Bitdeer has overtaken MARA in total computing power. By the end of December 2025, the company's total hash rate reached 71 EH/s.
Source: Bitdeer press release.Of this, 55.2 EH/s is from its own mining, while the rest is allocated for hosting client equipment.
The hash rate of the long-time industry leader MARA stands at 61.7 EH/s.
Source: MARA.However, a direct comparison may be misleading: Bitdeer accounts for total hash rate under management, while MARA considers connected capacity.
Betting on AI and Asset Sales
Bitdeer's growth is attributed to the implementation of its proprietary SEALMINER chips. In December 2025, the company mined 636 BTC, compared to just 145 BTC the previous year.
The firm is actively selling the cryptocurrency it mines. Matthew Sigel, head of research at VanEck, noted that Bitdeer sells all its coins and even part of its reserves to fund its AI initiatives.
$BTDR becomes world's largest Bitcoin miner, leapfrogging $MARA.
— matthew sigel, recovering CFA (@matthew_sigel) January 13, 2026
Bitdeer reported 71 EH/s capacity as of end December (~6% of global hash rate), +18% m/m, +229% y/y.
Like other miners, they are actively selling everything they mine (and more) to fund the AI pivot. pic.twitter.com/FZSieHqyiA
The company combines mining with the development of infrastructure for AI and high-performance computing. Its data centers are located in Canada, Ethiopia, Norway, and the USA.
Diverse Approaches
Competitors employ different capital management strategies:
- MARA follows an accumulation strategy, holding over 55,000 BTC on its balance sheet—the second largest Bitcoin reserve among public companies after Strategy;
- In contrast, Bitdeer maintains minimal digital assets, with reserves of about 2,000 BTC.
At the time of writing, Bitdeer shares rose by 4.07% to $12.77.
Source: Google Finance.MARA shares increased by 2%, reaching $10.93.
Source: Google Finance.As a reminder, on January 8, the mining difficulty of the first cryptocurrency decreased by 1.2% to 146.47 T.