Bitcoin
Bitcoin Miners Marathon and Riot Double Hash Rate YoY
Bitcoin (BTC) miners Digital Marathon It is Riot platforms have doubled their hash rate since June 2023 amid varying degrees of change at other companies.
About July 3rdMarathon reported an average operational hash rate of 26.3 exahashes per second (EH/s) in June, representing a 102% year-over-year increase from 13.0 EH/s. The move also marks a 2% month-over-month increase from 25.8 EH/s. The company is targeting 50 EH/s by the end of the year.
Marathon attributed the hash rate increase to operational improvements at its Ellendale facility and the fact that the site became fully operational in July.
Marathon produced 590 BTC in June, down 4% from 616 BTC in May.
The company also increased its Bitcoin holdings to 18,536 BTC, up 4% from 17,857 BTC in May. As of June 30, Marathon held $1.4 billion in total cash and Bitcoin.
Riot also doubles hash rate
About July 3rdRiot Platforms said it hit a hash rate of 22.0 EH/s in June, marking a 106% increase from 10.7 EH/s in June 2023 and a 50% increase from 14.7 EH/s in May.
The company increased its hash rate by adding 7.3 EH/s to its hash rate capacity across two buildings at its Corsicana facility. It also used available capacity at its Rockdale facility.
Bitcoin production increased slightly month-over-month: Riot generated 255 BTC in June, up 19% from 215 BTC in May. It held 9,334 BTC in June, up 3% from 9,084 BTC in May.
Other performance reports
At least two more companies have nearly doubled their hash rate over multiple periods. Clean spark recently reported that its hash rate has doubled since December 2023, while Bit Farms increased its hash rate at the end of the month from 5.3 EH/s to 10.4 EH/s year-over-year.
Some companies reported smaller increases in hash rate. Cipher Mining reported an end-of-month operational hash rate of 8.6 EH/s, up from 8.0 EH/s in May and 6.0 EH/s a year ago. The company mined 176 BTC in June, up from 166 BTC in May.
Bitdeer reported Hash rate under management of 22.3 EH/s in June, down from 22.4 EH/s in May but up from 18.8 a year ago. Bitdeer mined 179 BTC via self-mining, down from 184 BTC in May.