Bitcoin (BTC) mining in 2025: Winners and laggards emerge as IREN leads and BTDR falls behind<\/title><meta name=\"description\" content=\"Diversification into AI and HPC infrastructure drove sharp outperformance for miners, while pure-play bitcoin miners lagged.\"><link rel=\"manifest\" href=\"http:\/\/www.coindesk.com\/manifest.webmanifest\"><meta name=\"robots\" content=\"index, follow, nocache\"><meta name=\"googlebot\" content=\"index, follow, max-video-preview:-1, max-image-preview:large, max-snippet:-1\"><meta name=\"page_url\" content=\"https:\/\/www.coindesk.com\/markets\/2025\/12\/26\/bitcoin-mining-in-2025-iren-claims-the-crown-as-bitdeer-s-stock-trails-the-pack\"><meta name=\"media_type\" content=\"html\"><meta name=\"page_category\" content=\"article_page\"><meta name=\"content_language\" content=\"en\"><meta name=\"parsely-link\" 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content=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/8dc6d23668d6f98ba6b7defb7758619ae24c34a5-2562x1652.png?auto=format&w=960&h=540&crop=focalpoint&fit=clip&q=75&fm=jpg\"><meta property=\"og:image:width\" content=\"2562\"><meta property=\"og:image:height\" content=\"1652\"><meta name=\"twitter:card\" content=\"summary_large_image\"><meta name=\"twitter:site\" content=\"@coindesk\"><meta name=\"twitter:creator\" content=\"@coindesk\"><meta name=\"twitter:creator:id\" content=\"1418565129\"><meta name=\"twitter:title\" content=\"Bitcoin (BTC) mining in 2025: Winners and laggards emerge as IREN leads and BTDR falls behind\"><meta name=\"twitter:description\" content=\"Diversification into AI and HPC infrastructure drove sharp outperformance for miners, while pure-play bitcoin miners lagged.\"><meta name=\"twitter:image\" content=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/8dc6d23668d6f98ba6b7defb7758619ae24c34a5-2562x1652.png?auto=format&w=960&h=540&crop=focalpoint&fit=clip&q=75&fm=jpg\"><meta name=\"twitter:image:width\" content=\"2562\"><meta name=\"twitter:image:height\" content=\"1652\"><\/head><body class=\"\n\t\t\t\t\tlight\n\t\t\t\t\tbg-default\n\t\t\t\t\ttext-default\n\t\t\t\t\toverflow-x\n\t\t\t\t\tscroll-smooth\n\t\t\t\t\toverflow-x-hidden\n \t\t\t\ttemp_prefix_sm:[&:has(#side-bar:not(:empty))_#content]:pr-[72px]\n \t\t\t\ttemp_prefix_sm:[&:has(#side-bar:not(:empty))_#main-navigation]:z-[102]\n\t\t\t\t\" id=\"readabilityBody\"><\/p>\n<\/p>\n<\/body><\/div>\n James Van Straten <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/12\/26\/bitcoin-mining-in-2025-iren-claims-the-crown-as-bitdeer-s-stock-trails-the-pack\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoins Bitcoin (BTC) mining in 2025: Winners and laggards emerge as IREN leads and BTDR falls behind James Van Straten Read 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