Nonce
DashboardRankingsCompareResearchMethodology
DashboardRankingsCompareResearchMethodologyFAQ
ยฉ 2026 Nonce
โ€บ
Dashboardโ€บCash Cost per BTC Ranking
Ranking ยท as of 2026Q2

Cash Cost per BTC Ranking

Public Bitcoin miners ranked by cash cost to produce one BTC. Lower is better.

BTC Production RankingOperational Hashrate RankingBTC Treasury RankingCash Cost per BTC RankingFleet Efficiency Ranking
Total Cash Cost / BTC (2026Q2)
$79K
-78.1% vs prior quarter
Highest miner
CORZ
$79K
Average per miner
$79K
+53.5% vs prior quarter
Companies reporting
1
2026Q2

Top miners by Cash Cost / BTC

LabelValue
CORZ79,343

Cash Cost / BTC quarterly trend (Top 8)

QuarterCORZ
2024Q342351
2024Q451035
2025Q156627
2025Q264369
2025Q379002
2025Q4โ€”
2026Q184253
2026Q279343
#CompanyCash Cost / BTCDirect cash spend per BTC: electricity, hosting, opex.QoQ %Change in production vs the previous quarter.YoY %Change in production vs the same quarter a year ago.BTC ProductionSelf-mined BTC for the quarter; excludes amounts sold.TreasuryQ-end company-held BTC, including lent or pledged amounts still owned.HashrateQuarterly average operating hashrate (EH/s).EfficiencyFleet-weighted average efficiency (J/TH).Source
1Core Scientific(CORZ)$79K-5.8%+23.3%300848โ€”โ€”2026Q23
2American Bitcoin(ABTC)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
3Bitfarms(BITF)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
4Bitdeer Technologies(BTDR)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
5Canaan(CAN)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
6Cango Inc.(CANG)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
7Cipher Mining(CIFR)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
8CleanSpark(CLSK)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
9BitFuFu(FUFU)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
10HIVE Digital Technologies(HIVE)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
11Hut 8(HUT)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
12Iris Energy(IREN)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
13Keel Infrastructure(KEEL)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
14Marathon Digital Holdings(MARA)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
15Riot Platforms(RIOT)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
16Soluna Holdings(SLNH)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”
17TeraWulf(WULF)โ€”โ€”โ€”โ€”โ€”โ€”โ€”โ€”

Lower is better. Data sources: SEC filings, company announcements and investor materials. Snapshot built 2026-08-14.