Top Bitcoin Miners Generate Nearly $800M in Q1 2025

Bitcoin mining giants continued to thrive in early 2025, collectively generating close to $800 million in newly minted BTC as prices remained close to all-time highs.

The sector’s momentum was evident through impressive first-quarter output figures, pointing to growing operational efficiency and bullish market conditions.

Data aggregated from public company reports shows that the top mining firms produced just under 9,750 BTC in the first quarter. With Bitcoin trading around $81,600, this translated to roughly $800 million in revenue.

Marathon Digital, often leading the pack in market valuation, mined the most Bitcoin in the period, adding 2,285 BTC to its reserves—valued near $186 million. The firm revealed a particularly strong performance in March, with 829 BTC produced, marking a 17.4% increase over February.

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CleanSpark came in second with 1,950 BTC mined in Q1, estimated at around $160 million. March proved to be a standout month for the company as well, with output rising 13.4% month-over-month.

Following closely, Iren (formerly known as Iris Energy) secured third place with a total of 1,513 BTC, worth about $124 million. Iren’s March figures reached 533 BTC, reflecting a 16.1% increase compared to February. The company currently ranks sixth in market cap among Bitcoin miners, according to CompaniesMarketCap.

Riot Platforms, another major name in the industry and second only to Marathon by valuation, reported mining 1,428 BTC in Q1—equal to about $117 million. Like Iren, Riot also produced 533 BTC in March, which was a 13.4% jump from the previous month.

Meanwhile, Hut 8 posted the smallest production volume among the group but stood out with its rapid expansion. The company mined 199 BTC in Q1, estimated at $16 million, with 88 BTC produced in March alone. Compared to February’s 46 BTC, this marks a striking 91% growth in output.

Alexander Stefanov