At the beginning of September, mining companies reported their results for the previous month. ForkLog compiled the key data in one article.

MARA (formerly Marathon Digital)
In August, MARA mined 673 BTC, a 3% decrease compared to July.

Майнеры отчитались о снижении добычи биткоина в августе

“Inside [the U.S.], we continue to improve the operation of our facilities and are on track to reach our target of 50 EH/s by the end of 2024. During the month, we connected nearly 18 immersion containers in Granbury, Texas. We are transitioning the majority of this data center from air cooling to MARA immersion containers and plan to install at least 30 more in September,” said company CEO Fred Thiel.

Currently, the miner operates approximately 54% of its 1.1 GW capacity.

As of August 31, 2024, MARA held 25,945 BTC. The firm decided not to sell any assets this month.

Previously, the company announced its intention to raise $250 million to purchase Bitcoin through convertible bonds.

Argo Blockchain
In August, Argo Blockchain generated 38 BTC (1.2 BTC per day). Mining revenue amounted to $2.3 million, compared to $3 million in July.

“Bitcoin production decreased due to more frequent economic downturns throughout the month and a lower hash price,” stated the press release.

As of July 31, Argo Blockchain held digital assets worth approximately 10 BTC.

Riot Platforms
In August, Riot Platforms mined 322 BTC, a 13% decrease from July and a 3% decrease compared to August 2023.

“Historically, August is the hottest month of the year in Texas, which leads to some of the highest periods of demand on the power grid,” said Jason Les, CEO of the company.

By the end of 2024, Riot expects to increase its hash rate to 36 EH/s. The company is also completing the construction of a new 100 MW facility.

In August, the miner continued its hostile acquisition of Bitfarms, purchasing another 1 million shares of the competitor, increasing its stake to 18.9%.

HIVE Blockchain
As of August 31, 2024, HIVE Blockchain Technologies held 2,567 BTC, worth $151 million. The previous month’s balance was 2,533 BTC (~$164 million).

Aydin Kilic, CEO of HIVE, reported ongoing optimization of their fleet, predicting an increase in hash rate to 13.5 EH/s after the launch of a Bitcoin farm in Paraguay, which was announced at the end of July.

Bitfarms
In August, Bitfarms mined 233 BTC, down from 253 BTC in July (-8.5%). As of the end of the month, the hash rate was 11.3 EH/s.

“The acquisition of Stronghold Digital Mining marks an important step for Bitfarms, strengthening our position as a dominant player in the mining and computing sectors […]. Additionally, we are preparing for multi-year growth to 1.6 GW, about 66% of which will be located in the U.S., a significant increase compared to the current 6%,” said Ben Gagnon, CEO of Bitfarms.

The company sold 147 BTC, receiving $8.8 million. As of August 31, it held 1,016 BTC (~$65.1 million).

In August, Bitfarms reported performance issues with approximately 3,000 new Antminer T21 units from Bitmain, which were expected to provide about 0.7 EH/s. The miners overheat even at relatively low temperatures, although other devices in the series operate normally.

Hut 8 Mining
In August, Hut 8 Mining mined 87 BTC, compared to 105 BTC in June. At the end of the month, the company held 9,105 BTC.

The total hash rate under management was 13.9 EH/s, with 5.6 EH/s being proprietary.

Bit Digital
Bit Digital generated 53.4 BTC in August, an 11.7% decrease compared to the previous period.

As of the end of the month, the company’s hash rate was approximately 2.43 EH/s. Bit Digital reported 682.4 BTC and 27,331 ETH in treasury reserves, with a fair market value of approximately $40.2 million and $68.7 million, respectively (as of August 31). The company’s cash and cash equivalents amounted to $106.9 million.

Mining Companies’ Stock Performance (as of September 14, 2024):

Marathon Digital Holdings (MARA): +16.8%
Argo Blockchain (ARBK): +6.36%
Riot Blockchain (RIOT): +9.42%
HIVE Blockchain (HIVE): +13.65%
Bitfarms (BITF): +10.27%
Bit Digital (BTBT): +12.77%

It’s worth noting that on September 11, due to the latest recalculation, the difficulty of Bitcoin mining increased by 3.58%, reaching a historical maximum of 92.67 T.