | $98M | 6.2x | (1.8x) | ||
| Greenidge Generation Holdings Inc owns and operates a vertically integrated cryptocurrency data center. Company operates in three segments: Crypto Mining, Datacenter Hosting, Power and Capacity. The company owns and operates facilities at two locations: the Torrey, New York, and Spartanburg, South Carolina. The cryptocurrency data center operations generate revenue in the form of bitcoin by earning bitcoin as rewards and transaction fees for supporting the bitcoin network with application-specific integrated circuit computers (ASICs or miners) owned or leased by the company. | $2 | +29% | $28M | $63M | 1.1x | 3.1x | ||
| Dynastar Holdings Inc is a blockchain technology company. It is engaged in the operation of cryptocurrencies, especially Ethereum mining. The company actively expands blockchain financial services, is committed to launching a professional, convenient and renowned digital asset financial service platform, and improving the resource allocation of digital assets such as Bitcoin and the layout of the blockchain industry chain. | $0 | +40% | $19M | $19M | - | - | ||
| SOLAI Ltd is a technology-driven cryptocurrency infrastructure company. It is expanding from its foundation in crypto mining to build a blockchain-based ecosystem spanning AI, stablecoins, and payment infrastructure, and Solana treasury and staking operations supporting use cases across institutional settlement, commerce, consumer payments, and AI-native agent transactions. The group is leveraging its blockchain and data infrastructure expertise, aiming to enhance on-chain efficiency and expand participation across Solana and other blockchain ecosystems. | $1 | -- | $18M | $18M | 0.8x | (4.0x) | ||
| Ebang International Holdings Inc is a blockchain technology and Fintech company, that has ASIC chip design capability. Its business is ASIC chip design and Telecommunication. It operates in a single segment selling bitcoin mining machines and related accessories, telecommunication products, providing cryptocurrency exchange services, management and maintenance services, and cross-border payment and foreign exchange services and rental services. Its geographic regions are Mainland China, and Australia. | $2 | -37% | $13M | ($189M) | (28.9x) | 9.3x | ||
| BTC Digital Ltd is a crypto asset technology company based in the U.S. with a focus on bitcoin mining. The company also generates revenue through mining machine resale and rental business operations. Geographically, the financial assets of the company is located in the United States, Singapore, Hong Kong and the PRC. | $1 | -59% | $10M | $13M | 0.9x | (2.6x) | ||
| Bit Origin Ltd is seeking opportunities in deploying new technologies, crypto asset mining and blockchain technologies in Singapore. The company has focused on building the Bitcoin mining ecosystem through incubations, strategic investments, and acquisitions. It derives all of its revenue from Bitcoin mining. | $2 | -81% | $3M | $9M | 218.1x | (2.2x) | ||
| Median | $4 | +40% | $1B | $1B | 8.1x | (2.4x) |
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