Overview
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Miner index against bitcoin
Equal-weight index of the miners, one year, both rebased to 100. As of Oct 20, 2026.
Miners, equal weight
Bitcoin, 16:00 ET74.4-25.6%
Method and sources
The equal-weight miner index fell to 49.4 in a year. Bitcoin fell to 74.4.
- Covers
- 252 sessions from Oct 20, 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 20, 2025 | 100.0 | 100.0 |
| Oct 21, 2025 | 93.0 | 100.9 |
| Oct 22, 2025 | 85.4 | 97.3 |
| Oct 23, 2025 | 87.9 | 99.5 |
| Oct 24, 2025 | 95.5 | 99.8 |
| Oct 27, 2025 | 97.9 | 103.6 |
| Oct 28, 2025 | 95.6 | 102.5 |
| Oct 29, 2025 | 92.9 | 99.9 |
| Oct 30, 2025 | 89.8 | 96.1 |
| Oct 31, 2025 | 91.5 | 99.1 |
| Nov 3, 2025 | 94.8 | 96.2 |
| Nov 4, 2025 | 88.3 | 90.8 |
| Nov 5, 2025 | 91.2 | 93.7 |
| Nov 6, 2025 | 83.6 | 91.0 |
| Nov 7, 2025 | 83.3 | 93.6 |
| Nov 10, 2025 | 82.6 | 95.6 |
| Nov 11, 2025 | 75.3 | 92.7 |
| Nov 12, 2025 | 72.0 | 91.6 |
| Nov 13, 2025 | 63.6 | 88.4 |
| Nov 14, 2025 | 60.6 | 85.0 |
| Nov 17, 2025 | 59.9 | 82.9 |
| Nov 18, 2025 | 62.3 | 83.7 |
| Nov 19, 2025 | 58.5 | 80.7 |
| Nov 20, 2025 | 56.4 | 77.9 |
| Nov 21, 2025 | 55.7 | 76.2 |
| Nov 24, 2025 | 62.6 | 80.4 |
| Nov 25, 2025 | 63.4 | 78.8 |
| Nov 26, 2025 | 66.7 | 81.1 |
| Nov 28, 2025 | 69.5 | 82.3 |
| Dec 1, 2025 | 66.4 | 77.1 |
| Dec 2, 2025 | 63.5 | 82.2 |
| Dec 3, 2025 | 65.4 | 83.9 |
| Dec 4, 2025 | 67.5 | 83.5 |
| Dec 5, 2025 | 64.9 | 80.6 |
| Dec 8, 2025 | 65.7 | 81.9 |
| Dec 9, 2025 | 68.1 | 84.0 |
| Dec 10, 2025 | 67.0 | 83.4 |
| Dec 11, 2025 | 67.3 | 82.8 |
| Dec 12, 2025 | 61.1 | 81.4 |
| Dec 15, 2025 | 54.0 | 77.4 |
| Dec 16, 2025 | 54.5 | 79.0 |
| Dec 17, 2025 | 52.1 | 77.4 |
| Dec 18, 2025 | 52.6 | 76.8 |
| Dec 19, 2025 | 57.2 | 79.3 |
| Dec 22, 2025 | 58.4 | 79.7 |
| Dec 23, 2025 | 57.2 | 79.1 |
| Dec 24, 2025 | 57.3 | 79.0 |
| Dec 26, 2025 | 55.0 | 79.0 |
| Dec 29, 2025 | 54.3 | 78.6 |
| Dec 30, 2025 | 52.6 | 79.2 |
| Dec 31, 2025 | 52.1 | 79.0 |
| Jan 2, 2026 | 57.3 | 80.9 |
| Jan 5, 2026 | 61.8 | 84.9 |
| Jan 6, 2026 | 60.9 | 83.4 |
