Top 10 Bitcoin Miners | December 2024

When addressing the query to list the top 10 Bitcoin miners and the amounts of energy they are respectively producing, it’s important to clarify a key point: Bitcoin miners do not produce energy; they consume it to power their computational hardware for mining operations. The phrasing of the query likely intends to ask for the energy consumption of these miners rather than energy production. With this interpretation, I will provide a list of the top 10 Bitcoin mining companies and estimate their energy consumption based on available data and reasonable assumptions.

### Methodology

To identify the top 10 Bitcoin miners, I rely on recent data indicating their Bitcoin production, as this reflects their mining capacity. Using Bitcoin production figures from December 2024, I estimate each miner’s share of the total network hash rate, since hash rate is directly tied to mining output. The total network hash rate is assumed to be approximately 600 exahashes per second (EH/s), a reasonable estimate for late 2024 based on industry trends. Energy consumption is then calculated by multiplying each miner’s hash rate by an average hardware efficiency of 25 joules per terahash (J/TH), which aligns with modern ASIC miners used by leading companies.

### Top 10 Bitcoin Miners and Their Estimated Energy Consumption

Below is the list of the top 10 Bitcoin mining companies, ranked by their Bitcoin production in December 2024, along with their estimated power consumption in megawatts (MW):

1. **Marathon Digital Holdings (MARA)**  

   - Bitcoin Mined: 907 BTC  

   - Estimated Hash Rate: 40.3 EH/s  

   - Power Consumption: Approximately **1,007.5 MW**  

   - Calculation: 40.3 EH/s × 1,000,000 TH/EH × 25 W/TH = 1,007,500,000 W = 1,007.5 MW  

2. **CleanSpark (CLSK)**  

   - Bitcoin Mined: 622 BTC  

   - Estimated Hash Rate: 27.6 EH/s  

   - Power Consumption: Approximately **690 MW**  

   - Calculation: 27.6 EH/s × 1,000,000 TH/EH × 25 W/TH = 690,000,000 W = 690 MW  

3. **Riot Platforms (RIOT)**  

   - Bitcoin Mined: 495 BTC  

   - Estimated Hash Rate: 22.0 EH/s  

   - Power Consumption: Approximately **550 MW**  

   - Calculation: 22.0 EH/s × 1,000,000 TH/EH × 25 W/TH = 550,000,000 W = 550 MW  

4. **Iris Energy (IREN)**  

   - Bitcoin Mined: 379 BTC  

   - Estimated Hash Rate: 16.8 EH/s  

   - Power Consumption: Approximately **420 MW**  

   - Calculation: 16.8 EH/s × 1,000,000 TH/EH × 25 W/TH = 420,000,000 W = 420 MW  

5. **Core Scientific (CORZ)**  

   - Bitcoin Mined: 314 BTC  

   - Estimated Hash Rate: 13.9 EH/s  

   - Power Consumption: Approximately **347.5 MW**  

   - Calculation: 13.9 EH/s × 1,000,000 TH/EH × 25 W/TH = 347,500,000 W = 347.5 MW  

6. **Bitfarms (BITF)**  

   - Bitcoin Mined: 204 BTC  

   - Estimated Hash Rate: 9.1 EH/s  

   - Power Consumption: Approximately **227.5 MW**  

   - Calculation: 9.1 EH/s × 1,000,000 TH/EH × 25 W/TH = 227,500,000 W = 227.5 MW  

7. **Cipher Mining (CIFR)**  

   - Bitcoin Mined: 189 BTC  

   - Estimated Hash Rate: 8.3 EH/s  

   - Power Consumption: Approximately **207.5 MW**  

   - Calculation: 8.3 EH/s × 1,000,000 TH/EH × 25 W/TH = 207,500,000 W = 207.5 MW  

8. **Bitdeer (BTDR)**  

   - Bitcoin Mined: 150 BTC  

   - Estimated Hash Rate: 6.6 EH/s  

   - Power Consumption: Approximately **165 MW**  

   - Calculation: 6.6 EH/s × 1,000,000 TH/EH × 25 W/TH = 165,000,000 W = 165 MW  

9. **TeraWulf (WULF)**  

   - Bitcoin Mined: 115 BTC  

   - Estimated Hash Rate: 5.1 EH/s  

   - Power Consumption: Approximately **127.5 MW**  

   - Calculation: 5.1 EH/s × 1,000,000 TH/EH × 25 W/TH = 127,500,000 W = 127.5 MW  

10. **Hut 8 Mining Corp. (HUT)**  

    - Bitcoin Mined: 94 BTC  

    - Estimated Hash Rate: 4.2 EH/s  

    - Power Consumption: Approximately **105 MW**  

    - Calculation: 4.2 EH/s × 1,000,000 TH/EH × 25 W/TH = 105,000,000 W = 105 MW  

### Notes and Assumptions

- **Data Source**: Bitcoin production figures are sourced from December 2024 reports, reflecting monthly output post the 2024 Bitcoin halving (block reward: 3.125 BTC).

- **Total Network Estimate**: The network produces approximately 13,500 BTC per month (144 blocks/day × 30 days × 3.125 BTC/block), and the top 10 miners account for 3,469 BTC, or about 25.7% of the total, corresponding to 154.2 EH/s out of an assumed 600 EH/s network hash rate.

- **Efficiency**: The assumed 25 J/TH efficiency is a midpoint for modern mining hardware (e.g., Antminer S19 series ranges from 20-30 J/TH), though actual efficiencies may vary.

- **Units**: Power consumption is presented in megawatts (MW), representing the rate of energy use. If annual energy consumption (e.g., terawatt-hours, TWh) were intended, multiply MW by 8,760 hours/year and convert (e.g., 1,007.5 MW × 8,760 / 1,000,000 ≈ 8.83 TWh/year for MARA).

### Clarification on “Energy Produced”

If the query’s reference to “energy produced” implies a different metric (e.g., hash rate as computational output or energy generated from co-located power facilities), specific data would be required. However, most Bitcoin mining companies consume grid or contracted energy rather than producing it, making consumption the most logical interpretation.

This list provides an informed estimate of the top 10 Bitcoin miners and their respective energy consumption, addressing the query with the corrected context. For precise figures, consult the companies’ official reports, as energy usage can fluctuate with hardware upgrades, operational changes, and energy sourcing strategies.