{"id":9600,"date":"2024-01-08T19:39:35","date_gmt":"2024-01-08T17:39:35","guid":{"rendered":"https:\/\/forklog.com\/en\/marathon-mines-record-1853-btc-in-december\/"},"modified":"2024-01-08T19:39:35","modified_gmt":"2024-01-08T17:39:35","slug":"marathon-mines-record-1853-btc-in-december","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/marathon-mines-record-1853-btc-in-december\/","title":{"rendered":"Marathon Mines Record 1853 BTC in December"},"content":{"rendered":"

At the beginning of January, mining companies reported their performance for the previous month. ForkLog compiled the key figures in one article.<\/p>\n

Marathon Digital Holdings<\/strong><\/h2>\n

In December 2023, Marathon Digital Holdings mined<\/a> a record number of coins \u2014 1853 BTC. For the entire year, the figure amounted to 12,852 BTC.<\/p>\n

\"Marathon
Source: Marathon Digital Holdings.<\/figcaption><\/figure>\n

According to the press release, the hash rate increased by 4% to 24.7 EH\/s. The company plans to boost this figure by 30% in 2024, and with the acquisition of two facilities from Generate Capital, aims to reach 50 EH\/s “in the next 18-24 months.”<\/p>\n

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“In one month, MaraPool collected over 380 BTC in transaction fees, or 22% of BTC mined compared to 12% the previous month,” noted CEO Fred Thiel.<\/p>\n<\/blockquote>\n

As of December 31, 2023, Marathon held 15,174 BTC. The firm sold 704 BTC to cover operating expenses and intends to sell part of its Bitcoin holdings in the future “to support monthly operations, treasury management, and general corporate purposes.”<\/p>\n

\"Marathon
Source: Marathon Digital Holdings.<\/figcaption><\/figure>\n

Argo Blockchain<\/strong><\/h2>\n

Argo Blockchain generated<\/a> 155 BTC last month (5 BTC per day). The company increased daily production by 4% compared to November, despite the rising difficulty of mining.<\/p>\n

\"Marathon
Source: Argo Blockchain.<\/figcaption><\/figure>\n

Revenue amounted to $6.6 million \u2014 25% more than the previous figure. As of December 31, the company held 9 BTC.<\/p>\n

Riot Platforms<\/strong><\/h2>\n

In December, Riot Platforms (formerly Riot Blockchain) mined<\/a> 619 BTC, a 12% increase over the previous period. For the entire year of 2023, the figure was 6,626 BTC.<\/p>\n

The company holds 7,362 BTC, having sold 590 BTC last month. Net revenue was $25.3 million (at an average price of $42,872 per coin). By the end of the month, the hash rate was estimated at 12.4 EH\/s.<\/p>\n

\"Marathon
Source: Riot Platforms.<\/figcaption><\/figure>\n
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“Riot reached new heights in 2023, mining 6,626 BTC during the year while demonstrating unique advantages of its energy strategy, receiving $71.6 million in demand response credits, equivalent to 2,480 BTC, based on the average Bitcoin price in 2023,” the release states.<\/p>\n<\/blockquote>\n

HIVE Blockchain<\/strong><\/h2>\n

HIVE Blockchain Technologies produced<\/a> 282.8 BTC (an average of 9.1 BTC per day) in the last month of the year. By the end of the month, the mining company held 1,707 BTC \u2014 80 BTC more than in November.<\/p>\n

The hash rate was 4.08 EH\/s, including the capacity of the GPU fleet.\u00a0<\/p>\n

The company also announced the appointment of Luke Rossi as Chief Operating Officer and Mario Sergi as Chief Information Officer.\u00a0<\/p>\n

In December, HIVE Blockchain announced the purchase of 7,000 Antminer S21 units from Bitmain. Delivery is expected from January to June 2024. After installation, the firm’s average energy efficiency will be 25 J\/TH, and the hash rate will be 5.8 EH\/s.<\/p>\n

Bitfarms<\/strong><\/h2>\n

Bitfarms generated<\/a> 446 BTC last month and 4,928 BTC for the entire year of 2023. By the end of December, the hash rate reached 6.5 EH\/s.<\/p>\n

\"Marathon
Source: Bitfarms.<\/figcaption><\/figure>\n

Of the 446 BTC mined, the company sold 444 BTC, earning $18.9 million. The number of bitcoins held is 804 (approximately $34.2 million as of December 31).<\/p>\n

\"Marathon
Source: Bitfarms.<\/figcaption><\/figure>\n

Bitfarms reduced its total outstanding debt by $2 million, leaving a balance of $4 million at the end of the month. The miner plans to pay this amount by February 2024.<\/p>\n

Hut 8 Mining<\/strong><\/h2>\n

In December, Hut 8 Mining mined<\/a> 453 BTC compared to 390 BTC in November. By the end of the month, the firm held 9,195 BTC.<\/p>\n

\"Marathon
Source: Hut 8 Mining.<\/figcaption><\/figure>\n

On December 31, Hut 8 Mining signed an agreement to purchase a 63 MW substation and 1.9 acres of land for approximately $7.1 million. Additionally, the company secured a lease for another 20 acres in Culberson County, Texas.<\/p>\n

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“In December, despite modest monthly changes in operational metrics, as devices were mostly temporarily offline for regular maintenance and repair, Hut 8 produced 63 more BTC than in November,” the release states.\u00a0<\/p>\n<\/blockquote>\n

\"Marathon
Source: Hut 8 Mining.<\/figcaption><\/figure>\n

By the end of the month, the total hash rate under management was 21.5 EH\/s. Hut 8 Mining’s individual figure was 7.2 EH\/s.<\/p>\n

Bit Digital<\/strong><\/h2>\n

Nasdaq-listed Bit Digital mined<\/a> 169.5 BTC in December \u2014 19% more than in November.\u00a0<\/p>\n

As of the end of the month, the firm’s hash rate was approximately 2.52 EH\/s.\u00a0<\/p>\n

Bit Digital’s treasury reserves in the first and second cryptocurrencies were valued at 642.6 BTC and 17,399.3 ETH, with a fair market value of approximately $27.2 million and $39.7 million, respectively (as of December 31). The company’s cash and equivalents totaled $16.9 million.<\/p>\n

Stock performance of mining companies over the past five days:<\/strong><\/p>\n