| Jan 7, 2026 | 59.3 | 82.1 |
| Jan 8, 2026 | 60.5 | 81.9 |
| Jan 9, 2026 | 60.8 | 81.3 |
| Jan 12, 2026 | 63.5 | 82.5 |
| Jan 13, 2026 | 65.8 | 85.2 |
| Jan 14, 2026 | 66.3 | 88.1 |
| Jan 15, 2026 | 64.4 | 85.9 |
| Jan 16, 2026 | 67.4 | 86.1 |
| Jan 20, 2026 | 63.8 | 80.8 |
| Jan 21, 2026 | 63.1 | 81.3 |
| Jan 22, 2026 | 61.8 | 80.7 |
| Jan 23, 2026 | 63.9 | 80.6 |
| Jan 26, 2026 | 61.2 | 78.9 |
| Jan 27, 2026 | 65.3 | 80.6 |
| Jan 28, 2026 | 65.4 | 80.3 |
| Jan 29, 2026 | 62.2 | 75.8 |
| Jan 30, 2026 | 58.5 | 75.6 |
| Feb 2, 2026 | 57.4 | 70.3 |
| Feb 3, 2026 | 58.3 | 68.9 |
| Feb 4, 2026 | 53.3 | 66.2 |
| Feb 5, 2026 | 46.0 | 57.4 |
| Feb 6, 2026 | 53.3 | 63.1 |
| Feb 9, 2026 | 56.9 | 63.8 |
| Feb 10, 2026 | 55.5 | 62.0 |
| Feb 11, 2026 | 53.8 | 60.9 |
| Feb 12, 2026 | 51.8 | 58.9 |
| Feb 13, 2026 | 54.0 | 62.0 |
| Feb 17, 2026 | 52.3 | 61.1 |
| Feb 18, 2026 | 52.4 | 59.7 |
| Feb 19, 2026 | 53.2 | 60.5 |
| Feb 20, 2026 | 52.1 | 61.1 |
| Feb 23, 2026 | 52.6 | 58.1 |
| Feb 24, 2026 | 56.1 | 58.2 |
| Feb 25, 2026 | 56.8 | 62.4 |
| Feb 26, 2026 | 56.5 | 60.8 |
| Feb 27, 2026 | 53.8 | 59.2 |
| Mar 2, 2026 | 54.3 | 62.4 |
| Mar 3, 2026 | 50.9 | 61.5 |
| Mar 4, 2026 | 55.1 | 66.0 |
| Mar 5, 2026 | 52.8 | 64.3 |
| Mar 6, 2026 | 49.8 | 61.4 |
| Mar 9, 2026 | 51.5 | 62.2 |
| Mar 10, 2026 | 51.0 | 63.2 |
| Mar 11, 2026 | 52.9 | 63.7 |
| Mar 12, 2026 | 51.5 | 63.6 |
| Mar 13, 2026 | 51.1 | 64.2 |
| Mar 16, 2026 | 53.7 | 66.7 |
| Mar 17, 2026 | 53.6 | 67.2 |
| Mar 18, 2026 | 52.2 | 64.1 |
| Mar 19, 2026 | 52.2 | 63.4 |
| Mar 20, 2026 | 50.1 | 63.3 |
| Mar 23, 2026 | 52.7 | 63.8 |
| Mar 24, 2026 | 51.9 | 62.5 |
| Mar 25, 2026 | 53.8 | 63.9 |
| Mar 26, 2026 | 49.8 | 61.8 |
| Mar 27, 2026 | 47.1 | 59.6 |
| Mar 30, 2026 | 43.8 | 60.0 |
| Mar 31, 2026 | 46.5 | 61.2 |
| Apr 1, 2026 | 47.0 | 61.5 |
| Apr 2, 2026 | 47.9 | 60.4 |
| Apr 6, 2026 | 49.4 | 62.9 |
| Apr 7, 2026 | 50.4 | 62.2 |
| Apr 8, 2026 | 54.8 | 64.3 |
| Apr 9, 2026 | 56.1 | 65.0 |
| Apr 10, 2026 | 56.9 | 66.0 |
| Apr 13, 2026 | 60.0 | 66.2 |
