Overview
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Miner index against bitcoin
Equal-weight index of the miners, one year, both rebased to 100. As of Oct 21, 2026.
Miners, equal weight
Bitcoin, 16:00 ET75.5-24.5%
Method and sources
The equal-weight miner index fell to 54.1 in a year. Bitcoin fell to 75.5.
- Covers
- 252 sessions from Oct 21, 2025, rebased to 100
- Unit
- index, the first session = 100
Source: Daily closing prices
| Session | Miners (index, the first session = 100) | Bitcoin (index, the first session = 100) |
|---|---|---|
| Oct 21, 2025 | 100.0 | 100.0 |
| Oct 22, 2025 | 91.8 | 96.4 |
| Oct 23, 2025 | 94.5 | 98.6 |
| Oct 24, 2025 | 102.7 | 98.9 |
| Oct 27, 2025 | 105.2 | 102.7 |
| Oct 28, 2025 | 102.8 | 101.6 |
| Oct 29, 2025 | 99.8 | 99.0 |
| Oct 30, 2025 | 96.4 | 95.2 |
| Oct 31, 2025 | 98.2 | 98.2 |
| Nov 3, 2025 | 101.7 | 95.3 |
| Nov 4, 2025 | 94.7 | 90.0 |
| Nov 5, 2025 | 97.9 | 92.9 |
| Nov 6, 2025 | 89.7 | 90.2 |
| Nov 7, 2025 | 89.5 | 92.8 |
| Nov 10, 2025 | 88.5 | 94.8 |
| Nov 11, 2025 | 80.7 | 91.9 |
| Nov 12, 2025 | 77.2 | 90.8 |
| Nov 13, 2025 | 68.1 | 87.7 |
| Nov 14, 2025 | 64.9 | 84.3 |
| Nov 17, 2025 | 64.2 | 82.2 |
| Nov 18, 2025 | 66.7 | 83.0 |
| Nov 19, 2025 | 62.5 | 80.0 |
| Nov 20, 2025 | 60.3 | 77.2 |
| Nov 21, 2025 | 59.5 | 75.5 |
| Nov 24, 2025 | 67.0 | 79.7 |
| Nov 25, 2025 | 67.7 | 78.1 |
| Nov 26, 2025 | 71.3 | 80.4 |
| Nov 28, 2025 | 74.3 | 81.6 |
| Dec 1, 2025 | 71.0 | 76.4 |
| Dec 2, 2025 | 67.8 | 81.5 |
| Dec 3, 2025 | 69.9 | 83.1 |
| Dec 4, 2025 | 72.1 | 82.7 |
| Dec 5, 2025 | 69.2 | 79.9 |
| Dec 8, 2025 | 70.1 | 81.2 |
| Dec 9, 2025 | 72.6 | 83.2 |
| Dec 10, 2025 | 71.4 | 82.7 |
| Dec 11, 2025 | 71.7 | 82.1 |
| Dec 12, 2025 | 65.0 | 80.7 |
| Dec 15, 2025 | 57.5 | 76.7 |
| Dec 16, 2025 | 58.0 | 78.3 |
| Dec 17, 2025 | 55.4 | 76.8 |
| Dec 18, 2025 | 55.9 | 76.1 |
| Dec 19, 2025 | 60.8 | 78.6 |
| Dec 22, 2025 | 62.1 | 79.0 |
| Dec 23, 2025 | 60.8 | 78.4 |
| Dec 24, 2025 | 60.9 | 78.3 |
| Dec 26, 2025 | 58.5 | 78.3 |
| Dec 29, 2025 | 57.7 | 77.9 |
| Dec 30, 2025 | 55.9 | 78.5 |
| Dec 31, 2025 | 55.4 | 78.3 |
| Jan 2, 2026 | 60.9 | 80.2 |
