Marathon, Riot and Heatwave Bitcoin Mining

Published: Sat, 07/23/22

July 23, 2022
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Mining Market Update

July 18-22

Bitcoin

Price

$22,715

▲9%

Hashrate

195 EH/s

►0%

Difficulty

27.73 T

▼-5%

Revenue*

$0.1043

▲8%

Part 1: A tale of two strategies: Marathon Digital and Riot Blockchain

Marathon Digital (MARA) and Riot Blockchain (Riot), two of the largest North American listed miners, greatly benefited from being the first two US Bitcoin miners to be listed on the Nasdaq stock exchange.

Access to greater liquidity from retail and large institutional investment companies, such as Vanguard, BlackRock and Fidelity, gave them both the ability to raise significant funds in 2020-2021 and execute on ambitious growth strategies.

These two companies chose two totally different Bitcoin mining strategies, with Marathon Digital preferring to use a host provider for its miners and Riot Blockchain choosing to build its own infrastructure.

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Part 2: A tale of two strategies: Marathon Digital and Riot Blockchain

Riot Blockchain made an especially memorable splash into the Bitcoin world in 2018 when it changed its name from Bioptix to Riot Blockchain. Now its known for one of the most dominant bull market runs from any public miner.

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Foundry Announces Foundry Academy to Train Technicians for Bitcoin Mining Industry

The future of digital asset mining calls for top technical talent. As the premiere training program for professional Mining Technicians, Foundry Academy answers. The next one week course runs September 12-17 in Rochester, NY.

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In The Headlines

CoinDesk / Bitcoin Mining Difficulty Drops as Miners Feel the Texas Heat

Bloomberg / Texas’s Summer is Bitcoin Mining’s Winter

CoinDesk / Bitcoin Miner Marathon Digital Signs Multiple Hosting Deals to Reach Its Hashrate View

Compass Mining / Compass Mining Announces 75MW Site Expansion With Compute North

Mining During A Heatwave

In this episode we talk with Charlie Spears from Nakamotor about the potential impacts the Celsius bankruptcy might have on miners, rising energy costs, and miners overheating. Seriously, why is it so damn hot!?

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2022 Mining Operations Summer Update

It's hot out there! Check out Compass Mining's Summer 2022 outlook from our operations director, Neil Galloway. Read about facility temperatures, chip cooling and curtailment expectations from an industry vet.