In a historic shift for the cryptocurrency mining industry, Bitdeer Technologies Group (NASDAQ: BTDR) has officially overtaken MARA Holdings (formerly Marathon Digital) as the world's largest Bitcoin miner by managed hashrate. As of January 14, 2026, the Singapore-based tech giant reported a record-breaking Bitdeer 71 EH/s hashrate, signaling a new era in public crypto mining rankings. This milestone, driven by the aggressive deployment of proprietary SEALMINER bitcoin mining chips, has sent ripples through the market, with BTDR stock climbing over 4% to $12.78 following the announcement.

A New King in Crypto Mining: Breaking Down the 71 EH/s Record

The latest operational updates for December 2025 reveal a massive surge in Bitdeer's capacity. The company’s total hashrate under management jumped to 71 exahashes per second (EH/s), a staggering 229% year-over-year increase. This figure propels Bitdeer past MARA Holdings, which reported a capacity of approximately 61.7 EH/s.

The growth engine behind this dominance is Bitdeer’s vertical integration strategy. Unlike competitors solely reliant on third-party hardware, Bitdeer has successfully scaled its self-mining fleet to 55.2 EH/s using its own technology. The results are tangible: the company mined 636 Bitcoin in December 2025 alone, up from just 145 BTC in the same period the previous year. This explosive growth in bitcoin mining capacity validates the company's pivot from a cloud-mining focus to a manufacturing and self-mining powerhouse.

Bitdeer vs MARA: A Clash of Strategies

The battle of Bitdeer vs MARA represents more than just hashrate numbers; it highlights two diverging philosophies in the race for the title of largest bitcoin miner 2026.

Vertical Integration vs. Treasury Accumulation

Bitdeer’s approach is rooted in technological sovereignty. By designing and manufacturing its own rigs, the company controls its supply chain and efficiency metrics. Conversely, MARA has maintained its position as a treasury behemoth. While Bitdeer actively sells mined Bitcoin to fund its AI and infrastructure expansion—holding roughly 2,000 BTC—MARA continues its "HODL" strategy, amassing a treasury of over 55,000 BTC, the second-largest among public companies after MicroStrategy.

Managed vs. Energized Hashrate

Industry analysts note that the comparison requires nuance. Bitdeer’s 71 EH/s includes hosted machines managed for clients, while MARA’s 61.7 EH/s figure is primarily self-mining "energized" hashrate. However, Bitdeer’s rapid deployment of its own fleet (now exceeding 55 EH/s) suggests it is closing the gap on pure self-mining metrics as well, making the "world's largest" title increasingly undisputed across multiple categories.

The SEALMINER Advantage: Efficiency at Scale

Central to this changing of the guard is the success of Bitdeer’s SEALMINER bitcoin mining chips. The newly deployed SEAL04 generation chips have demonstrated exceptional efficiency, clocking in at approximately 6-7 Joules per Terahash (J/TH) under low-voltage conditions. In a market where mining difficulty is at an all-time high, this efficiency advantage is critical.

Compare this to the broader industry average, where many fleets still operate between 15-20 J/TH. Bitdeer’s ability to mine more Bitcoin for every watt of electricity consumed allows it to remain profitable even as halving cycles and network difficulty squeeze margins. This technological edge is a key factor in why analysts are closely watching BTDR stock analysis for 2026.

BTDR Stock Analysis and Market Reaction

Wall Street has reacted positively to the shake-up. following the news, Bitdeer shares (BTDR) rose to $12.78, reflecting investor confidence in its dual-pronged strategy of Bitcoin mining and High-Performance Computing (HPC) for AI. MARA, trading at $10.93, remains a favorite for investors seeking direct exposure to Bitcoin price action due to its massive treasury.

VanEck’s Head of Digital Assets Research, Matthew Sigel, highlighted Bitdeer's unique position, noting that the company is "actively selling everything they mine to fund the AI pivot." This diversification into AI infrastructure—with sites expanding in Ohio, Norway, and Bhutan—provides a hedge against crypto volatility that pure-play miners like MARA lack.

Future Outlook: The 100 EH/s Race

As we move deeper into 2026, the psychological barrier of 100 EH/s is the next frontier. With Bitdeer’s roadmap aggressively targeting new facility energization and further SEALMINER deployments, the company is well-positioned to maintain its lead. For investors and industry watchers, the message is clear: the era of relying solely on treasury holdings is evolving. The future belongs to those who can master the supply chain and energy efficiency—and right now, Bitdeer is holding the crown.