| Jan 5, 2026 | 65.8 | 84.2 |
| Jan 6, 2026 | 64.8 | 82.7 |
| Jan 7, 2026 | 63.1 | 81.4 |
| Jan 8, 2026 | 64.3 | 81.2 |
| Jan 9, 2026 | 64.6 | 80.6 |
| Jan 12, 2026 | 67.5 | 81.7 |
| Jan 13, 2026 | 69.9 | 84.4 |
| Jan 14, 2026 | 70.5 | 87.3 |
| Jan 15, 2026 | 68.5 | 85.1 |
| Jan 16, 2026 | 71.7 | 85.4 |
| Jan 20, 2026 | 67.9 | 80.1 |
| Jan 21, 2026 | 67.1 | 80.6 |
| Jan 22, 2026 | 65.7 | 80.0 |
| Jan 23, 2026 | 68.0 | 79.9 |
| Jan 26, 2026 | 65.0 | 78.3 |
| Jan 27, 2026 | 69.4 | 79.8 |
| Jan 28, 2026 | 69.6 | 79.6 |
| Jan 29, 2026 | 66.2 | 75.2 |
| Jan 30, 2026 | 62.2 | 75.0 |
| Feb 2, 2026 | 61.0 | 69.7 |
| Feb 3, 2026 | 62.0 | 68.3 |
| Feb 4, 2026 | 56.6 | 65.6 |
| Feb 5, 2026 | 48.8 | 56.9 |
| Feb 6, 2026 | 56.6 | 62.6 |
| Feb 9, 2026 | 60.4 | 63.3 |
| Feb 10, 2026 | 59.0 | 61.5 |
| Feb 11, 2026 | 57.1 | 60.4 |
| Feb 12, 2026 | 55.0 | 58.4 |
| Feb 13, 2026 | 57.3 | 61.5 |
| Feb 17, 2026 | 55.5 | 60.6 |
| Feb 18, 2026 | 55.7 | 59.2 |
| Feb 19, 2026 | 56.5 | 60.0 |
| Feb 20, 2026 | 55.2 | 60.6 |
| Feb 23, 2026 | 55.8 | 57.6 |
| Feb 24, 2026 | 59.6 | 57.6 |
| Feb 25, 2026 | 60.3 | 61.9 |
| Feb 26, 2026 | 60.0 | 60.2 |
| Feb 27, 2026 | 57.1 | 58.7 |
| Mar 2, 2026 | 57.6 | 61.9 |
| Mar 3, 2026 | 54.1 | 61.0 |
| Mar 4, 2026 | 58.5 | 65.4 |
| Mar 5, 2026 | 56.1 | 63.7 |
| Mar 6, 2026 | 52.9 | 60.9 |
| Mar 9, 2026 | 54.7 | 61.7 |
| Mar 10, 2026 | 54.2 | 62.6 |
| Mar 11, 2026 | 56.1 | 63.2 |
| Mar 12, 2026 | 54.7 | 63.0 |
| Mar 13, 2026 | 54.2 | 63.6 |
| Mar 16, 2026 | 57.0 | 66.1 |
| Mar 17, 2026 | 56.9 | 66.6 |
| Mar 18, 2026 | 55.5 | 63.5 |
| Mar 19, 2026 | 55.5 | 62.8 |
| Mar 20, 2026 | 53.1 | 62.7 |
| Mar 23, 2026 | 56.0 | 63.2 |
| Mar 24, 2026 | 55.1 | 62.0 |
| Mar 25, 2026 | 57.1 | 63.4 |
| Mar 26, 2026 | 52.9 | 61.3 |
| Mar 27, 2026 | 49.9 | 59.0 |
| Mar 30, 2026 | 46.4 | 59.4 |
| Mar 31, 2026 | 49.3 | 60.6 |
| Apr 1, 2026 | 49.8 | 60.9 |
| Apr 2, 2026 | 50.8 | 59.9 |
| Apr 6, 2026 | 52.4 | 62.4 |
| Apr 7, 2026 | 53.4 | 61.7 |
| Apr 8, 2026 | 58.1 | 63.8 |
| Apr 9, 2026 | 59.5 | 64.5 |
| Apr 10, 2026 | 60.4 | 65.5 |
| Apr 13, 2026 | 63.7 | 65.6 |
| Apr 14, 2026 | 67.4 | 66.5 |
