February 2024: Key Highlights in Cryptocurrency Mining
Date: 2024-03-04 Author: Dima Zakharov Categories: IN WORLD
Hut 8's Bitcoin Holdings and Strategic Partnerships
In February 2024, Hut 8, a prominent player in cryptocurrency mining, revealed its January operations report. Holding a staggering 9,116 bitcoins, the company also announced a strategic partnership with Ionic Digital, aiming to enhance its hash rate by over 12 EH/s and its infrastructure by 300 MW.
Bitdeer's Impressive Bitcoin Mining Output
Bitdeer marked a significant milestone by mining 330 BTC in January, witnessing a remarkable 123% increase compared to the previous year. Plans are underway for constructing a data processing center in Ohio, USA, boasting a power capacity of 221 MW, slated for completion by 2025.
Marathon's Operations and Financial Maneuvers
Marathon disclosed its January 2024 Bitcoin mining operations, reporting the acquisition of 1,084 BTC, albeit experiencing a 42% decrease in output. Additionally, it plans to pay Hut 8 a $13.5 million fee to terminate a service contract.
Technological Advancements in Mining Equipment
Texas-based miner Riot amassed nearly $560 million in funding over the last four months to procure WhatsMiners MicroBT. Meanwhile, Bitmain introduced ANTMINER KASPA: KS5 Pro and KS5, promising hash rates of up to 21T and 20T respectively, with energy efficiency at 150 J/TH.
Key Financial Figures and Strategic Moves
Core Scientific revealed its impressive mining results for 2023, harvesting 19,274 BTC, the highest among North American mining firms. Marathon Digital Holdings reported a 210% surge in BTC production, reaching a record-breaking 12,852 coins, alongside a net profit increase to $261.2 million.
Mining Difficulty Adjustment and Blockchain Statistics
On March 1st, 2024, Bitcoin's mining difficulty adjusted at block height 832,608, dropping by 2.9% to 79.35 T, with an average hash rate of 608.59 EH/s. Block generation time now stands at 9 minutes and 20 seconds.
