Price performance of Miners does not corelate with capacityIREN LIMITEDBATS:IRENta_quant2025Mining & AI hardware snapshot (latest disclosed) CompanyTickerSelf-mining hash rate (latest)Fleet efficiency (J/TH)Main ASICs in fleet (examples)Cooling / power notesAI/HPC GPUs (if any)How “latest” is the tech? TeraWulfWULF~9.7 EH/s current, 13.1 EH/s pro-forma (early-2025 8-K) TeraWulf Inc. ~18 pro-forma (current ~19–20) TeraWulf Inc. Bitmain S21 Pro/S21, S19 XP/JXP, S19k Pro TeraWulf Inc. Low-cost power; Lake Mariner & Nautilus; expanding into AI hosting TeraWulf AI hosting deals (Fluidstack) backed by Google; GPUs hosted (counts not disclosed) Investors +3 TeraWulf Inc. +3 TeraWulf Inc. +3 New-gen S21 in mix; aggressive pivot to AI BitfarmsBITF17.7 EH/s (Q2’25 end), 19.5 EH/s in Mar’25 ops update Bitfarms Ltd. +1 ~17–19 W/TH reported in 2025 Bitfarms Ltd. +1 Recent Bitmain/MicroBT installs (exact skew not listed publicly)Building U.S. footprint; Panther Creek campus Bitfarms Ltd. Exploring HPC/AI with T5; no public GPU count Bitfarms Ltd. +1 Upgraded efficiency to high-teens J/TH in 2025 IREN (Iris Energy)IREN29.4 EH/s avg in Q3 FY25; company commentary on ramp toward ~50 EH/s in 2025 irisenergy.gcs-web.com +2 irisenergy.gcs-web.com +2 n/a (mix of new gen)Mix of new Bitmain/MicroBT (not fully itemized)Diverse sites; part of capacity repurposed to AI cloud~1,896 NVIDIA H100/H200 GPUs live (IR), with further expansion announced in news flow irisenergy.gcs-web.com +1 One of the few miners with a material H100/H200 fleet Marathon DigitalMARA~59.4 EH/s (Aug’25) Stock Titan Trend toward ~19–20 as S21 Pros/immersion roll in (was 22.7 late-2024) MARA Bitmain S21 Pro (immersion), S21 family (in rollout) MARA +1 Heavy immersion (Wolf Hollow, Kearney OH/TX) MARA No disclosed GPU fleetLeading-edge S21 Pro immersion rollout Riot PlatformsRIOT36.4 EH/s deployed (Aug’25) riotplatforms.com +1 ~21.2 J/TH (Jul’25) riotplatforms.com Bitmain S21/S19 series; MicroBT mix (not fully itemized)Large TX campuses; power credits; 1.0 GW Corsicana data-center platform evolving riotplatforms.com No public GPU count; exploring DC platform use cases The Block Mixed-gen fleet with improving efficiency CleanSparkCLSK50.0 EH/s operational (Aug’25) investors.cleanspark.com +1 ~16.1 peak reported (very efficient) investors.cleanspark.com Heavy Bitmain S21/S21 Pro footprint implied by efficiencyLarge, modern fleet; strong uptime metricsNo public GPU count; focus remains BTC mining cleanspark.com Among the most efficient public fleets BitdeerBTDR22.3 EH/s self-mining (Jul’25); manufactured 27.8 EH/s of rigs by Aug’25 (SEALMINER) ir.bitdeer.com +1 n/a (owns/manufactures SEALMINER)SEALMINER own rigs; plus Bitmain/MicroBT at sitesBhutan/Norway/Texas expansionsRuns GPU cloud (NVIDIA H100/H200, NVL72/GB200 options) — counts not disclosed ir.bitdeer.com +3 bitdeer.com +3 bitdeer.ai +3 Dual track: cutting-edge ASICs and AI cloud Hut 8HUT~9.3 EH/s (Mar’25), efficiency ~20.1 J/TH after upgrades hut8.com +1 ~20.1 J/TH (Mar’25) hut8.com New Bitmain/MicroBT installs (not fully itemized)New Louisiana site; River Bend campus hut8.com Has explored GPU services historically; no current public H100 countMid-cycle upgrades toward S21-class efficiency Canaan (maker)CAN——Avalon A15 series (e.g., A1566 Immersion ~249 TH/s @ ~19 J/TH); A15/A14 families hashrateindex.com +1 Sells air/immersion/hydro boxesn/a