In early May, mining companies reported on the results of their activities for the past month. ForkLog has collected the main indicators in one material.
Marathon Digital Holdings
In April, Marathon Digital Holdings produced 850 BTC — 21% more than in the same period last year. However, compared to March, the indicator decreased by 5%.
Data: Marathon Digital Holdings.According to the press release, the hashrate increased by 8% to a record 29.9 EH/s. The average operating figure for the past month increased by 15% and amounted to 21.1 EH/s.
"During April, we successfully connected approximately 2 EH/s miners to the network at various facilities [...]. Although halving will lead to a reduction in bitcoin mining for everyone, we are accelerating our growth plans to mitigate this impact," said the head of the company, Fred Thiel.
As of April 30, 2024, Marathon had 17,631 BTC on its balance sheet. The firm sold 600 BTC and confirmed its intention to sell some of its assets in digital gold in the future "to support monthly operations, treasury management and general corporate purposes."
Data: Marathon Digital Holdings.At the end of April, Marathon Digital increased the hashrate target in the first cryptocurrency network to 50 EH/s by the end of 2024.
Argo Blockchain
In April, Argo Blockchain generated 99 BTC (3.3 BTC per day) after 103 BTC in March. Revenue from mining amounted to $6.6 million (-6%).
"The daily production of bitcoins in April remained the same as in the previous month, despite the halving [...]. First of all, this is due to a temporary but significant increase in transaction fees in the days immediately following the halving," the press release says.
As of April 30, Argo Blockchain owned digital assets worth the equivalent of 12 BTC.
Riot Platforms
Over the past month, Riot Platforms has accumulated 375 BTC. The indicator is 12% lower than in March and 41% lower than in April 2023.
The company holds 8872 BTC. As of the end of the month, the hashrate is estimated at 12.6 EH/s.
Data: Riot Platforms."In April, Riot reached an important milestone by launching a second dedicated bitcoin mining facility located in Corsicana, Texas, on the eve of halving on April 20, 2024.[...] It is expected that [...] by the end of the year, Riot's self—mining capacity will reach 31 EH/s," said Jason Les, CEO of the company.
For the first quarter, Riot's net profit was $211.8 million, and earnings per share was $0.82. Total revenue was $79.3 million compared to $73.2 million from January to March 2023. The positive dynamics in the company was explained by the increase in the price of the first cryptocurrency.
During the quarter, 1,364 BTC were generated — 36% less than a year earlier. The reason was an increase in the complexity of mining. Revenue from core operations amounted to $74.6 million for the quarter.
HIVE Blockchain
HIVE Blockchain Technologies produced 212 BTC in April (an average of 7.1 BTC per day) against 224 BTC in the previous period. At the end of the month, the mining company held 2,377 BTC — 4% more than in March.
The hashrate was 5 EH/s, including the capacity of the fleet of graphics processors (GPUs). The indicator turned out to be 6% more than in the previous period.
"With the arrival of the remaining Antminer S21 from Bitmain in May and June, we expect to reach 5.5 EH/s," said Aydin Kylich, President and CEO of HIVE.
The company added that they remain optimistic after halving in terms of operating profit.
Bitfarms
In April, Bitfarms mined 269 BTC compared to 286 BTC in March (-6%). At the end of the month, the hashrate was 7 EH/s.
Data: Bitfarms.Halving and an increase in mining complexity, as well as maintenance at the facility in Argentina, were cited as the reason for the decline in production at Bitfarms.
The company sold 245 BTC, receiving $16.1 million. The number of bitcoins held is 830 (approximately $50.9 million as of April 30).
Data: Bitfarms.The company added that in April it received confirmation from the Canadian tax authorities of a VAT refund in the amount of $23.7 million plus interest.
"This solution provides both a short—term source of cash and a long-term reduction in operating and capital costs," the release says.
Hut 8 Mining
In April, Hut 8 Mining produced 148 BTC, which is 36% less than in March. At the end of the month, the firm held 9109 BTC.
The total hashrate under management was 26.6 EH/s, own — 4.5 EH/s.
Data: Hut 8 Mining.The company reported that 63 MW have been commissioned at the Salt Creek facility (Colorado). The Ionic Digital Cedarvale site with a capacity of 215 MW is also partially connected.
Bit Digital
Bit Digital mined 119.3 BTC in April — 12.5% less than in the previous period.
As of the end of the month, the company's hashrate was approximately 2.76 EH/s.
Bit Digital estimated treasury reserves in the first and second cryptocurrencies at 992.4 BTC and 20,241.7 ETH at a fair market value of approximately $60.2 million and $61 million, respectively (as of April 30). The company's cash and cash equivalents amounted to $43.7 million.
Dynamics of securities of mining companies over the past five days (as of May 10, 2024):
Marathon Digital Holdings (MARA): +9,68%;Argo Blockchain (ARBK): -3,52%;Riot Blockchain (RIOT): -3,47%;Hut 8 Corp. (HUT): -3,21%;HIVE Blockchain (HIVE): -5,93%;Bitfarms (BITF): -0,54%;Bit Digital (BTBT): 0%.Recall that the founder and CEO of CryptoQuant, Ki Yun Joo, found no signs of capitulation of bitcoin miners, despite the halving of the block reward as a result of halving.
On the day of the event, the average commission amount in the network of the first cryptocurrency reached a record, which is largely due to the hype around the Runes protocol. The latter, according to the head of TeraWulf, Nazar Khan, is a "lifeline" for miners.
The share of tokens on the Runes protocol in the total number of daily transactions on the blockchain of the first cryptocurrency on April 23 was 81.3%.
https://forklog.com/cryptorium/chto-takoe-runes-v-seti-bitkoina-i-chem-oni-otlichayutsya-ot-brc-20