October 2026
Largest Crypto Mining Public Companies in the US
Benchmark revenue and EBITDA valuation multiples for public comps like
Hut 8, TeraWulf, Riot Platforms, Core Scientific and MARA Holdings.
 | 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. | $72 | +42% | $8.8B | $17B | 70.5x | (100.3x) | ||
| TeraWulf Inc develops and operates large-scale digital infrastructure designed for AI and high-performance computing workloads. The Company owns and operates energy infrastructure across key U.S. power markets, providing large-scale, contiguous power capacity for next-generation compute. Its strategic sites offer direct grid connectivity and, in select locations, integrated generation, creating a foundation for scalable compute infrastructure. Built on deep expertise in energy markets and grid integration, TeraWulf approaches compute infrastructure from the foundation up- securing power, developing scalable sites, and operating with disciplined execution. | $13 | -17% | $6.4B | $9B | 53.4x | (18.6x) | ||
| 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. | $14 | -29% | $5.3B | $5.7B | 8.8x | (18.5x) | ||
| Core Scientific Inc is engaged in designing, building, and operating digital infrastructure for high-density colocation services and digital asset mining. The business operates in three operating segments: Digital Asset Self-Mining, consisting of performing digital asset mining for its own account, Digital Asset Hosted Mining, consisting of providing hosting services to third parties for digital asset mining, and Colocation, consisting of providing high-density colocation services to third parties for AI / HPC operations. The majority of revenue is derived from the Digital Asset Self-Mining Segment. | $14 | -33% | $4.6B | $7.1B | 22.3x | (33.7x) | ||
| 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. | $8 | -56% | $3B | $5.2B | 5.7x | (8.5x) | ||
| Ionic Digital Inc intends to be a leading bitcoin mining company, as part of the digital assets ecosystem. | $67 | -- | $3B | $2.8B | 19.6x | (11.2x) | ||
| 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. | $9 | -51% | $2.2B | $3.2B | 4.2x | 4.3x | ||
| 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. | $8 | -62% | $2.2B | $3.6B | 5.9x | 11.0x | ||
| Keel Infrastructure Corp is a North American digital infrastructure and energy company that develops and owns data centers and energy infrastructure for high-performance computing workloads, including AI. The group has a pipeline of 2.2 gigawatts and established grid interconnections already in place. It delivers scalable infrastructure solutions in high-demand power markets across Pennsylvania and Washington in the United States, and Quebec in Canada. It has data campuses in Moses Lake, Panther Creek, Sharon, Sherbrooke, and Scrubgrass. | $2 | -40% | $1.5B | $1.8B | 7.9x | (22.7x) | ||
| 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 | -- | $715M | $1B | 0.1x | (115.9x) | ||
| 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. | $9 | -88% | $628M | $815M | 4.4x | (7.2x) | ||
| HIVE Digital Technologies Ltd is a sustainable-energy-focused digital infrastructure company that provides infrastructure solutions through the operation of Tier-1 and Tier-3 data centers. Its computing power is used for high-performance computing (HPC) and for generating hashrate sold to mining pools for cryptocurrency mining. The Company uses cash flow from its hashrate services business to support the expansion of its AI and HPC operations through its subsidiary. The Company focuses on Canada, Sweden, and Paraguay, where low-cost renewable power supports its operations and expansion. It operates in one segment with two revenue streams: the mining and sale of digital currencies and high-performance computing hosting. The majority of its revenue is generated from Bermuda. | $2 | -60% | $560M | $718M | 2.4x | 26.4x | ||
| 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. | $1 | -74% | $340M | $855M | 7.5x | (18.2x) | ||
| 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. | $1 | -84% | $137M | $118M | 4.0x | (3.1x) | ||
| 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. | $1 | -30% | $46M | $82M | 1.4x | 4.0x | ||
| 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. | $0 | -98% | $815K | $9M | ||||
| 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. | $0 | -94% | $599K | $719K | ||||
| Median | $8 | -56% | $1.5B | $1.8B | 5.8x | (8.5x) |
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