Coin World reports:
Marathon Digital
(NASDAQ ticker: MARA) and
Riot Blockchain
(NASDAQ ticker: RIOT) both set historic highs in Bitcoin production
Bitcoin
The reward for miners was halved in April, dropping from 6.25 BTC per block to 3.125 BTC.
In October, Marathon Digital revealed it produced 717 Bitcoins, valued at $47.7 million
Statement
This cryptocurrency mining giant attributes this achievement partly to its increased energy hash rate.
MARA’s Chairman and CEO Fred Thiel stated: “October was the best month for Bitcoin production since the halving event in April, as operational uptime remained strong and we increased our hash rate to 40.2 EH/s, a 14% increase from September.”
“Despite a slight month-over-month decrease in the number of blocks won due to the global increase in hash rate and the resulting rise in difficulty levels, BTC production grew by 2%, reaching 717 BTC.”
Higher transaction fees in October also contributed to the company’s overall output, with fees accounting for 5% of the total Bitcoin production. Marathon Digital’s mining pool, MARAPool, and its private transaction pool, Slipstream, generated $400,000 in Bitcoin through two high-fee transactions.
Meanwhile, Riot produced 505 Bitcoins in October, valued at $34.4 million, a 22.6% increase from the previous month. The company attributes this success to an increase in its hash rate.
Riot’s CEO Jason Les explained: “In October, due to the deployment of the latest generation MicroBT miners at our Corsican plant, our deployed hash rate increased to 29.4 EH/s. We are pleased with the ongoing positive operational momentum and look forward to continuing this progress.”
Nevertheless, Marathon and Riot’s stock prices fell by about 4% in the past 24 hours, and by 20% and 17% over the past five days, respectively.
