May 2023 Mining Ops Updates: Riot, Marathon, Core Scientific, Cipher, Stronghold, CleanSpark & More
May was a positive month for many Bitcoin miners despite growing mining difficulty, as businesses were boosted by elevated network fee market and growing hashing capabilities.
![May 2023 Mining Ops Updates: Riot, Marathon, Core Scientific, Cipher, Stronghold, CleanSpark & More](/content/images/size/w1200/2023/06/bitcoin-miner-antminer-hardware.jpg)
Below are the latest mining operations updates (unaudited) shared by the respective companies.
Riot Platforms
![](https://www.nobsbitcoin.com/content/images/2023/06/image-10.png)
- Mined 676 BTC during the month, sold 600 at an average price of $27,568.
- Generated $2.4 million in demand response revenue.
- Ended the month with a hash rate capacity of 10.6 EH/s.
- Increased total bitcoin holdings to 7190 BTC.
Marathon Digital Holdings
![](https://www.nobsbitcoin.com/content/images/2023/06/image-11.png)
- Produced a record 1245 BTC, with 4141 BTC mined YTD.
- Sold 554 BTC in May.
- Increased operational hash rate to 15.2 EH/s.
- Reported unrestricted bitcoin holdings of 12259 BTC, unrestricted cash holdings of $97.3 million.
![](https://www.nobsbitcoin.com/content/images/2023/06/image-12.png)
Stronghold Digital Mining
- Mined approximately 220 BTC, up 23% from 179 BTC mined in April.
- Achieved a hash rate of 3 EH/s.
Cipher Mining
![](https://www.nobsbitcoin.com/content/images/2023/06/image-13.png)
- Mined a record 493 BTC, which represents a 21% increase since April.
- Ended May with an operating hash rate capacity of 6 EH/s.
- Sold 513 BTC, still holds 407 BTC.
Argo Blockchain
- Mined a total of 173 BTC, a 16% increase compared with previous month.
- As of 31 May 2023, the Company held 50 BTC, which is a decrease from 83 BTC held at the end of April.
- The Company's total hash rate capacity continues to be 2.5 EH/s.
TeraWulf
![](https://www.nobsbitcoin.com/content/images/2023/06/image-14.png)
- Mined 323 BTC in May, a 35% increase over April, for a total of 1,094 BTC mined YTD.
- Increased hash rate capacity by over 13% month-over-month to 4.4 EH/s.
CleanSpark
- Mined a total of 609 BTC in May, 3,004 BTC mined in 2023 so far.
- Sold 471 BTC at an average of approximately $27,400 per BTC.
- Still held 451 BTC as of May 31.
- Currently deployed fleet of about 67,196 latest-generation bitcoin miners with a hashrate of 6.7 EH/s.
Bitfarms
![](https://www.nobsbitcoin.com/content/images/2023/06/image-16.png)
- Production increased to 459 BTC, up 21.1% from April.
- "Mining 459 BTC and selling 414 BTC, we added 45 BTC to treasury in May, bringing the total held at month-end to 510 BTC."
- Ended month with 5 EH/s of operating hash rate.
![](https://www.nobsbitcoin.com/content/images/2023/06/image-15.png)
Iris Energy
![](https://www.nobsbitcoin.com/content/images/2023/06/image-17.png)
- Mined 508 BTC in May, +59% compared with April.
- Reached monthly operating revenue of $13.5 million (+50% vs. April).
- Increased average operating hashrate by 39% to 5.5 EH/s.
![](https://www.nobsbitcoin.com/content/images/2023/06/image-18.png)
Core Scientific
- Produced 1,314 self-mined bitcoin and 586 bitcoin for colocation customers.
- The company reported a total potential self-mining hash rate of 14.9 EH/s. Including colocation, it reaches a total potential hash rate of 22.1 EH/s.
Bit Digital
- In May 2023, the Company produced 113.2 BTC, a 31% increase compared to the prior month.
- The company’s active hash rate was approximately 1.20 EH/s as of May 31, 2023.
- Treasury holdings of BTC and ETH were 453.6 and 10,996 with a fair market value of approximately $12.3 million and $20.6 million, respectively, on May 31, 2023.