The largest publicly traded Bitcoin mining companies produced nearly $800 million worth of Bitcoin in the first quarter of 2025, reflecting continued growth across the sector as Bitcoin prices held near record highs.
According to publicly available data compiled by Cointelegraph, the top Bitcoin mining companies produced over 9,700 Bitcoin (BTC) in the first quarter. With Bitcoin trading at around $81,600 at the time of writing, the total production was valued at around $800 million.
Marathon Digital, the biggest Bitcoin mining company by market capitalization, led the pack with 2,285 Bitcoin (worth roughly $186 million) mined in Q1.
On April 3, Marathon announced that it produced 829 BTC in March, up 17.4% from February and 10.5% higher than January.
Related: Bitcoin miner Bitfarms secures up to $300M loan from Macquarie
Bitcoin miners produce 9,746 BTC in Q1 2025
CleanSpark followed with 1,950 BTC mined in Q1, valued near $160 million. CleanSpark’s March performance also saw a 13.4% increase month-on-month.
Iren, formerly Iris Energy, produced the third-highest amount for the quarter. The mining firm reported a total of 1,513 BTC, worth almost $124 million.
Its 533 BTC produced in March was a 16.1% increase from its February performance. CompaniesMarketCap places Iren as the sixth-largest Bitcoin miner by market capitalization.
Riot Blockchain, which ranks second only to Marathon Digital by market capitalization, had the fourth-largest BTC production during the quarter.
The company reported production of 1,428 BTC (about $117 million) during the quarter. Like Iren, Riot produced 533 BTC in March, a 13.4% increase from February.
Top Bitcoin miners by market cap. Source: CompaniesMarketCap
Hut8 shows 91% growth in Bitcoin production
Hut 8 Mining, despite producing the least amount of Bitcoin among the top miners reviewed, showed the highest growth rate. The company mined 199 BTC in Q1 valued at about $16 million, including 88 BTC in March. That represents a 91% increase from the 46 BTC it produced in February.
On March 31, Hut8 partnered with US President Donald Trump’s sons, Donald Trump Jr. and Eric Trump, to launch a new mining venture called American Bitcoin. The project aims to be the “world’s largest, most efficient pure-play Bitcoin miner.”
In a previous Cointelegraph interview, Hut 8 CEO Asher Genoot said the company aims to dominate US Bitcoin mining. Genoot said the company plans to build one of the largest and most efficient Bitcoin mining platforms rooted in American soil.
Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research
