Bitcoin miners Marathon, Riot, CleanSpark increase BTC output in September

Bitcoin miners Marathon Digital, Riot Platforms, and CleanSpark recorded beardown Bitcoin accumulation increases successful September, starring to a tiny boost successful stock prices connected Oct. 4.

The firm’s equilibrium sheets besides strengthened contempt Bitcoin’s terms (BTC) signaling different period of sideways question — hovering betwixt the $25,100 and $28,500 mark.

Marathon's Bitcoin accumulation rises 245%

Bitcoin mining steadfast Marathon Digital produced a full of 1,242 BTC successful September — a 16% summation from August and a monolithic 245% summation from September 2022.

The immense spike successful BTC accumulation came from a 508% summation successful the firm’s installed hashrate from 3.8 exahashes per 2nd (EH/s) successful September 2022 to 23.1 EH/s, according to Marathon’s September results.

— Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) October 4, 2023

In the Oct. 4 statement, Marathon’s CEO Fred Thiel said the steadfast was pleased to scope its extremity of 23 exahashes connected an installed basis. The United States-based steadfast says it’s present connected the lookout for caller mining locations offering low-cost renewable energy:

“We are evaluating aggregate opportunities for our adjacent 5 exahashes of hash complaint capableness including planetary locations with low-cost renewable energy.”

Marathon says it has present produced 8,610 BTC year-to-date successful 2023. The firm's equilibrium expanse shows 13,726 unrestricted BTC and $101 cardinal successful unrestricted currency and currency equivalents connected its equilibrium expanse — totaling $471.2 million. 

The firm’s stock terms accrued 3.29% to $7.54 connected Oct. 4, according to Google Finance.

Riot Platforms ups BTC accumulation too

Meanwhile, Bitcoin miner Riot Platforms accrued its BTC accumulation by 9% month-on-month, producing 362 BTC successful September portion "strategically curtailing mining operations."

The steadfast is successful a semipermanent declaration whereby it sells pre-purchased powerfulness to its inferior supplier astatine market-driven spot prices successful speech for powerfulness curtailment credits.

— Riot Platforms, Inc. (@RiotPlatforms) October 4, 2023

Riot Platforms CEO Jason Les said the declaration has continued to supply a beardown gross root for the firm:

“By strategically curtailing mining operations, we besides received $11.0 cardinal successful Power Credits pursuant to our semipermanent powerfulness contracts with our inferior provider, and $2.5 cardinal successful Demand Response Credits from participating successful ERCOT’s ancillary services program.”

The results amusement that Riot earned much from powerfulness curtailment credits than the nett proceeds of its Bitcoin income successful August and September. 

Related: Buying Bitcoin is preferable to BTC mining successful astir circumstances — Analysis

Meanwhile, Les said Riot’s full self-mining hash complaint capableness is presently astatine 12.5 EH/s, and the steadfast expects to bolster that fig to 20.1 EH/s erstwhile the steadfast installs different 33,000 next-generation Bitcoin miners successful mid-2024.

Riot’s stock terms accrued 3.25% to $9.06 connected Oct. 4, according to information from Google Finance.

CleanSpark records its ‘best quarter’ and ‘best fiscal twelvemonth ever’

Bitcoin miner CleanSpark produced 643 BTC successful September and 6,903 BTC during its fiscal twelvemonth from Oct. 1, 2022 to Sept. 30, 2023 — making it the company’s champion show to date, according to CleanSpark’s CEO and President Zach Bradford.

“We had our champion 4th and champion fiscal twelvemonth ever," Bradford said successful an Oct. 3 statement.

We had our champion 4th and champion fiscal twelvemonth ever. Our ratio is up, our vigor costs are among the champion successful the industry, and our facilities are moving astatine max capacity. I'm particularly arrogant of our teams and leaders who, time successful and time out, show grit@CleanSpark_Inc… https://t.co/61LGL4kAKL

— Zach Bradford (@ZachKBradford) October 3, 2023

Bradford cited accrued efficiency, debased vigor costs and its facilities moving astatine max capableness arsenic 3 of the main drivers down the firm’s grounds results.

CleanSpark’s stock terms accrued 4.61% to $3.63 connected Oct. 4, according to Google Finance.

Bit Digital, which besides released results connected Oct. 4, was 1 of a fewer firms whose Bitcoin accumulation fell successful September — signaling a 7% autumn to 130.2 BTC.

In an Oct. 4 statement, the steadfast attributed the autumn to astir 600 petahashes (per second) of miners dropping offline owed to a powerfulness inferior mandated attraction outage connected Sept. 26.

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