Bitcoin miners from North America are breaking new records
Bitcoin miners from North America have hit record highs in recent months. This information was shared by The Block, analyzing the activities of the largest companies: Bitfarm, Hut8, Argo, as well as Riot and Marathon.
According to analysts, listed North American mining companies have mined more than 10,500 BTC in total, of which 40% of bitcoins were received in July and August. In the last month of this summer alone, Argo, Bitfarm, Riot, Hut8, and Marathon managed to mine 1,796 BTC. This amount was slightly less than the results of July 2021, but the individual performance of the companies at the same time exceeds their production records. The Block did not include the mining firms Stronghold Digital, Core Scientific, and Greenidge Generation, since at the moment they are just preparing for listing on American stock exchanges.
Such an increase in production volumes is primarily due to a decrease in competition with China after mining in the PRC was outlawed in the spring of 2021. Another, no less important factor for the previously listed companies was the increase in their own “mining park”. This has been fueled by billions of dollars in investment in Bitcoin mining devices since the end of 2020.
The only one to see a decline in production figures in the last quarter was Bit Digital, headquartered in America, which has closed its cryptocurrency operations in China and is now moving more than 14,500 installations to North America. This was the reason for the lack of updated data on the work of Bit Digital for July and August this year.
As for the volume of bitcoins mined by other large companies (not counting Bit Digital) based in North America, as of August this year, it was 17,960 BTC. It should also be borne in mind that this amount includes 4,812 BTC, acquired by Marathon Digital at the beginning of 2021 in the secondary market. Otherwise, the previously mentioned companies have managed to increase their bitcoin fortune at least fourfold since December 31, when the amount they mined was 4176 BTC.
While Bitcoin is not feeling very confident after the recent fall, the coin has already recovered above $47,000 on Huobi and may soon test the $50,000 mark again.
Hive OS is a one-stop solution for control, monitoring, administration of your mining farms and mining pool.
Coin Shark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a risky asset, investments in it can lead to losses. Users should do their own research before taking any action.