MARA Holdings says there will soon be a heated race among nations to gather Bitcoin, and the US needs to step up its game.
Hashrate news
Mara Holdings posted a net loss for Q3 and missed analyst revenue estimates despite mining more Bitcoin blocks and boosting its energized hashrate by 17%.
Hut 8 could see its hash rate rise from 5.6 exahashes per second to 24 EH/s by Q2 2025 should it also execute a 15 EH/s purchase option with Bitmain.
Both firms partly attributed the rise in Bitcoin production to increasing their respective energized hash rates in October.
Miners including Cormint and TeraWulf are among the lowest-cost producers of Bitcoin, an important advantage amid tightening margins, CoinShares said.
The growing Bitcoin hashrate and block reward reduction from the Bitcoin halving could lead to miner consolidation among smaller firms.