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.
Below are the latest mining operations updates (unaudited) shared by the respective companies.
Riot Platforms
- 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
- 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.
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
- 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
- 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
- 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.
Iris Energy
- 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.
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.
