Bitcoin Miner Northern Data Says Production Increased by 315% Y/Y in 2022
According to Northern Data AG, in the fiscal year 2022, it mined a total of 2,798 BTC, a significant increase of 315% compared to the previous year. This led to BTC mining revenues of EUR 77.7 million in the fiscal year 2022. The average sale price of the 3,005 BTC mined and sold in 2022 was EUR 23,849, contributing to a cash revenue of EUR 71.7 million.
Hive Earned 184 BTC From Curtailing Its Power Use in December — That's Almost As Much As it Mined
Canadian bitcoin miner Hive Blockchain (HIVE) earned about 184 BTC ($3.1 million) by curtailing its power use in December whereas it mined the equivalent of 213.8 BTC.
Bitcoin Miner Marathon Digital Pays Off $30M Silvergate Revolving Credit
Marathon Digital (MARA) fully paid off $30 million in revolver loans during December, freeing up 3,615 bitcoin (BTC) that had been pledged as collateral, according to its monthly update.
Bitcoin Miner Marathon Closes 2022 With $103.7 Million Cash After Paying Down Debt
Bitcoin miner Marathon Digital said that it paid down its revolver borrowings last month, freeing up bitcoin held as collateral and bringing its unrestricted holdings from 4,200 to 7,815 BTC.
Bitcoin Miner Core Scientific to Unplug 37k Celsius Network Mining Rigs
Core Scientific will shut down more than 37k Bitcoin mining rigs belonging to Celsius Network as the bankrupt lender has been unable to pay its share of electricity costs incurring millions in debt.
Bitcoin Miner Riot Platforms Drops ‘Blockchain’ in Rebrand
Riot Blockchain, one of the largest bitcoin miners in the industry, is rebranding its name to Riot Platforms to reflect the company's diversified business operations, it said in a statement on Tuesday.
Challenging Year for Bitcoin Miners As Fewer BTC Mining Rigs Are Profitable at Current Prices
On December 31, 2022, statistics show that bitcoin’s hash rate is hovering above the 300 exahash per second (EH/s) range after reaching a low on December 30 at 235 EH/s. Additionally, data from macromicro.me indicates that the current cost of production ($16,577) is nearly equal to bitcoin’s current spot market value ($16,572).
Bitcoin Would Hit $100,000 and Not Even Considering Drop Below $20,000, Says Foundry Exec
Industry participants say that lots of money was spent over the last year to boost hashrate, a measure of computing power on the Bitcoin network, but that in many cases, those investments didn’t pay off, as companies loaded up on debt to finance the growth only to see the economics of crypto mining break down.
Bitcoin Miners Got Crushed by Crypto Winter. 2023 May Bring More Pain
Bitcoin miners had a rough 2022, showing “how to not build a mining business,” However, industry experts don’t see 2023 as any better, unless markets improve significantly.
