Bitcoin mining company Riot Platform mined 1,106 Bitcoins in the third quarter, holding a total of 7,327 Bitcoins.
On November 9th, Bitcoin mining company Riot Platform announced its production and operation updates for the third quarter. In this quarter, a total of 1,106 Bitcoins were mined, bringing the total production since the beginning of 2023 to 4,996. In addition, the total revenue for this quarter was $51.9 million, with a hash rate capacity of 10.9EH/s, setting a new historical record. As of the end of this quarter, the company has a total of $290 million in cash and 7,327 Bitcoins, with a total liquidity of nearly $500 million.
Bitcoin mining revenue increased by $131.45 million in October from September
In October, Bitcoin mining revenue increased by $131.45 million compared to September. The soaring price of BTC last month greatly boosted mining revenue, while fee revenue decreased by $5.44 million compared to the previous month. In addition, in terms of monthly income generated by BTC block rewards, October ranked second in the year.
BTC Digital Purchases 220 New Bitcoin Mining Units, Bringing Total to 2,174
BTC Digital, a China-based company that provides English language training services, has announced the purchase of 220 new Bitcoin mining units, bringing its total to 2,174 machines with over 230PH/s of computing power. The new acquisitions are expected to become operational by the end of November. The company made the deal with two unaffiliated third parties for Bitmain Antminer S19j Pro units in exchange for shares of ordinary company stock valued at $968,800. BTC Digital expanded into Bitcoin mining at the end of 2021 and aims to continue improving its financial conditions and maximizing value for shareholders with the recent purchases and plans to increase the number of mining machines.
Marathon Digital Mines Bitcoin Using Methane Gas from Landfill
Marathon Digital has started mining Bitcoin using methane gas extracted from a landfill in Utah. The 280-kW off-grid pilot project is a collaboration between Marathon and Nodal Power, which raised $13 million in a seed round in August to operate two sites, one of which includes a data center. If successful, Marathon plans to expand its footprint in this area and help landfill operators meet their environmental targets. Other Bitcoin miners, such as Genesis Digital Assets Limited, are also seeking new green generating solutions.
Crypto mining company TeraWulf produced 314 Bitcoins in October
Cryptocurrency mining company TeraWulf Inc. (NASDAQ stock code: WULF) has announced production and operation updates for October 2023, with a production output of 314 BTC in October and a total of 2,744 BTC mined so far this year. After a planned interruption in the first week of October, the company achieved over 95% of its self-mining hash rate target. The average electricity cost for producing one bitcoin in October was $10,800, or about $0.034 per kilowatt-hour. Sean Farrell, Senior Vice President of Operations at TeraWulf, said: "Bitcoin production in October was slightly lower than in September, due to unfavorable network factors, including a significant increase of 9.3% in network difficulty compared to the previous month."
Argentine Proposal to Mine Bitcoin with Excess Natural Gas Generates Controversy
Argentine presidential candidate Sergio Massa has received criticism from the country's cryptocurrency community for a proposal to mine Bitcoin using excess natural gas from the Vaca Muerta oil fields. The proposal was presented by computer scientist Santiago Siri and would involve using surplus gas from Vaca Muerta, a major shale oil and gas deposit in western Argentina, to power bitcoin mining operations. While the project has its proponents, Bitcoin miners and advocates have expressed skepticism, arguing that BTC mining is too complex and competitive for the government to get involved. Critics suggest that private-public partnerships may be a better alternative model if the state wishes to participate.
Bitcoin mining company Cipher Mining produced approximately 428 BTC in October, an increase of 3% month-on-month.
Bitcoin mining company Cipher Mining Inc. released its October operational update, with the company producing approximately 428 BTC in October, an increase of about 3% from the previous month. Additionally, the average monthly network hash rate in October increased by about 9% from the previous month.
As part of its regular financial management process, Cipher sold approximately 466 BTC in October, with a balance of approximately 516 BTC at the end of the month and a running hash rate of 7.2 EH/s.
Listed mining company Quantum Blockchain completed approximately US$2.4 million in financing
On October 31st, Quantum Blockchain, a mining company listed on the London Stock Exchange, completed a £2 million (approximately $2.4 million) financing through a new share placement.
The new funds will be used to advance its research and development plans by increasing recruitment, new hardware, and software development, and may establish cloud service infrastructure in North America.
Marathon Digital launches 200MW Bitcoin mining center in Abu Dhabi
Marathon Digital Holdings announced on X platform that it has launched a 200-megawatt immersive cooling Bitcoin mining center in Masdar City, Abu Dhabi in partnership with Zero Two. The company stated that it will further develop digital asset infrastructure in Abu Dhabi.
Listed Mining Companies Stopped Increasing Their Holdings of Bitcoin in May Last Year and Have Reduced Their Holdings by a Total of 11,000 So Far
According to Jaran Mellerud, a mining service analyst at Luxor Technologies, listed mining companies will stop increasing their holdings of Bitcoin in May 2022. Since then, their holdings have decreased from 46,000 coins to 35,000 coins, indicating they have sold more Bitcoin than they have mined during that period.
