Bitfarms said it mined 387 BTC in February, for a total of more than 20,000 BTC, and paid off two miner financing agreements in February, reducing principal and interest payments by $22.3 million to just $7.9 million, reducing debt by 86% to just $22.7 million.
Bitcoin miner Marathon Digital released its February Bitcoin production and mining operations update, with the miner producing 683 BTC in February and 1,370 BTC so far this quarter. 650 BTC were sold by the miner in February, resulting in a total of 11,392 held by Marathon, with unrestricted Bitcoin holdings increasing to $219.7 million from 8,090 on January 31, 2023. 31, 2023 to 8,260, and its unrestricted cash increased to $219.7 million. 188,000 miners were running in February, and the hash rate increased by 30%.
Riot, one of the largest mining companies in North America, released its full year 2022 financial results, announcing that it had approximately $230 million in cash, no long-term debt and 6,974 bitcoins at the end of 2022. It reported a net loss of $509.6 million, which included a $335.6 million impairment of goodwill related to Whinstone and ESS, a $147.4 million impairment of cryptocurrency holdings and a $55.5 million impairment of mining machines. However, due to an accounting error in calculating the impairment of its bitcoin assets, Riot said it will delay filing its financial statements with the SEC and will file and revise the relevant data within 15 days.
Bitcoin miner CleanSpark says it has produced 1,273 bitcoins so far this year after selling a total of 576 in February. Of that total, 778 bitcoins were sold in February at an average price of $23,000, for $17.9 million. As of February 28th, CleanSpark held 100 bitcoins with a total hashrate of 6.6EH/s.
HIVE produced 250 Bitcoin in the month of February, from ASIC and GPU mining operations, representing an average of 91 Bitcoin Per EH, with an average hashrate of 2.75 EH/s for the month of February 2023.
As of March 3, HIVE held a total of 2,365 BTC with a market cap of over $56 million, and sold 267.7 BTC in February for net proceeds of $6.6 million.
HIVE has installed over 4,200 BuzzMiners to date. HIVE has received over 5,600 Buzzminers in its data centers and continues to install them to increase overall hashrate. HIVE expects to receive an additional 645 BuzzMiners in the next 2 months.（Newsfilecorp）
Bitcoin miner TeraWulf is building a nuclear-powered mining facility called Nautilus. Terawulf said that when Nautilus is at full capacity later in Q1 this year, the facility’s fleet of 15,000 mining rigs will have a hash rate of 1.6 EH/s. That amounts to about 0.54% of the total computational power of the entire Bitcoin mining network.（Decrypt）
Crypto miner Mawson Infrastructure has announced its exit from the Australian market and the launch of new mining operations in Pennsylvania, including Mawson’s own mining and the company’s hosting services. Mawson also operates a 100 megawatt mining site there with a hashrate total of 7.8 EH/s. last September, bitcoin miner CleanSpark agreed to buy Mawson’s Georgia mining site and the 6,488 mining machines within the site for up to $42.5 million.（News Bitcoin）
Senator Edward J. Markey and Nuclear Safety, and Representative Jared Huffman announced the reintroduction of the Crypto-Asset Environmental Transparency Act, legislation to require cryptomining companies to disclose their emissions for operations that consume more than five megawatts of power and to require the Environmental Protection Agency (EPA) to conduct a comprehensive investigation into the impacts of U.S. cryptomining.
Next week, Senator Markey will chair the first-ever Senate hearing focused on the urgent need to crack down on the growing environmental impacts of cryptomining. At the hearing, titled “Air, Climate, and Environmental Impacts of Crypto-Asset Mining,” Senator Markey will speak with experts on the crypto industry’s energy consumption, the environmental consequences of crypto emissions, alternatives to cryptomining, and claims made by industry leaders.
Work has begun to set up the first mutual fund for investments in crypto mining enterprises in Russia, the business daily Kommersant reported. It will operate as a venture fund for the purchase of mining hardware through a special entity which will then lease the equipment.
The new closed-end fund will be established by Finam Management, which will register it with the specialized depository in March. Only qualified investors will have access, with a minimum threshold of 300,000 rubles (almost $4,000).
The company intends to raise 500 million rubles (over $6.6 million) before incorporating the leasing firm, Finam CEO Vladislav Kochetkov explained. Part of the money will be used to buy mining machines and the rest will be spent to pay for electricity and maintain the fund.（Bitcoin.com）
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