IREN Tops MARA in July Bitcoin Production with Record Realized Hashrate
IREN emerged as the top publicly traded bitcoin mining firm by realized hashrate in July, overtaking MARA (NASDAQ: MARA) in both production and fleet utilization.
The Sydney-headquartered miner produced 728 BTC during the month, outpacing MARA despite MARA’s larger deployed fleet of 58.9 EH/s.
IREN’s output translated to a realized hashrate of 45.50 EH/s, representing 91% of its deployed capacity of 50 EH/s — a higher realization rate that maximizes the utilization of its installed fleet.
By comparison, MARA produced fewer bitcoins with a realized hashrate of 43.94 EH/s, operating at 74.59% of its deployed capacity.
Other miners also expanded output in July as Bitcoin’s monthly average network hashrate climbed above 900 EH/s for the first time, recovering from June’s curtailment.
Cipher Mining’s realized hashrate jumped 26.46% to 13.4 EH/s following the energization of its Black Pearl facility, while Cango (NYSE: CANG) Inc. posted a 36.67% surge to 40.7 EH/s after acquiring 18 EH/s from Bitmain’s financing arm, Antalpha.
The four largest publicly traded Bitcoin miners by realized hashrate — IREN, MARA, CleanSpark (NASDAQ: CLSK), and Cango — captured 19.07% of total Bitcoin block rewards in July, marking their highest combined market share to date, despite three of them operating at less than 90% of deployed capacity.
