Bitcoin mining stocks Marathon Digital Holdings Inc (NASDAQ:MARA), Riot Platforms Inc (NASDAQ:RIOT), and CleanSpark Inc (NASDAQ:CLSK) are all trading lower Monday morning. Each of the companies released mining updates for October .
CLSK Mining Update
CleanSpark mined 655 bitcoin in October, up 32% month-over-month. The company has also mined a total of 5,734 bitcoins so far this year.
CleanSpark said it held a total of 8,701 bitcoins as of Oct. 31 after selling 2.78 bitcoins last month. The company closed the month with an operating hash rate of 31.3 EH/s.
“October was another notable operational month in CleanSpark’s history… There are only a few months left in the current year, but we have a handful of projects under construction that we expect to be online and operational before 2025 begins,” said Zach Bradford , CEO of CleanSpark.
At the time of publication, CleanSpark shares were down 3.71% to $9.96, according to Benzinga Pro.
MARA Mining Update
MARA Holdings mined 717 bitcoins in October, up 2% from the previous month. The company said it held a total of 27,562 bitcoins at the end of October.
Marathon Digital noted that it increased its powered hash rate to 40.2 EH/s during the month.
Read Also: How much does the bitcoin cryptocurrency cost on November 6?
“Despite a slight month-over-month decrease in block wins, driven by global hash rate growth and the resulting increase in difficulty level, BTC production increased 2% to 717 BTC,” said Fred Thiel , President and CEO of MARA Holdings.
“Our goal of 50 EH/s by the end of 2024 is within sight as we steadily increase our hash rate by installing new miners, improving infrastructure, and powering additional dip containers.”
MARA Holdings shares were down 2.79% at $15.68 at press time, according to Benzinga Pro.
RIOT Mining Update
Read Also: Donald Trump leads in early vote counts; bitcoin on the rise
Riot mined 505 bitcoins in October, up 23% from the previous month. The company said it had 10,928 bitcoins at the end of the month.
Riot increased its deployed energized hash rate to 29.4 EH/s in the quarter.
“In October, Riot achieved a new milestone in post-halving production with 505 bitcoins mined in the month,” said Jason Les, CEO of Riot.
“This 23% increase in September production is a reflection of both continued growth in our deployed hash rate and efforts to improve our operational efficiency. During the month of October, our deployed hash rate increased to 29.4 EH/s, driven by new deployments of state-of-the-art MicroBT miners at the Corsicana facility. We are pleased with the positive operational momentum underway and look forward to continuing to build on this progress.”
Riot Platforms shares fell 5.3% to $8.94 at press time, according to Benzinga Pro. B
Bitcoin Price Movement
Bitcoin is up around 0.64% over the 24-hour period, trading around $68,400 at last check.
Visit Harraiya times for Latest Cryptocurrency News, Financial News and Sports News. Follow us on Facebook, X ( Twitter ), Instagram and LinkedIn.