Bitcoin Mining Production Roundup: April

In this new monthly roundup, The Block has collected information about the production, growth efforts and other activities of some of the world’s publicly traded Bitcoin miners.

Beehive

The company produced 268.8 bitcoins in April and increased its hash rate by 8%, from 2.0 EH/s of bitcoin mining at the beginning of the month to 2.15 EH/s at the end of the month.

It also generated 2,537 ETH, with the allotted hash rate increasing from 6.1 to 6.26 terahash per second (TH/s) during the month of April.

Hive is in line with its HODL strategy as of May, holding 2,832 BTC and 15,914 ETH.

Hive said it “continued its strong momentum in expanding retail capacity” and was able to increase retail through “continuous improvements and electrical upgrades.”

cottage 8

In April, Hut 8 produced 309 BTC – 15% of which was derived from mining Ethereum, which is paid for in Bitcoin.

“As the unusual weather has increased energy demand from residents and businesses, we have reduced our consumption to ensure a steady supply on the grid,” the company said in a statement, adding that it has also limited consumption at its Drumheller facility due to higher electricity prices. .

As of April 30, the company held a total of 6,769 BTC as part of its strategy.

Hut 8 announced in April that by the end of the month it will be It no longer hosts miners and become a fully self-sufficient mining company.

CleanSpark

During the month of April, CleanSpark mined 313 BTC and transferred a total of 285 BTC to fund its growth and operation. As of April 30, he owns 448 BTC.

CleanSpark’s total hash rate is 2.4 EH/s, powered by a fleet of 24,000 “latest generation” bitcoin miners.

The company brought in nearly $11.9 million from the sale of bitcoin in April, most of which was invested in the Norcross facility.

Bitfarms

After exceeding 3 hours in early April, the company reached 3.3 EH/s by the end of the month, due to start operations at Leger, its ninth facility, located in Quebec, Canada. This represents a 22% increase from 2.7 EH/sec at the end of March.

“We continue on track to complete Leger construction in May, as well as phase two construction at The Bunker in June,” said Bitfarms CEO Emiliano Grodzki.

In total, Bitfarmed has mined 405 bitcoins in the last month. As of April 30, it owned 5,646 BTC, worth about $217 million, according to the company’s announcement.

The company also introduced a revamped miner management system that has been in the works for nine months, improving its ability to manage and track miners.

marathon

Marathon also saw a 30% drop in bitcoin production in April compared to the previous month, due to “maintenance issues” that caused their facilities in Montana to operate below normal levels.

Overall, the company said it remains on track to meet its previously announced goal of reaching 23.3 exahhashes per second (Hh/s) in early 2023.

In April, 4,183 miners – representing 0.4 EH/s – were installed at a facility in Texas operated by partner Marathon Compute North. They were supposed to be up and running from April 17, which would have raised the hash rate by 11% but that was pushed back until May due to a demand from the power provider.

In the first quarter earnings announcement, Wednesday, Marathon also A net loss of $13 milliondespite reaching a “record” level of bitcoin production.

Iris Energy

Iris Energy mined a total of 137 BTC in April, an increase of 13% over the previous month.

The Australia-based company raised its average operating hash rate to 1,038 xtra/sec. Monthly operating revenue increased 6% to $5.4 million.

It’s costing 0.3 EH/s ahead of schedule at its facility in Mackenzie, Canada, with a goal of 1.5 EH/s (the equivalent of 50 megawatts) in the initial phase.

The company also launched groundbreaking at a new facility in Texas in April.

Northern data

In April, Northern Data mined 324 BTC (13% monthly increase) and 4,583 ETH, a 9% drop justified by “planned inventory maintenance.”

As of Thursday, the company owns approximately 1,390 ETH and 39,800 ETH, valued at approximately 153 million euros.

By the end of April, the company had a fleet of 44,900 miners and hashes of 4.07 EH/s. It plans to reach a total of 100,000 miners, equivalent to 9.3 EH/s, by the end of the year.

gemstone mining

GEM Mining produced 244.8 BTC during April, down 3.2% from the previous month.

However, the company increased its hash rate from 1.85 EH/s in March to 1.88 EH/s in April. By the end of the month, his total was 19,175 miners.

The company also reported revenue of $10.15 million in April, down 4.3% from March.

John Warren, CEO of GEM Mining, said April’s results were the second best in the company’s history.

“We will continue to build on this success as we bring in an additional 13,000 fully funded and hosted machines online by the end of 2022,” he said.

© 2022 The Block Crypto, Inc. all rights are save. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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