Bitcoin Mining Companies See Record Outputs in September
In September 2023, Bitcoin mining companies experienced a successful month, with significant improvements in their hash rates. While the crypto community has been focused on high-profile court cases, Bitcoin miners have been steadily increasing their production, ensuring a promising future supply of the cryptocurrency.
During this time, three mining firms achieved record outputs. CleanSpark mined 643 BTC, bringing its total holdings to 2,240. This resulted in their most profitable quarter and best fiscal year to date.
Riot Blockchain mined 362 BTC and received over $13 million in energy credits through a deal with ERCOT. Marathon Digital Holdings outperformed both companies by producing 1,242 BTC in September, bringing their Year-to-Date total to 8,610.
Despite Marathon’s success, they encountered an issue when they mined an invalid block due to an error in arranging Bitcoin transactions.
Hot Take: Bitcoin Mining Companies Boosting Supply Amidst Legal Battles
In the midst of legal battles involving SBF and Celsius’ Mashinsky, Bitcoin mining companies have been quietly increasing their hash rates and achieving record outputs. This is great news for the crypto industry as it promises a greater future supply of Bitcoin. CleanSpark, Riot Blockchain, and Marathon Digital Holdings all had successful months in September, with each company achieving impressive results.
CleanSpark saw its most profitable quarter and best fiscal year ever, while Riot Blockchain received millions of dollars in energy credits. Marathon Digital Holdings outperformed both companies by producing over 1,000 BTC during the month. However, Marathon faced a setback when it mined an invalid block due to transaction arrangement errors.
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