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Bitcoin miners like Marathon Digital, Riot Platforms, and CleanSpark have recently showcased notable growth in their Bitcoin production numbers for September. Such advancements contributed to a slight surge in their stock prices as of October 4.
Marathon Digital disclosed that their Bitcoin production for September was 1,242 BTC, marking a 16% rise from August. Interestingly, when juxtaposed with figures from September 2022, this reflects a staggering 245% uptick. This rise in Bitcoin generation was associated with Marathon's significant increase in installed hash rate, which climbed from 3.8 exahashes per second (EH/s) a year ago to the current 23.1 EH/s.
Marathon's CEO, Fred Thiel, expressed satisfaction at achieving the company's target hash rate of 23 exahashes. Additionally, Marathon conveyed its interest in seeking additional mining sites that offer affordable renewable energy. As of now, Marathon's year-to-date production for 2023 has been 8,610 BTC, with a balance sheet reflecting 13,726 BTC and cash assets of $101 million.
October 4 also saw a positive trend in Marathon's stocks, showing a rise of 3.29% and landing at $7.54, as reported by Google Finance.
Similarly, Riot Platforms revealed a 9% increase in Bitcoin production for September, clocking in at 362 BTC. Notably, Riot has been employing a unique strategy of selling pre-purchased power to its utility provider, a model that has been fruitful. Their CEO, Jason Les, mentioned that through their strategy, Riot acquired $11 million in Power Credits. Riot's hash rate currently stands at 12.5 EH/s, but the company is optimistic about enhancing this to 20.1 EH/s by 2024.
Riot’s stocks also experienced a positive trajectory, with a 3.25% rise to $9 on October 4.
Meanwhile, CleanSpark registered a production of 643 BTC in September, with a total of 6,903 BTC for their fiscal year ending September 2023. Zach Bradford, CleanSpark’s CEO, acknowledged the company's peak performance this fiscal year and credited the success to improved efficiency, favorable energy pricing, and operating at full capacity. On October 4, CleanSpark’s stock value grew by 4.61%, reaching $3.61.
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