July Mining Updates: Marathon, CleanSpark, Iris, Hive, Bitfarms, Core Scientific & More

CleanSpark and Marathon Digital switched on significant hash rate in July.

July Mining Updates: Marathon, CleanSpark, Iris, Hive, Bitfarms, Core Scientific & More
Source: Compass Mining publicly listed miners report.
  • "The month of July saw the price of Bitcoin fall by 4% to $29,230 and the mining difficulty increased by 1.4% to achieve another record level.  Due to the hot summer temperatures the North American Bitcoin miners were also forced to curtail their energy and switch off their machines."
  • "On a positive note, the month’s big news story was Marathon Digital (MARA) becoming the World's largest publicly listed Bitcoin self- miner. Having already achieved 17.7 EH/s in the previous month, the company continued to energize miners and reported an increased energized hash rate of 18.8 EH/s for the month of July, an increase of 169% year-to-date, overtaking Core Scientific (CORZQ) self mined hash rate."
Source: Compass Mining.

Argo Blockchain

  • "Argo Blockchain mined 129 Bitcoin in the month of July at the rate of 4.1 Bitcoin per day, a reduction of 11.6% on the average daily rate achieved in June."
  • "The company sold 127 Bitcoin in the month, to cover operational and capital costs, adding 2 coins to its new Bitcoin hodl of 46."
  • "The company installed and energized 1,242 BlockMiner machines, in the month of July at its facilities in Quebec.  This increase of 130 PH/s brings their total hashrate capacity to approximately 2.6 EH/s."

Bit Digital

  • "Bit Digital produced 133 Bitcoin in July, at a rate of 4.3 Bitcoin per day, 8% higher than the daily rate achieved in the previous month.  This was actually achieved without increasing the operational hash rate for the month of 1.78 EH/s."
  • "The company currently has healthy treasury holdings of 677 Bitcoin and 12,167 Ethereum providing a total fair market value of $42.4 million, along with $21.9 million in cash and cash equivalents as at July 31, 2023."


  • "In July Bitfarms mined 378 Bitcoin at a daily rate 12.2 Bitcoin per day, a reduction of 5% on the average daily rate achieved in June, and providing $11 million in revenues for the month with the Bitcoin price closing price of $29,200."
  • "Bitfarms sold 333 Bitcoin, providing revenues of $9.9 million, during the month, adding 45 Bitcoin to its treasury and increasing its hodl to 594 Bitcoin."


  • "As at July 31, 2023 the company has 9.0 EH/s operating hash rate, an increase of nearly 35% on the June total, and is now well on the way to achieving their year end target of 16 EH/s, all of which has been achieved in the space of 2 and a half years."
  • "In July, CleanSpark mined 575 Bitcoin, taking their year-to-date total production to 4,070 Bitcoin, at a daily rate 18.5 per day, an increase of 13.3% on the previous month due to the increased average operational hash rate capacity of 7.6 EH/s achieving a hash rate utilization of 99%. "
  • "They sold just 43 Bitcoin and increased their hodl by 100% in the month to 1,061 Bitcoin."

DMG Blockchain

  • "DMG Blockchain mined 45.7 Bitcoin in July, at an average rate of 1.5 Bitcoin per day, a reduction of 15.9 % on the average achieved in June."
  • "The company sold 33 Bitcoin during the month adding 12 coins to their current Bitcoin Hodl of 522 Bitcoin."

Hive Digital Technologies

  • "Hive Digital mined 251 Bitcoin during the month from their ASIC machines and a further 8.1 Bitcoin from their GPUs, providing a daily average of 8.1 Bitcoin per day, a reduction of 1.3% on the daily average achieved in the month of June."
  • "The company increased their Bitcoin mining operational hash rate to 3.47 EH/s during the month and are still expecting to achieve their year end hash rate goal of 6.0 EH/s"
  • "Hive Digital sold 70% of their monthly production adding 75 Bitcoin to its current total hodl of 2,032 Bitcoin valued at $59.4 million as at July 31, 2023."

Iris Energy

  • "Iris Energy produced 423 Bitcoin in the month of July at a daily rate of 13.6 Bitcoin per day, a drop of 4.4% in the average daily rate achieved in June.  This was achieved with an average operational hash rate of 5.56 EH/s and a utilization rate of 99%."
  • "The company continues to sell their Bitcoin on a daily basis achieving $12.66 million in revenues to pay for operational and capital expenditure."

