The largest mining companies Marathon Digital and Riot Platforms reported the highest monthly volume of bitcoin mining since April 2024. Recall that another $BTC
halving took place then, after which the reward for block generation was halved.
According to the statement of Marathon Digital CEO Fred Thiel, in October the company mined 717 #BTC☀ worth about $48.8 million. The head of the company explained this figure by the growth of hash rate by 14% above 40 Eh/s.
According to Thiel, another factor that influenced the mining growth was higher transaction fees. For instance, mining pool company MARAPool and private pool Slipstream helped a miner earn $400,000 worth of bitcoins through two high-commission transfers.
Riot Platforms also reported strong results for October. During the month, the miner mined 505 BTC worth about $34.4 million, a 22.6% increase from September. The miner attributed the growth to an increase in hash rate to 29.4 Eh/s, up from 28.2 Eh/s the previous month, when the company installed new MicroBT miners at its Corsicana facility.
Despite the strong monthly reports, shares of Marathon (MARA) and Riot (RIOT) fell 3.79% and 4.87% on Nov. 4, according to Google Finance data.