Bitcoin Miners Face New Hash Wars After 2024 Halving

The Bitcoin mining industry is becoming increasingly competitive, with so-called tier-2 operators closing the gap on established leaders in realized hashrate — a sign of a more level playing field following the 2024 halving.

According to The Miner Mag, companies such as Cipher Mining, Bitdeer and HIVE Digital have rapidly expanded their realized hashrate after several years of infrastructure growth, narrowing the distance to top players like MARA Holdings, CleanSpark and Cango.

“Their ascent highlights how the middle tier of public miners — once…