Stronghold Digital Mining reported a 47.1% decline in its month-to-month Bitcoin mining output in Could.
The agency mined 82 BTC throughout the first full month following the halving, in comparison with 155 BTC in April.
In the meantime, revenues for the month got here in at $5.2 million, a 46% drop from the earlier month.
Stronghold explicitly attributed the drop to the halving. The agency mentioned:
“The first driver of the decline was as a result of first full month of post-halving operations.”
The corporate additionally reported a mean hash worth of $0.052 per TH/s in Could, down from 0.095 in April. It attributed the change to the halving and diminished block rewards, a 0.8% decline in Bitcoin’s worth, and transaction charges falling to 7.4% in Could from 25.3% in April.
It noticed a community hash price of 1.2%, partially offsetting the development.
Decline in manufacturing throughout the board
Equally, Cipher Mining reported that it mined 166 BTC in Could versus 296 BTC in April, representing a 43.9% month-over-month drop.
The corporate acknowledged the affect of Bitcoin’s halving however emphasised that it maintained optimistic money flows and expanded its stock and operation websites.
Marathon Digital fared somewhat higher, reporting that it produced 616 BTC in Could, down 27.5% from 850 BTC in April. The corporate mentioned it mitigated the discount by growing the variety of mining blocks it received in Could to 170 — up from 129 blocks in April.
Marathon mentioned it held 17,857 BTC on the finish of Could and offered 390 BTC over Could. It reported an energized hash price of 29.3 EH/s and an put in hash price of 30.6 EH/s.
SCleanspark, Riot Platforms, and Bitfarms additionally reported related declines of their BTC output fell
The Bitcoin halving occurred on April 20, 2024, decreasing block rewards from 6.250 to three.125. The occasion has additionally impacted miner issue.
Talked about on this article
Mike Dalton
Earlier than transitioning to crypto writing in 2018, Mike studied library and knowledge sciences. At present, he resides on Canada’s West Coast.
Assad Jafri
AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his expertise worldwide for over a decade. Specializing in monetary journalism, he now focuses on crypto reporting.