Marathon Digital

  • Marahon now now has "the world’s highest self-mining hash rate for a listed miner and had a good month in July, producing 1,176 Bitcoin at a daily rate of 37.9 Bitcoin per day, an increase of 16.2% on the daily rate achieved in June."
  • "By the end of the month the company’s installed hash rate had increased to 22.8 EH/s, of which, 18.8 EH/s was fully energized. The company announced on August 8, 2023 that they have reached their planned installed hash target of 23 EH/s."
"Marathon Digital provided an update on the joint venture in Abu Dhabi which actually started production in July, producing 16.8 Bitcoin of which the company’s 20% share represents 3.4 Bitcoin.  The hash rate at the end of July is now 1.2 EH/s with plans to grow to 7.0 EH/s by the end of the year."

Riot Platforms

  • "Riot Platforms had a challenging month in terms of operational performance, producing 410 Bitcoin at an average of 13.2 Bitcoin per day, a reduction of 13.7% on the average achieved in June. This was due to the high temperatures in Texas, causing power costs to fluctuate."
  • "The company continued to utilize its power strategy, which enabled the team to navigate these sharp increases in power and generate $6.4 million in power credits with a further $1.8 million in demand response credits."
  • "With the operational hash rate during the month at 10.7 EH/s, the company announced that the replacement dry coolers for Building G have already begun shipping."

SATO Technologies

  • "The company mined 37 Bitcoin at an average rate of 1.2 Bitcoin per day, a reduction of 8.2% on the average achieved in June.  The current operational hash rate for the month totalled 0.5 EH/s which was slightly lower than June, caused by the extreme weather and storms affecting the Mining Center One."
  • "SATO Technologies sold 6 Bitcoin to cover their operational and capital costs during the month and increased their hodl to 43 Bitcoin with a value of $1.3 million."


  • "In July 2023, the company produced 330 self-mined Bitcoin at an average daily rate of 10.6 Bitcoin per day, a reduction of 8% on the previous month."
Source: Compass Mining.

Hut 8

  • "116 Bitcoin were generated, resulting in an average production rate of approximately 3.7 Bitcoin per day."
  • "100 Bitcoin – 50 Bitcoin produced in June and 50 Bitcoin produced in July – were sold during the month for proceeds totaling $3.9 million."
  • "Total balance of Bitcoin in reserve was 9,152 on July 31 – 8,305 of which was unencumbered."

Core Scientific

  • "As of month-end, Core Scientific operated approximately 210,000 bitcoin miners for both colocation and self-mining, representing a total potential hash rate of 22.2 EH/s at its data center facilities in Georgia, Kentucky, North Carolina, North Dakota and Texas."
  • "Core Scientific’s self-mining operations produced 1,022 bitcoin in July, including 22.9 bitcoin in transaction fees. As of month end, the Company operated approximately 145,000 of its own bitcoin miners, accounting for approximately 69% of its total number of miners and representing a total potential self-mining hash rate of 15.2 EH/s."
  • "In addition to its self-mining fleet, Core Scientific provided data center colocation services, technology and operating support for approximately 64,000 customer-owned bitcoin miners, representing approximately 31% of the bitcoin miners operating in the Company’s data centers as of July 31. Customer-owned bitcoin miners produced approximately 493 bitcoin in July."

Cipher Mining

  • "Cipher produced ~418 BTC in July, representing a ~16% increase in production relative to the previous month. As part of its regular treasury management process, Cipher sold ~318 BTC in July, ending the month with a balance of ~518 BTC."

Stronghold Q2 Update

  • "Stronghold mined 626 Bitcoin during the second quarter of 2023, which represents approximately 43% growth compared to the fourth quarter of 2022 and 1% sequential growth compared to the first quarter of 2023, despite Bitcoin network hash rate growth of 39% and 23% during the same periods, respectively."
  • "We now expect to achieve hash rate capacity of 4 EH/s by September 1, 2023, which is one month earlier than our previous guidance and four months earlier than our guidance provided on March 29, 2023."

Compass Report (8 publicly listed miners) / Archive
Hut 8 Update / Archive
Core Scientific Update / Archive
Cipher Mining Update / Archive
Stronghold Update / Archive