Canadian miner Bitfarms plans to grow its mining capacity to more than 2 exahashes (EHs) per second in November after hitting a record hashrate last month, according to a SEC filing on Monday.The miner’s October bitcoin product rose 12.5% from September, due to production from its newly built, larger facility in Cowansville, Québec. The company increased its mining capacity to 1.8 exahashes.“With new miner deliveries en route and deliveries continuing throughout November, this month we expect to grow our hashrate to over 2 EH/s and improve our electrical efficiency to 44 watts per terahash,” CEO Emiliano Grodzki said in the statement.The company has mined 2,750 bitcoin so far this year and plans to achieve 3 EH/s mining power by the end of the first quarter of 2022, and 8 … [Read More...]

Argo Blockchain (NASDAQ: ARBK), the London-based miner that recently started trading on Nasdaq, achieved record revenue of $26 million in the third quarter, according to its earnings statement.The miner had record Ebitda of $26 million for the third quarter and gross margin was 120%. Meanwhile, its mining margin reached 85% during the quarter. On Oct. 7, the miner said it had a gross margin of 145% and mining margin of 86% during August.The company holds 1,836 bitcoin as of Sept. 30 and has a hashrate of 1.075 EH/s.Argo expects its previously contracted purchase of 20,000 Bitmain Antminer S19J Pro machines to be delivered starting in the second quarter of 2022, which will bring the company’s total hashrate capacity to approximately 3.7 EH/s.“I am proud of the … [Read More...]

Mawson Infrastructure Group has listed an Australian crypto mining exchange-traded fund (ETF) that includes Galaxy Digital and Hut 8 mining, among other companies.The provider of diversified digital infrastructure services said Monday the ETF, which will be the first product offered by its Cosmos Asset Management unit, will be named Cosmos Global Digital Miners Access ETF, under the code “DIGA.CXA.” The ETF will track the performance of the Global Digital Miners Index, which is managed by Standard & Poor’s, according to a statement. The press release didn’t specify when the ETF will start trading.The ETF’s top three holdings will be Galaxy Digital with a 20% allocation within the fund, while Hut 8 and Marathon Digital will both have a 14% weighting, according to the Cosmos … [Read More...]

With bitcoin rallying above $55,000 for the first time since May, cryptocurrency miners are holding onto their newly minted currencies to bolster their balance sheets.Recent monthly production updates from crypto miners such as Riot Blockchain and Marathon Digital Holdings show that they have kept their mined bitcoins during September, when prices hovered around $40,000.Riot Blockhain, the Castle Rock, Colo.-based miner, said in a statement Wednesday that as of Sept. 30, it holds 3,534 bitcoins, an increase of 406 bitcoins from August. Riot’s share price rose as much as 6.5% on Wednesday, before paring gains to close the trading session up about 1%.Read more: Crypto Miners Marathon Digital, Hut 8 Rally as Bitcoin Tops $50,000Meanwhile, Riot’s competitor, Marathon Digital Holdings, said on Oct. 4 that it now holds 7,035 … [Read More...]

The shares of cryptocurrency miners Marathon Digital Holdings, Inc. and Hut 8 Mining Corp. surged Tuesday as bitcoin’s price reached $50,000 for first time since early September.The stocks, which often move in tandem with the largest cryptocurrency’s price, have steadily advanced since hitting lows in September, when prices for bitcoin slumped to near $40,000.Marathon Digital rose 6.2% and Hut 8 Mining advanced 4.5%, leading gains in the sector. Bitfarms Ltd. climbed 4.2%, Hive Blockchain Technologies Ltd. was up 2.5% and Riot Blockchain, Inc. increased 2% in U.S. trading. The Canadian-listed miner Galaxy Digital Holdings Ltd. gained 2.3%.A key gauge of bitcoin mining activity, the hashrate, has recovered from a steep plunge in early July, when China began a sweeping crackdown on the crypto industry. … [Read More...]