Top Bitcoin miners boost July production by 10.9%, led by Marathon Digital

Quick Take

Farside data shows that the top 11 Bitcoin mining companies, ranked by market capitalization, have announced their July miner production, showcasing a monthly increase of 10.9%, totaling 3,217 BTC. Leading the pack is Marathon Digital Holdings (MARA), which mined 692 BTC, followed by CleanSpark (CLSK) with 494 BTC, and Core Scientific (CORZ) with 411 BTC. Riot also made significant strides, producing 370 BTC, marking a notable 45% month-over-month (MoM) increase. Among these top companies, only Core Scientific did not see a MoM increase in production. The combined market cap of these leading mining firms stands at approximately $21 billion.

Of the 11 publicly traded mining companies, MARA holds a 21.5% production share, CLSK holds 15%, CORZ has 13%, and Riot accounts for 12% of the market. With roughly 13,700 BTC mined monthly from issuance, MARA’s production equates to approximately 5% of the total monthly supply.

Looking ahead, the mining landscape is still highly challenging post-halving, with Bitcoin’s price hovering around $56,000 and a hash price of about $40 per PH/s. This environment is likely to pressure weaker miners, who may struggle to remain competitive as mining difficulty is at all-time highs. Difficulty adjustment is scheduled for Aug. 15 and is currently expected to decrease by approximately 4%.

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