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Bitcoin Miners Increased Hash Rate and Production Despite Falling BTC Prices in 2022

The price of Bitcoin (BTC) fell by 64.68% to $16,870 from around $47,766 at the beginning of the year, CryptoSlate data shows. At the same time, share prices of Bitcoin mining companies fell by 91% on average from their 52-week high prices, according to Compass Mining.

However, this has not deterred mining firms from increasing their Bitcoin mining capabilities throughout 2022, as per a Compass Mining report. CleanSpark, for instance, grew its BTC mining hash rate from 1.9 EH/s at the start of 2022 to 6.0 EH/s or about 62,000 miners to date — an increase of 189%, the Compass Mining report stated.

Bit Digital and Riot Blockchain bumped their hash rate by 157%  and 148%, respectively. Additionally, according to the report, Bitfarms, Digihost, and Marathon Digital Holdings each increased their mining hash rate by 100%.

Bitcoin Bitcoin $93,275.80
-3.04%
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