| Apr 15, 2026 | 67.4 | 67.1 |
| Apr 16, 2026 | 66.6 | 67.4 |
| Apr 17, 2026 | 70.7 | 69.3 |
| Apr 20, 2026 | 71.9 | 68.2 |
| Apr 21, 2026 | 69.2 | 67.1 |
| Apr 22, 2026 | 72.7 | 70.6 |
| Apr 23, 2026 | 71.8 | 69.5 |
| Apr 24, 2026 | 71.6 | 69.4 |
| Apr 27, 2026 | 70.7 | 68.7 |
| Apr 28, 2026 | 67.0 | 68.3 |
| Apr 29, 2026 | 65.1 | 67.5 |
| Apr 30, 2026 | 69.5 | 68.3 |
| May 1, 2026 | 70.6 | 70.1 |
| May 4, 2026 | 72.8 | 71.6 |
| May 5, 2026 | 79.0 | 73.0 |
| May 6, 2026 | 90.0 | 72.8 |
| May 7, 2026 | 86.2 | 71.7 |
| May 8, 2026 | 86.4 | 71.6 |
| May 11, 2026 | 89.3 | 73.3 |
| May 12, 2026 | 89.3 | 72.3 |
| May 13, 2026 | 90.9 | 71.2 |
| May 14, 2026 | 92.8 | 72.9 |
| May 15, 2026 | 87.9 | 70.7 |
| May 18, 2026 | 85.2 | 68.7 |
| May 19, 2026 | 84.7 | 68.6 |
| May 20, 2026 | 87.1 | 69.4 |
| May 21, 2026 | 92.3 | 69.4 |
| May 22, 2026 | 93.4 | 67.8 |
| May 26, 2026 | 98.3 | 67.9 |
| May 27, 2026 | 102.9 | 67.0 |
| May 28, 2026 | 104.5 | 65.6 |
| May 29, 2026 | 103.2 | 65.7 |
| Jun 1, 2026 | 110.5 | 63.9 |
| Jun 2, 2026 | 110.4 | 60.1 |
| Jun 3, 2026 | 110.3 | 58.4 |
| Jun 4, 2026 | 107.8 | 56.8 |
| Jun 5, 2026 | 95.4 | 53.9 |
| Jun 8, 2026 | 101.7 | 56.7 |
| Jun 9, 2026 | 97.7 | 55.5 |
| Jun 10, 2026 | 92.5 | 55.3 |
| Jun 11, 2026 | 99.7 | 56.9 |
| Jun 12, 2026 | 101.2 | 56.8 |
| Jun 15, 2026 | 106.1 | 59.5 |
| Jun 16, 2026 | 106.6 | 58.6 |
| Jun 17, 2026 | 106.7 | 57.4 |
| Jun 18, 2026 | 110.9 | 56.2 |
| Jun 22, 2026 | 112.2 | 57.6 |
| Jun 23, 2026 | 110.3 | 55.7 |
| Jun 24, 2026 | 104.1 | 53.5 |
| Jun 25, 2026 | 101.8 | 53.0 |
| Jun 26, 2026 | 103.8 | 53.4 |
| Jun 29, 2026 | 99.9 | 54.0 |
| Jun 30, 2026 | 98.5 | 52.5 |
| Jul 1, 2026 | 92.0 | 53.6 |
| Jul 2, 2026 | 84.2 | 54.9 |
| Jul 6, 2026 | 89.3 | 57.0 |
| Jul 7, 2026 | 83.7 | 57.0 |
| Jul 8, 2026 | 87.5 | 55.6 |
| Jul 9, 2026 | 90.2 | 56.5 |
| Jul 10, 2026 | 87.0 | 57.1 |
| Jul 13, 2026 | 82.9 | 55.6 |
| Jul 14, 2026 | 82.5 | 57.7 |
| Jul 15, 2026 | 82.7 | 58.1 |
| Jul 16, 2026 | 74.9 | 57.4 |
| Jul 17, 2026 | 74.5 | 57.3 |
| Jul 20, 2026 | 81.5 | 58.2 |
| Jul 21, 2026 | 88.6 | 59.4 |
| Jul 22, 2026 | 89.4 | 58.9 |
| Jul 23, 2026 | 90.9 | 57.9 |
