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Best Bitcoin Mining Hardware Companies in 2025: Bitmain vs Whatsminer vs Canaan Compared
As Bitcoin mining grows more competitive and capital-intensive, choosing the right mining hardware supplier is critical. In 2025, three companies dominate the ASIC manufacturing space: Bitmain, Whatsminer (MicroBT), and Canaan.
Each of these companies has carved out a unique niche in the mining ecosystem. Whether you’re mining solo, through a hosting provider, or as part of a managed service like Epic Mining, the quality, efficiency, and service level of your hardware provider will directly impact your long-term profitability.
In this article, we’ll compare the top three ASIC suppliers across performance, efficiency, support, innovation, and global market share.
Company Timelines and Market Evolution
Bitmain
- 2013: Founded in Beijing, quickly becomes the market leader
- 2016: Launch of Antminer S9 revolutionizes mining
- 2021: Introduces Antminer S19 XP during bull run
- 2023–2025: Focuses on hydro-cooling and high-efficiency immersion units; maintains lead
The Bitmain World Digital Mining Summit (WDMS)
Whatsminer (MicroBT)
- 2016: Founded by former Bitmain engineer
- 2019: Gains traction with M20 series
- 2022: M50S launches, praised for durability and resale value
- 2025: Expands further into professional-scale data centers
Yang Zuoxing, founder of Micro-BT
Canaan
- 2013: Founded in Hangzhou
- 2019: Becomes first crypto hardware firm to go public (NASDAQ: CAN)
- 2022: Launches Avalon A13 series
- 2025: Shifts focus toward immersion-ready and affordable models for new markets
Canaan’s IPO on the NASDAQ
Bitmain (Antminer Series)
Bitmain is the most well-known and widely used manufacturer in the Bitcoin mining industry. Its flagship Antminer models dominate the hashpower across the global network.
Strengths:
- Best-in-class efficiency (especially with newer XP and Hydro models)
- Proven track record in large-scale deployments
- Widespread support among hosting providers
Challenges:
- Often requires large Minimum Order Quantities (MOQs)
- Long lead times during bull markets
- Limited access to official support for small buyers
Interesting Fact: Bitmain hosts its annual World Digital Mining Summit (WDMS), one of the most influential events in the mining industry.
An example of a Bitmain ASIC miner used to mine Bitcoin.
Whatsminer (MicroBT)
Whatsminer, created by MicroBT, has gained significant market share over the past five years thanks to its focus on simplicity, durability, and performance.
Strengths:
- Extremely stable and durable machines
- Strong efficiency in high-end models (e.g., M50S)
- High resale value in secondary markets
Challenges:
- Fewer global distributors than Bitmain
- Slower to adopt liquid cooling and hydro innovations
Fun Fact: Whatsminer’s share of the global hashrate has steadily increased year-over-year, making it Bitmain’s most serious competitor.
An example of a Whatsminer ASIC Bitcoin Mining machine
Canaan (Avalon Series)
Canaan, known for its AvalonMiner series, was the first mining company to go public (NASDAQ: CAN). It focuses on long-term innovation, R&D, and tapping into emerging markets like Africa and Southeast Asia.
Strengths:
- Public company with solid financial disclosures
- Competitive on pricing
- Strategic partnerships in underdeveloped mining regions
Challenges:
- Historically less efficient than Bitmain and Whatsminer
- Less brand recognition among retail miners
Notable Move: Canaan has announced new lines of immersion-cooling compatible miners for 2025.
The Canaan Avalon A15XP ASIC Bitcoin Miner
A Smarter Alternative: Epic Mining
One alternative that’s gained traction is Epic Mining. Unlike Compass, Epic handles everything under one roof:
- You own the machine and receive a certificate of ownership
- Mining takes place in a 100% hydro-powered facility in Ethiopia
- You pay only for uptime, and receive daily BTC payouts
- YCustomer support is fast, personal, and highly rated
It’s a true plug-and-play model that eliminates third-party complexity while delivering predictable performance.
Top Mining Models of 2025
| Manufacturer | Model | Efficiency (J/TH) | Hashrate (TH/s) | Cooling |
|---|---|---|---|---|
Bitmain |
Antminer S21 XP |
~18.5 |
188 |
Hydro |
Whatsminer |
M60S |
~20.5 |
172 |
Air-cooled |
Canaan |
Avalon A15XP |
~21.2 |
203 |
Immersion-ready |
These are some of the most sought-after machines in 2025. Bitmain remains the leader in raw efficiency, Whatsminer excels in reliability and resale value, while Canaan focuses on affordability and cooling flexibility.
Side-by-Side Comparison
| Feature | Bitmain (Antminer) | Whatsminer (MicroBT) | Canaan (Avalon) |
|---|---|---|---|
Market Share (2025 est.) |
~50% |
~35% |
~10–15% |
Efficiency (J/TH) |
⭐ |
⭐ |
⭐ |
MOQ for Direct Purchase |
High |
Medium |
Low |
Global Distribution |
Extensive |
Moderate |
Limited |
Cooling Technology |
Air, Hydro, Immersion |
Air, Some Hydro |
Air, Immersion-ready |
Reputation for Reliability |
High |
Very High |
Air, Moderate |
Where These Companies Are Headed Next
- Bitmain is doubling down on advanced hydro and immersion solutions, aiming to dominate professional-scale deployments and mega-farms.
- Whatsminer (MicroBT) is expanding manufacturing capacity and targeting institutional-scale users while preserving its brand image as the most rugged and stable.
- Canaan is investing heavily in R&D to close the efficiency gap and capitalize on under-served geographies with lower electricity costs.
Final Take
If you’re a miner looking to maximize efficiency and access large-scale hosting, Bitmain remains the go-to—but only if you can meet their volume and logistical requirements.
For smaller investors or those seeking stable, durable hardware with strong resale value, Whatsminer is a favorite.
If you’re exploring emerging markets or want to optimize pricing on entry-level machines, Canaan may offer the most flexible options.