March 2023 Bitcoin Mining Operational Updates: Riot, CleanSpark, Marathon, Cipher, Bitfarms, Argo, TeraWulf, Stronghold

These mining companies have published their operational updates for March 2023.

March 2023 Bitcoin Mining Operational Updates: Riot, CleanSpark, Marathon, Cipher, Bitfarms, Argo, TeraWulf, Stronghold

Riot Blockchain

  • Riot produced 695 BTC, an increase of approximately 36% as compared to March 2022 production of 511 BTC.
  • Riot held approximately 7,072 BTC as of March 31, 2023, all produced by the Company’s self-mining operations.
  • Riot sold 675 BTC, generating net proceeds of approximately $16.7 million.
  • Riot had a deployed fleet of 94,176 miners, with a hash rate capacity of 10.5 exahash per second (“EH/s”), as of March 31, 2023, which excludes 17,040 miners that are offline as a result of damage to Building G from the severe winter weather in late December in Texas.

Press Release
Archive

CleanSpark

  • Company mined 598 bitcoin in the month; ends the first quarter of the calendar year with 1,871 bitcoin mined, up 22% from the prior quarter; 50MW Washington expansion on schedule.
  • Total BTC holdings as of March 31: 196.
  • Total BTC converted for operations and growth in March: 502.
  • Currently deployed fleet of about 67,700 latest-generation bitcoin miners with a hashrate of 6.7 EH/s.

Press Release
Archive

Marathon Digital Holdings

  • Produced company's record 825 BTC in March, and a record 2,185 BTC in Q1 2023.
  • Increased Hash Rate 64% in Q1 2023 to 11.5 EH/s as of March 31, 2023
  • Reports Unrestricted Cash and Cash Equivalents of $124.9 Million and Increased Unrestricted Bitcoin Holdings to 11,466 BTC (c. $326.5 Million) as of March 31, 2023.

Press Release
Archive

Cipher Mining

  • "During the month of March, Cipher expanded operations at its Odessa facility while funding both operating expenses and capital expenditures through ongoing operations. Cipher finished March with the potential to mine nearly 16 bitcoin per day."

Press Release
Archive

Bitfarms

  • “During the month, we mined 424 BTC, added 30 BTC to treasury, and sold 394 BTC at an average selling price of $24,700 per BTC, in line with improving mining economics and lower debt obligations."
  • "We ended March with $29 million in cash and equivalents, 435 BTC in custody, $22 million in vendor credits, and just $21 million in total indebtedness.”

Press Release
Archive

Argo Blockchain

  • "Argo Blockchain plc is pleased to announce the appointment of Jim MacCallum as Chief Financial Officer."
  • "Argo mined 161 Bitcoin or Bitcoin Equivalents (together, BTC), or 5.2 BTC per day. This is a decrease of 10% over the 5.7 BTC per day produced in February 2023. The primary driver of the decrease in daily BTC production was the increase in network difficulty. In March, the average network difficulty was 11% higher than in February."
  • "As of 31 March 2023, the Company held 85 Bitcoin or Bitcoin Equivalents."
  • "The Company's total hashrate capacity continues to be 2.5 EH/s."

Press Release
Archive

TeraWulf - 2022 and Q4 Update

  • "Built 110 MW of mining infrastructure, with another 50 MW targeted in Q2 2023."
  • "Exited 2022 with 18,000 deployed miners with 2.0 EH/s of hash rate capacity."
  • "Self-mined 524 Bitcoin in 2022 and 810 Bitcoin since inception through February 2023."
  • "Expects to nearly triple hash rate to 5.5 EH/s and 160 MW at existing sites in Q2 2023."
  • "Reiterates targeted blended cost of power of $0.035 per kilowatt hour across its two sites."

    Press Release
    Archive

Stronghold Digital Mining 2022 and Q4 Update

  • "Stronghold generated an estimated $23 million of revenue, an estimated $48 million of net loss, and an estimated $5 million of adjusted EBITDA (see reconciliation of non-GAAP financial measures) during the fourth quarter of 2022."
  • "Revenue comprised an estimated $14 million from the sale of energy, an estimated $8 million from cryptocurrency mining, and an estimated $1 million from capacity sales during the quarter."

Press Release
Archive