The total reported hash rate of public Bitcoin mining companies reached 318.09 EH/s at the end of 2024, accounting for over 35% of Bitcoin's total hash rate. This marks a significant increase from 21% in 2023. Companies such as IREN, CLSK, RIOT, and MARA achieved more than 100% year-over-year hash rate growth. Public miners have achieved this growth through upgrading ASIC fleets, expanding data center capacity, and making strategic acquisitions. Some companies are also exploring ways to diversify their revenue streams by entering high-performance computing (HPC) or artificial intelligence (AI) workloads. This shift may lead to some miners scaling back their hash rate while focusing on HPC computing, while others remain committed to expanding their Bitcoin mining operations.



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