Top Cryptocurrency-Mining Stocks in 2023

The global cryptocurrency-mining market is poised to soar to US$7 billion by 2032, making it an attractive sector for investors seeking exposure to digital assets. Amidst the volatility inherent in the cryptocurrency market, analysts foresee potential rewards for investors, especially as Bitcoin and other digital currencies gain traction. Here’s a rundown of the top publicly traded cryptocurrency-mining in 2023:


Owning market capitalization of up to C$316.122 million, Bitfarms, a prominent cryptocurrency-mining operator in North America, utilizes hydropower-driven facilities in Quebec. Having mined over 20,000 Bitcoin since its establishment, Bitfarms saw a 17% year-over-year surge in Bitcoin production in March 2023. Investors looking into the cryptocurrency mining sector can consider these companies for potential investment opportunities amid the changing digital asset landscape.

Cipher Mining

Having a market capitalization of US$517.143 million, Cipher Mining provides Bitcoin mining services worldwide via its large-scale data centers. As of early April 2023, the company boasts a self-mining capacity of 5.7 exahashes per second, leading to the production of approximately 413 Bitcoins in March.

Hive Blockchain Technologies

HIVE runs mining facilities in Scandinavia, focusing on digital assets such as Ethereum and Bitcoin. It currently has a market capitalization of C$362.827 million.  In Q4 2022, it reported revenue of US$14.3 million, marked by a significant uptick in Bitcoin mining output and operational hash rate.

Hut 8 Mining

Hut 8 Mining, generating a market capitalization of C$508.372 million, focuses on Bitcoin and Ethereum mining, operating with over 121 megawatts of power capacity and several data-mining facilities. By the end of 2022, the company held 9,086 Bitcoin in revenue stock and reported substantial growth in mining output.

Marathon Digital Holdings

Marathon Digital Holdings has a market capitalization of US$1.487 billion. It specializes in developing North America’s largest and most efficient cryptocurrency mining infrastructure. During the first quarter of 2023, the company achieved a significant milestone by generating a record-breaking 2,195 Bitcoin, supported by a robust hash rate of 11.5 exahashes per second.

Riot Blockchain

With a market capitalization of US$1.735 billion, Riot Blockchain, a Bitcoin mining company, manages subsidiaries involved in diverse cryptocurrency mining activities. Through its self-mining endeavors, the company amassed around 7,072 Bitcoin by March 2023.

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