| Apr 14, 2026 | 63.4 | 67.1 |
| Apr 15, 2026 | 63.4 | 67.7 |
| Apr 16, 2026 | 62.6 | 68.0 |
| Apr 17, 2026 | 66.5 | 69.9 |
| Apr 20, 2026 | 67.6 | 68.8 |
| Apr 21, 2026 | 65.1 | 67.7 |
| Apr 22, 2026 | 68.4 | 71.2 |
| Apr 23, 2026 | 67.5 | 70.1 |
| Apr 24, 2026 | 67.4 | 70.0 |
| Apr 27, 2026 | 66.5 | 69.3 |
| Apr 28, 2026 | 63.0 | 68.9 |
| Apr 29, 2026 | 61.3 | 68.1 |
| Apr 30, 2026 | 65.4 | 68.9 |
| May 1, 2026 | 66.4 | 70.7 |
| May 4, 2026 | 68.5 | 72.2 |
| May 5, 2026 | 74.3 | 73.6 |
| May 6, 2026 | 84.6 | 73.5 |
| May 7, 2026 | 80.9 | 72.3 |
| May 8, 2026 | 81.1 | 72.3 |
| May 11, 2026 | 83.9 | 73.9 |
| May 12, 2026 | 83.8 | 72.9 |
| May 13, 2026 | 85.3 | 71.8 |
| May 14, 2026 | 87.2 | 73.5 |
| May 15, 2026 | 82.6 | 71.4 |
| May 18, 2026 | 80.1 | 69.4 |
| May 19, 2026 | 79.5 | 69.2 |
| May 20, 2026 | 81.9 | 70.0 |
| May 21, 2026 | 86.7 | 70.0 |
| May 22, 2026 | 87.7 | 68.4 |
| May 26, 2026 | 92.3 | 68.5 |
| May 27, 2026 | 96.7 | 67.6 |
| May 28, 2026 | 98.2 | 66.1 |
| May 29, 2026 | 96.9 | 66.2 |
| Jun 1, 2026 | 103.7 | 64.5 |
| Jun 2, 2026 | 103.6 | 60.6 |
| Jun 3, 2026 | 103.4 | 59.0 |
| Jun 4, 2026 | 101.2 | 57.3 |
| Jun 5, 2026 | 89.6 | 54.4 |
| Jun 8, 2026 | 95.4 | 57.1 |
| Jun 9, 2026 | 91.8 | 56.0 |
| Jun 10, 2026 | 86.8 | 55.8 |
| Jun 11, 2026 | 93.6 | 57.4 |
| Jun 12, 2026 | 95.0 | 57.3 |
| Jun 15, 2026 | 99.6 | 60.1 |
| Jun 16, 2026 | 100.1 | 59.1 |
| Jun 17, 2026 | 100.1 | 57.9 |
| Jun 18, 2026 | 104.1 | 56.7 |
| Jun 22, 2026 | 105.3 | 58.1 |
| Jun 23, 2026 | 103.5 | 56.2 |
| Jun 24, 2026 | 97.7 | 54.0 |
| Jun 25, 2026 | 95.6 | 53.4 |
| Jun 26, 2026 | 97.5 | 53.9 |
| Jun 29, 2026 | 93.8 | 54.4 |
| Jun 30, 2026 | 92.5 | 52.9 |
| Jul 1, 2026 | 86.4 | 54.1 |
| Jul 2, 2026 | 79.1 | 55.4 |
| Jul 6, 2026 | 83.9 | 57.5 |
| Jul 7, 2026 | 78.7 | 57.6 |
| Jul 8, 2026 | 82.3 | 56.1 |
| Jul 9, 2026 | 84.8 | 57.0 |
| Jul 10, 2026 | 81.8 | 57.6 |
| Jul 13, 2026 | 78.0 | 56.1 |
| Jul 14, 2026 | 77.6 | 58.2 |
| Jul 15, 2026 | 77.8 | 58.6 |
| Jul 16, 2026 | 70.5 | 57.9 |
| Jul 17, 2026 | 70.1 | 57.8 |
| Jul 20, 2026 | 76.7 | 58.7 |
