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Marathon and Riot Miners Mined the Largest Amount of BTC in a Month

Marathon and Riot Miners Mined the Largest Amount of BTC in a Month

HappyCoinNews2024/11/06 05:55
By: HappyCoinNews
BTC+0.70%

Major mining companies Marathon Digital and Riot Platforms reported the highest monthly Bitcoin mining volume since April 2024. Recall that the next halving BTC, after which the reward for block generation was halved.

According to Marathon Digital CEO Fred Thiel, the company mined 717 BTC worth about $48,8 million in October. The company's CEO explained this figure by the hashrate growth of 14% above 40 EH/s.

Another factor that contributed to the increase in mining, Thiel said, was higher transaction fees. For example, the company's mining pool MARAPool and the private pool Slipstream helped a miner earn $400 worth of bitcoins thanks to two high-fee transfers.

Riot Platforms also reported strong results for October. During the month, the miner mined 505 BTC worth about $34,4 million. This is 22,6% more than in September. The miner attributed the growth to an increase in hashrate to 29,4 EH/s compared to 28,2 EH/s in the previous month, when the company installed new MicroBT miners at its facility in Corsicana.

Marathon and Riot Miners Mined the Largest Amount of BTC in a Month image 0

Bitcoin miners at Riot's facility in Corsicana, Texas

Despite strong monthly reports, shares of Marathon (MARA) and Riot (RIOT) fell 4% and 3,79% on Nov. 4,87, according to Google Finance data.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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