At the beginning of January, #mining companies reported the results of their activities for December 2023.
7 mining companies
Marathon Digital Holdings
Mined: 1,853 BTC
Sold: 704 BTC
Balance as of December 31th: 15,174 BTC
The hash rate increased by 4%, reaching 24.7 EH/s. The company aims to achieve a 30% growth in this metric in 2024 and, considering the acquisition of two facilities from Generate Capital, reach 50 EH/s within the next 18-24 months.
Riot Platforms
Mined: 619 BTC
Sold: 590 BTC
Balance as of December 31th: 7,362 BTC
The net revenue amounted to $25.3 million. As of the end of the month, the hash rate is estimated at 12.4 EH/s.
Hut 8 Mining
Mined: 453 BTC
Sold: -
Balance as of December 31th: 9,195 BTC
By the end of the month, the total managed hash rate reached 21.5 EH/s, with Hut 8 Mining contributing 7.2 EH/s.
On December 31st, Hut 8 Mining signed an agreement to purchase a substation with a capacity of 63 MW and 1.9 acres of land for approximately $7.1 million. Additionally, the company entered into a lease agreement for an additional 20 acres in Culberson County, Texas.
Bitfarms
Mined: 446 BTC
Sold: 444 BTC
Balance as of December 31th: 804 BTC
By the end of December, the hash rate reached 6.5 EH/s. Bitfarms reduced its total outstanding debt by $2 million, leaving a remaining balance of $4 million at the end of the month. The miner plans to settle this amount by February 2024.
HIVE Blockchain
Mined: 282,8 BTC
Sold: 202,8 BTC
Balance as of December 31th: 1,707 BTC
The hash rate reached 4.08 EH/s, including the capacities of the graphics processing unit (GPU) fleet.
The company also announced the appointment of Luke Rossi as the Chief Operating Officer and Mario Sergi as the Director of Information Technology.
In December, HIVE Blockchain disclosed the acquisition of 7,000 Antminer S21 units from Bitmain. The delivery is expected to take place from January to June 2024. Following the installation of the equipment, the company's average energy efficiency is projected to be 25 J/TH, with a hash rate of 5.8 EH/s.
Bit Digital
Mined: 169,5 BTC
Sold: -
Balance as of December 31th: 642,6 BTC
As of the end of the month, the company's hash rate was approximately 2.52 EH/s.
Bit Digital assessed its treasury reserves in the first and second cryptocurrencies as 642.6 BTC and 17,399.3 ETH, with a fair market value of approximately $27.2 million and $39.7 million, respectively (as of December 31st). The company's cash and #cash equivalents amounted to $16.9 million.
Argo Blockchain
Mined: 155 BTC
Sold: 146 BTC
Balance as of December 31th: 9 BTC
Argo Blockchain was generating 5 #btc per day. The company increased its daily mining output by 4% compared to November, despite the rising #bitcoin mining difficulty.
The stock performance of mining companies over the last 5 days
Marathon Digital Holdings (MARA): -13,74%
Argo Blockchain (ARBK): -32,81%
Riot Blockchain (RIOT): -15,11%
Hut 8 Corp. (HUT): -25,37%
HIVE Blockchain (HIVE): -20,83%
Bitfarms (BITF): -20,39%
Bit Digital (BTBT): -26,29%
Mining is indeed an interesting topic. It's fascinating to see how these companies are navigating the mining landscape and the impact it has on the overall cryptocurrency market. We'd like to hear your opinion .đ