| Jul 21, 2026 | 83.5 | 60.0 |
| Jul 22, 2026 | 84.2 | 59.4 |
| Jul 23, 2026 | 85.6 | 58.4 |
| Jul 24, 2026 | 79.1 | 57.9 |
| Jul 27, 2026 | 75.9 | 58.6 |
| Jul 28, 2026 | 72.9 | 57.6 |
| Jul 29, 2026 | 64.4 | 57.3 |
| Jul 30, 2026 | 77.1 | 58.4 |
| Jul 31, 2026 | 74.7 | 56.7 |
| Aug 3, 2026 | 79.0 | 57.6 |
| Aug 4, 2026 | 76.7 | 57.9 |
| Aug 5, 2026 | 73.5 | 58.5 |
| Aug 6, 2026 | 71.3 | 58.1 |
| Aug 7, 2026 | 70.7 | 58.6 |
| Aug 10, 2026 | 65.8 | 57.7 |
| Aug 11, 2026 | 67.5 | 57.3 |
| Aug 12, 2026 | 70.6 | 57.1 |
| Aug 13, 2026 | 68.3 | 57.1 |
| Aug 14, 2026 | 69.8 | 56.7 |
| Aug 17, 2026 | 71.9 | 58.0 |
| Aug 18, 2026 | 65.8 | 58.3 |
| Aug 19, 2026 | 67.0 | 61.7 |
| Aug 20, 2026 | 71.0 | 65.5 |
| Aug 21, 2026 | 69.2 | 69.5 |
| Aug 24, 2026 | 67.6 | 71.1 |
| Aug 25, 2026 | 71.4 | 71.2 |
| Aug 26, 2026 | 69.6 | 70.8 |
| Aug 27, 2026 | 71.4 | 72.1 |
| Aug 28, 2026 | 65.5 | 69.9 |
| Aug 31, 2026 | 65.3 | 71.2 |
| Sep 1, 2026 | 63.0 | 69.7 |
| Sep 2, 2026 | 65.2 | 69.8 |
| Sep 3, 2026 | 71.3 | 73.8 |
| Sep 4, 2026 | 73.1 | 72.0 |
| Sep 8, 2026 | 76.3 | 70.7 |
| Sep 9, 2026 | 74.0 | 70.6 |
| Sep 10, 2026 | 70.8 | 69.6 |
| Sep 11, 2026 | 73.5 | 69.7 |
| Sep 14, 2026 | 70.6 | 71.3 |
| Sep 15, 2026 | 67.6 | 68.7 |
| Sep 16, 2026 | 69.4 | 68.6 |
| Sep 17, 2026 | 71.9 | 69.0 |
| Sep 18, 2026 | 77.6 | 73.2 |
| Sep 21, 2026 | 79.7 | 78.0 |
| Sep 22, 2026 | 80.6 | 77.8 |
| Sep 23, 2026 | 77.3 | 76.2 |
| Sep 24, 2026 | 76.8 | 76.1 |
| Sep 25, 2026 | 74.4 | 75.8 |
| Sep 28, 2026 | 70.9 | 75.2 |
| Sep 29, 2026 | 70.6 | 75.4 |
| Sep 30, 2026 | 68.3 | 75.4 |
| Oct 1, 2026 | 67.7 | 76.4 |
| Oct 2, 2026 | 68.7 | 76.0 |
| Oct 5, 2026 | 67.3 | 77.3 |
| Oct 6, 2026 | 67.5 | 77.2 |
| Oct 7, 2026 | 64.5 | 75.2 |
| Oct 8, 2026 | 60.4 | 73.7 |
| Oct 9, 2026 | 60.6 | 74.2 |
| Oct 12, 2026 | 59.1 | 74.7 |
| Oct 13, 2026 | 58.0 | 75.1 |
| Oct 14, 2026 | 52.5 | 73.7 |
| Oct 15, 2026 | 53.9 | 74.2 |
| Oct 16, 2026 | 49.3 | 73.5 |
| Oct 19, 2026 | 49.3 | 73.8 |
| Oct 20, 2026 | 49.4 | 74.4 |
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