Marathon Digital and Riot Platforms have reported a significant recovery in Bitcoin mining, achieving their highest monthly outputs since the April halving.
Marathon mined 717 Bitcoin in October, valued at approximately $48.8 million, thanks to a 14% increase in hashrate to over 40 exahashes per second and higher transaction fees contributing about 5% to production.
Despite a 3% decline in block wins due to increased network difficulty, Marathon’s results indicate a solid rebound.
Riot Platforms also saw a boost, mining 505 Bitcoin worth around $34.4 million, marking a 22.6% month-on-month increase attributed to a rise in hashrate to 29.4 EH/s following the installation of new miners.
However, both companies faced stock declines on November 4, with Marathon shares dropping 3.79% and Riot shares falling 4.87%.
Looking ahead, Riot aims for a hashrate of 34.9 EH/s by the end of 2024, while Marathon targets 50 EH/s by 2025.
A major Bitcoin investor has placed a high-stakes bet on a short-term price drop, committing hundreds of millions of dollars just as a crucial week of economic reports looms.
21Shares has decided to shut down its Bitcoin and Ethereum futures ETFs, with liquidation expected to take place by March 28.
On Friday, Bitcoin’s price surged toward the $84,000 level, briefly surpassing $85,000, lifting the spirits of the crypto community.
Binance Research, the investigative branch of the leading cryptocurrency exchange, has released an insightful new study about Bitcoin (BTC).