As a seasoned analyst with over two decades of experience in the tech and finance sectors, I find it fascinating to observe the rapid growth and competition within the Bitcoin mining industry. Riot Platforms’ impressive 23% increase in Bitcoin production for October is a testament to their operational efficiency and strategic deployment of resources. The addition of MicroBT miners at their Corsicana Facility seems to have played a significant role in this growth.
Riot Platforms reported a 23% increase in total Bitcoin mined in October.
On November 4th, a major player in Bitcoin mining and digital infrastructure revealed that they had mined approximately 505 Bitcoins during the month of October, making this one of their most productive months in the industry.
As a crypto investor, I’ve noticed an impressive surge in Riot’s Bitcoin production compared to last month. They mined 412 bitcoins, which represents a substantial 23% increase and the highest monthly output since the 2024 halving. Additionally, their daily mining average has risen significantly from 13.7 BTC to a robust 16.8 BTC now. This growth is certainly noteworthy!
As stated by Jason Les, the CEO of Riot, the rise in production is a result of both an expansion in the company’s operational efficiency and an increase in its deployed hashrate. In October, Riot’s deployed hashrate surged to 29.4 exahashes per second, up from 28.2 EH/s in September.
Deploying the newest MicroBT miners at Riot’s Corsicana Facility boosted the hash rate, as observed by Les.
Riot had amassed a total of 10,928 Bitcoins by the end of October, which was an increase from the 10,427 they held the month before. Remarkably, they hadn’t offloaded any Bitcoin during the last two months.
During the same timeframe, Riot saw a 23% boost in production, but CleanSpark surpassed that with a 32% jump, as stated in their announcement. According to this statement, CleanSpark mined approximately 655 Bitcoins in October alone.
The miner’s hashrate at the end of October reached 31.3 EH/s, with total BTC holdings at 8,701.
As a crypto investor, I’m thrilled to reflect on another outstanding operational month, marked by the successful acquisition of GRIID Infrastructure Inc. This strategic move not only brings fresh talent to our team but also adds a power-rich pipeline sourced from the Tennessee Valley Authority (TVA). With this new asset, we anticipate our capacity in Tennessee will surge beyond 400 MW. Exciting times ahead!
Zach Bradford, chief executive officer of CleanSpark.
CleanSpark finalized the acquisition of GRIID Infrastructure on October 30, 2024.
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2024-11-04 19:46