Bitcoin (BTC) miners listed in the United States are growing their share of the network’s hash rate, broker Bernstein said in a report Monday.

Hashrate refers to the overall combined calculation power used to mine and treat transactions on a proof of work blockchain and is a power of attorney for competition in the industry and mining.

“US -listed Bitcoin miners increase their share of the network’s hash rate and exploit access to capital, land and power,” wrote analysts led by Gautam Chhugani.

These companies grew their share of the Bitcoin network to about 29% in January, from approx. 20% a year ago, the report says, adding that big miners aggressively expanded their hashrates in 2024.

Iren (IREN) grows its hash rate the fastest, followed by Cleanspark (CLSK), Riot Platforms (Riot) and Mara Holdings (Mara), Bernstein said.

Bernstein has a better assessment of IREN (PT $ 26), Cleanspark (PT $ 30) and Riot Platforms (PT $ 22). Mara Holdings (PT $ 23) is marketed.

Iren, Mara Holdings and Cleanspark all prestored well with “powder efficiency and uptime” added the report.

Wall Street Bank JPMorgan (JPM) said that January was a quiet month for hashrate growth.

Read more: Bitcoin Network Hashrate Growth was muted in January: JPMorgan