金色财经报道，随着公开上市的矿企准备公布第三季度财报，来自 9 月的最新数据显示，比特币挖矿榜单在过去一年中发生了重大重排。曾经由少数几家明确领先者主导的排名，如今显示出新一波中型矿企在经历一年积极扩张后正快速逼近前列。
Cipher Mining、Bitdeer 和 HIVE Digital 已跃升至已实现算力的上游排名，缩小了与长期领先者如 MARA、CleanSpark 及 Bitmain 代理公司 Cango 的差距。它们的上升凸显了中型公开矿企——曾经远远落后——自 2024 年减半以来快速扩大产能的趋势。
2025 年 9 月，公开上市矿企总共实现已实现算力 326 EH/s，高于一年前的 150 EH/s，占比约 31.6%，而去年 9 月为 22%。这表明上市矿企在进入财报季前，不仅快速增长，同时也出现了更深层次的集中化趋势。
MARA、CleanSpark（CLSK）和 Cango（CANG）仍然保持前三大公开矿企的位置，已实现算力分别为 53.3 EH/s、45.6 EH/s 和 44.7 EH/s。但多家中型矿企在 2024 年后迅速缩小差距：IREN 实现 167% 增长，跻身一级行列；Cipher Mining（CIFR）增长 152%，达到 18.2 EH/s；Bitdeer（BTDR）通过新的 SEALMINER 部署增长 267%，达到 32.7 EH/s；HIVE 受益于巴拉圭新的水电矿场，过去一年几乎将算力从 5.3 EH/s 提升至 19.3 EH/s。
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