| Jul 24, 2026 | 84.0 | 57.4 |
| Jul 27, 2026 | 80.6 | 58.1 |
| Jul 28, 2026 | 77.4 | 57.1 |
| Jul 29, 2026 | 68.4 | 56.8 |
| Jul 30, 2026 | 81.9 | 57.9 |
| Jul 31, 2026 | 79.4 | 56.2 |
| Aug 3, 2026 | 84.0 | 57.1 |
| Aug 4, 2026 | 81.5 | 57.4 |
| Aug 5, 2026 | 78.0 | 57.9 |
| Aug 6, 2026 | 75.8 | 57.6 |
| Aug 7, 2026 | 75.1 | 58.0 |
| Aug 10, 2026 | 70.0 | 57.2 |
| Aug 11, 2026 | 71.8 | 56.8 |
| Aug 12, 2026 | 75.0 | 56.6 |
| Aug 13, 2026 | 72.7 | 56.6 |
| Aug 14, 2026 | 74.2 | 56.2 |
| Aug 17, 2026 | 76.5 | 57.5 |
| Aug 18, 2026 | 70.0 | 57.8 |
| Aug 19, 2026 | 71.3 | 61.2 |
| Aug 20, 2026 | 75.5 | 65.0 |
| Aug 21, 2026 | 73.6 | 68.9 |
| Aug 24, 2026 | 71.9 | 70.4 |
| Aug 25, 2026 | 76.0 | 70.6 |
| Aug 26, 2026 | 74.1 | 70.2 |
| Aug 27, 2026 | 76.0 | 71.5 |
| Aug 28, 2026 | 69.7 | 69.3 |
| Aug 31, 2026 | 69.5 | 70.6 |
| Sep 1, 2026 | 67.0 | 69.1 |
| Sep 2, 2026 | 69.3 | 69.1 |
| Sep 3, 2026 | 75.8 | 73.1 |
| Sep 4, 2026 | 77.8 | 71.4 |
| Sep 8, 2026 | 81.2 | 70.1 |
| Sep 9, 2026 | 78.7 | 69.9 |
| Sep 10, 2026 | 75.3 | 69.0 |
| Sep 11, 2026 | 78.3 | 69.1 |
| Sep 14, 2026 | 75.2 | 70.6 |
| Sep 15, 2026 | 72.0 | 68.1 |
| Sep 16, 2026 | 73.9 | 68.0 |
| Sep 17, 2026 | 76.6 | 68.4 |
| Sep 18, 2026 | 82.6 | 72.6 |
| Sep 21, 2026 | 84.8 | 77.3 |
| Sep 22, 2026 | 85.8 | 77.1 |
| Sep 23, 2026 | 82.3 | 75.5 |
| Sep 24, 2026 | 81.9 | 75.5 |
| Sep 25, 2026 | 79.3 | 75.1 |
| Sep 28, 2026 | 75.5 | 74.5 |
| Sep 29, 2026 | 75.2 | 74.7 |
| Sep 30, 2026 | 72.7 | 74.7 |
| Oct 1, 2026 | 72.1 | 75.7 |
| Oct 2, 2026 | 73.2 | 75.4 |
| Oct 5, 2026 | 71.6 | 76.7 |
| Oct 6, 2026 | 71.9 | 76.6 |
| Oct 7, 2026 | 68.7 | 74.6 |
| Oct 8, 2026 | 64.3 | 73.1 |
| Oct 9, 2026 | 64.6 | 73.5 |
| Oct 12, 2026 | 62.9 | 74.0 |
| Oct 13, 2026 | 61.7 | 74.4 |
| Oct 14, 2026 | 55.9 | 73.1 |
| Oct 15, 2026 | 57.3 | 73.6 |
| Oct 16, 2026 | 52.4 | 72.8 |
| Oct 19, 2026 | 52.5 | 73.1 |
| Oct 20, 2026 | 52.5 | 73.8 |
| Oct 21, 2026 | 54.1 | 75.5 |
Sector average cost per bitcoin held$69,080 per BTC11 of 18 miners, newest as of Jun 30, 2026Bitcoin held above counts 15 of 18: the 4 more state a count, but no cost per bitcoin held is formed for them.
