At the beginning of October, major #bitcoin miners presented their reports on their activities in September. Let's analyze the current state of Bitcoin mining and assess the potential impact of miners' actions on the cryptocurrency market.

Marathon Digital Holdings

  • Mined: 1,242 BTC (15,86% higher than in August)

  • Sold: 800 BTC

  • Balance as of September 30th: 13,726 BTC

In September, Marathon Digital Holdings mined 1,242 BTC, which is 15.86% higher than in August. They also sold 800 BTC and their balance as of the end of September is 13,726 BTC. Fred Thiel, the Chairman of the Board and CEO of the company, stated that this increase is due to increased operational hours and a reduction in mining closures in Texas. Marathon has achieved its primary internal growth target of 23 EH/s and plans to expand mining in the coming weeks.

Bitfarms

  • Mined: 411 BTC (7.31% higher than in August)

  • Sold: 362 BTC

  • Balance as of September 30th: 703 BTC

In the last four weeks, Bitfarms mined 411 BTC, which is 7.31% higher than in August. Their hash rate increased by 9% to 6.1 EH/s. Despite some delays in electrical infrastructure work, the company managed to achieve their target results. Bitfarms had 703 BTC at the end of September.

Riot Platforms

  • Mined: 362 BTC (8.71% higher than in August)

  • Sold: 340 BTC

  • Balance as of September 30th: 7,327 BTC

In September, Riot Platforms mined 362 BTC. The company secured $11 million in electricity credits and $2.5 million in credits to meet demand. They also entered into a long-term agreement with MicroBT to purchase new equipment, which will further increase their hash rate to 20.1 EH/s. Riot Platforms had 7,327 BTC at the end of September.

Argo Blockchain

  • Mined: 136 BTC (29.52% higher than in August)

  • Sold: 153 BTC

  • Balance as of September 30th: 32 BTC

In September, Argo Blockchain mined 136 BTC, which is 29.52% higher than in August. They also secured significant electricity credits, allowing them to reduce costs and increase mining margins. The increase in BTC mining volume primarily resulted from reduced downtime. Argo Blockchain had 32 BTC at the end of September.

Bit Digital

  • Mined: 130,2 BTC (7% higher than in August)

  • Sold: 67,6 BTC

  • Balance as of September 30th: 821,1 BTC

In September, Bit Digital mined 130,2 BTC, which is 7% lower than in August. The decrease in mining volume is attributed to the rising mining difficulty and the migration of some miners to alternative hosting platforms. Bit Digital had 821,1 BTC at the end of September. Therefore, their #btc and #eth treasury reserves at the end of September are 821,1 BTC and 13,783.4 ETH, respectively.

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 👍.