At the beginning of March, #mining companies reported the results of their activities for February 2024.

Read. Bitcoin Miners: Report for January

7 mining companies

Marathon Digital Holdings

  • Mined: 833 BTC

  • Hashrate: 28.7 EH/s

  • Sold: 290 BTC

  • Balance as of February 29th: 16,930 BTC

According to the press release, the company increased its fleet by 8% in the last month of winter, reaching 231,000 devices.

Riot Platforms

  • Mined: 418 BTC

  • Hashrate: 12.4 EH/s

  • Sold: -

  • Balance as of February 29th: 8,067 BTC

The company's CEO, Jason Les, mentioned the purchase of 31,500 miners from MicroBT to be installed at the Rockdale facility in Texas. It is expected that the #hashrate will grow to 15.1 EH/s.

The company also acknowledged that the ongoing chip shortage and the need to increase hashrates could have a negative impact on its financial condition.

In February, Riot and the Texas Blockchain Council filed a lawsuit demanding the authorities to stop collecting information. Earlier, the US Department of Energy's Office of Energy Information announced a survey to assess the energy consumption of miners.

Bitfarms

  • Mined: 300 BTC

  • Hashrate: 6.5 EH/s

  • Sold: 300 BTC

  • Balance as of February 29th: 804 BTC

The company sold all mined coins for the month, receiving $15.1 million. Bitfarms reduced its total outstanding debt by $2 million, eliminating all liabilities.

Hut 8 Mining

  • Mined: 292 BTC

  • Hashrate: 27 EH/s

  • Sold: -

  • Balance as of February 29th: 9,110 BTC

The miner announced the start of construction of a #Bitcoin mining facility in Calbertson with an expected hashrate of 3.6 EH/s at the end of February. Hut 8 expects that the cost of mining bitcoin at the new data center will be approximately 30% lower than at the company's existing facilities in Granbury, Texas, and Kearney, Nebraska.

HIVE Blockchain

  • Mined: 200 BTC

  • Hashrate: 4.2 EH/s

  • Sold: -

  • Balance as of February 29th: 2,131 BTC

The hashrate reached 4.2 EH/s, including the power of the GPU park. This figure was 9% higher than the previous period.

Bit Digital

  • Mined: 128.7 BTC

  • Hashrate: 2.73 EH/s

  • Sold: -

  • Balance as of February 29th: 847.7 BTC

Bit Digital assessed the treasury reserves in the first and second cryptocurrencies at 847.7 #BTC and 15,593.1 ETH with a fair market value of approximately $51.9 million and $52.1 million, respectively (as of February 29). The company's cash and cash equivalents amounted to $34.3 million.

Argo Blockchain

  • Mined: 92 BTC

  • Hashrate: -

  • Sold: -

  • Balance as of February 29th: 14 BTC

Revenue amounted to $4.5 million, a 15% decrease from January. Argo Blockchain also announced the sale of its data center in Mirabel (Quebec, Canada) for $6.1 million. The proceeds will be used to repay a mortgage loan on the property, with the remaining amount going towards settling debts with Galaxy Digital Holdings.

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 .👍