Bitcoin Production and Mining Updates: Marathon, Riot and CleanSpark

Bitcoin ecosystem participant Marathon Digital Holdings recently released public updates on new miners’ setup and unaudited Bitcoin production for September 2023. The business trades under the ticker symbol MARA on the NASDAQ and keeps making significant advancements in mining cryptocurrencies.

Furthermore, the Marathon achieved a significant mile­stone by increasing their monthly average ope­rational hash rate by 20%, producing 1,242 BTC in Septe­mber 2023. This achievement is important since it marks a 16% increase over the previous month and an astounding 245% increase over the same period last year.

CEO of Marathon, Fred Thiel, attributes the recent increase in Bitcoin production from August to improved uptime and decreased curtailment activity in Taxes. The firm currently receives a record-breaking 4.3% of the Bitcoin network’s miner payouts, beating the previous high of 4.1% in July 2023.

Fred Thie­l expressed satisfaction on Octobe­r 4th when the stateme­nt was released, announcing the­ achievement of the­ir target of 23 exahashes in installe­d capacity. The American company is actively se­arching for new mining sites that provide e­asy access to renewable­ energy sources at re­asonable costs:

“We are evaluating multiple opportunities for our next 5 exahashes of hash rate capacity including international locations with low-cost renewable energy.”

Riot Platforms Achieves Increase in Bitcoin Production

Riot Platforms, Inc., a well-known cryptocurrency mining company, has revealed incredible outcomes for its Bitcoin production in September 2023. Reiterating its status as a significant player in the Bitcoin ecosystem, the company disclosed that it had mined 362 Bitcoins throughout the month.

Riot Platforms CEO Jason Les stated that the contract has remained a significant source of revenue for the company. This statement resulted in them receiving $11.0 million in Power Credits from their utility provider and an additional $2.5 million in Demand Response Credits through participation in ERCOT’s ancillary services program.

The Bitcoin mining company CleanSpark announced that it had produced 643 BTC in September and 6,903 BTC overall for the fiscal year ending on 30 September 2023. CleanSpark’s share price surged 4.61% to $3.63 on 4 October as CEO Zach Bradford attributed its success to increased efficiency and affordable energy.

While Bit Digital’s Bitcoin output experienced a setback in September, falling 7% to 130.2 BTC. The company attributed this decline to the approximately 600 petahashes to miners that stopped operating on 26 September due to a maintenance outage by utility power, and Bit Digital remains active in bitcoin mining.

Related Reading: Bitcoin Has Potential To Shield Wealth From Detrimental Factors

“The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.”

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