Facilities
Open the explorerOperating (91)Building (21)Planned (29)
* 1 site is not on the map because its filing gives no location:
MARA, International owned sites (five facilities, three countries incl. ADGM JV in Abu Dhabi and two Finland heat-recycling pilots)
Operations
Definitions| 76.7 | 15.8 | Not stated | No proxy | No proxy | |
MARA | 70.3 | 17.3 | Not stated | $27.1MFred Thiel, 2025 | 0.62%3rd of 8 that report both |
RIOT | 44.4 | Not stated | $90,6313 months to Jun 30, 2026 | $12.7MFormer: Jonathan Gibbs, 2025 | 0.15%8th of 8 that report both |
| 42.6 | 15.8 | $96,2773 months to Jun 30, 2026 | $48.8MFormer: Zachary K. Bradford, 2025 | 1.50%2nd of 8 that report both | |
| 28.1 | 16.0 | Not stated | $239.9MAsher Genoot, 2025 | 2.08%1st of 8 that report both | |
| 25.2* | 16.5* | Not stated | $5.3MAydin Kilic, 2026 | No market cap | |
| 23.2 | Not stated | Not stated | $72.6MWilliam Roberts, 2025 | 0.41%5th of 8 that report both | |
| 15.7 | Not stated | Not stated | $22.9MAdam Sullivan, 2025 | 0.40%6th of 8 that report both | |
| 14.8 | Not stated | Not stated | $5.7MBenjamin Gagnon, 2025 | No market cap | |
| 11.6 | Not stated | Not stated | $25.2MFormer: Edward Farrell, 2025 | 0.34%7th of 8 that report both | |
| 9.3 | 17.5 | $97,4863 months to Jun 30, 2026 | $39.4MPaul Prager, 2025 | 0.48%4th of 8 that report both | |
ARBK | 2.4* | Not stated | $101,56012 months to Dec 31, 2025 | No proxy | No proxy |
VIP | 1.0* | 20.8 | Not stated | $630.4KJordan Kovler, 2025 | No market cap |
| 0.4 | 22.0 | Not stated | $4.5MErke Huang, 2025 | No market cap | |
| Not stated | Not stated | Not stated | $1.5MFormer: Rahul Mewawalla, 2025 | No market cap | |
DGXX | Not stated | Not stated | Not stated | $12MMichel Amar, 2025 | No market cap |
DMGGF | Not stated | Not stated | Not stated | No proxy | No proxy |
DRK | Not stated | Not stated | Not stated | $2MKurt L. Kalbfleisch, 2025 | No market cap |
Latest filings
All filings| Oct 14, 2026 | Form 8-K | Form 8-K, Oct 14, 2026Items 8.01, 9.01 | |
|---|---|---|---|
| Oct 13, 2026 | ARS | ARS, Oct 13, 2026 | |
| Oct 13, 2026 | DEFA14A | DEFA14A, Oct 13, 2026 | |
| Oct 13, 2026 | DEF 14A | DEF 14A, Oct 13, 2026 | |
| Oct 13, 2026 | VIP | Form 8-K | Form 8-K, Oct 13, 2026Items 8.01, 9.01 |
| Oct 13, 2026 | DEFA14A x2 | DEFA14A, Oct 13, 20262 notices filed the same day; the first is linked | |
| Oct 13, 2026 | Form 4 | Form 4, Oct 13, 2026 | |
| Oct 13, 2026 | Form 144 | Form 144, Oct 13, 2026 |


VIP
DGXX
DMGGF
DRK