The Riot platforms (Riot) undermined 527 Bitcoin (BTC) in January, marking its highest monthly production since December 2023 and reflecting an increase of 2% compared to the previous month, according to distant data.
However, the broader Bitcoin mining sector has reported disappointing production figures, most large mining companies with a decrease of one month to more.
Mara Holdings (Mara) undermined 750 BTC in January, representing a drop of 13% compared to December. Likewise, Cleanspark (CLSK) experienced a decrease of 6%, mining 626 BTC. Other mining companies have also reported production figures for one month negative over the month:
- Iren (Iren): 2% decline
- Core Scientific (CORZ): 13% decline
- Cipher Mining (CIFF): 7% decline
- Bitfarms (bitf): 5% decline
- Hut 8 (Hut): 31% decrease
The widespread decrease in Bitcoin production can be attributed to the growing difficulty of the network, which Riot and the CEOs of Mara quoted as a key challenge.
“In January, our production experienced 12% per month of the won blocks, largely due to fluctuations in network difficulty and intermittent reduction,” said Fred Thiel, Chairman and Chief Executive Officer of Mara.
“Riot operated 527 Bitcoin in January, marking the second consecutive month of increased production despite the increase in network difficulties,” said Jason les, CEO of Riot.
Bitcoin mining difficulty adjusts all 2,016 blocks to maintain an average block time of 10 minutes. The next difficulty adjustment, scheduled for February 9, should reach a record level, exceeding the previous record of 108.11 Billions (T).
Mining Stocks Performance Year to date
Bitcoin increased by 4% YTD, serving as a reference for mining actions. Among minors:
- Cipher Mining (CIFF) is the interpreter out of competition, up 27%
- Iren, Riot and CLSK all displayed two -digit gains
- Bitdeer Technologies (BTDR) is down 25%
- Core Scientific (CORZ) and Terrawulf (WULF) are both decreasing by around 10%.
HIVE (HIVE), BTDR and WULF have not yet reported production figures for January.
