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November 15, 2022
Subscribe to Mining Memo
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Mining Market Update
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| Price |
$16,928 |
▲2.6% |
| Hashrate |
263 EH/s |
▼-1.4% |
| Difficulty |
36.8 T |
►0% |
| Revenue* |
$0.059 |
▼-13% |
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October monthly performance: Riot, Hive, Mara, and more
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Bitcoin’s hashrate hit an all-time high last month–briefly clipping north of 300 EH/s by some counts–causing the mining difficulty to increase 17%. An increase in difficulty, of course, only added strain to overleveraged miners whose troubles became
public knowledge in October.
Luckily, warmer summer weather gave way to cooler autumn temperatures. Production for many miners increased as curtailment ended. Familiar faces rounded out the top three miners, with Bitfarms, Hive Blockchain and CleanSpark taking the top three respectively,
followed by Iris Energy.
These four miners have been extremely consistent over the past 12 months. When considering the year-to-date performance by EH/s, Hive Blockchain remains in top spot, with the smallest of margins from Iris Energy, Bitfarms and CleanSpark.
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Special mentions during October should also be given to DMG Blockchain, Digihost Technology and Marathon Digital who mined a record 615 Bitcoin and achieved a total operational hash rate of 7.0 EH/s by the end of the month.
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Continue reading here.
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Get Tickets Today For The Texas Blockchain Summit!
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The Texas Blockchain Summit is back in Austin, Texas, Nov 17-18! The premier event will bring policymakers, Bitcoin miners, and recognized influencers to discuss Bitcoin, blockchain and crypto space. Get a ticket today using the code 'Compass20.'
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Mining News Feed
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Gizmodo / Bitcoin Magazine (Maybe) Teams Up With Fossil Fuel Giant, Shell
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CoinDesk / Canaan Q3 Net Income Drops 88% as Bitcoin Mining Declines
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CoinDesk / Bitcoin Miner Bitfarms Pays Down $27M of Debt
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| The Bitcoin mempool flooded yesterday as a wave of transactions were sent to an address associated with Binance, which promised to produce a "proof-of-reserves" after FTX's implosion last week (mempool.space). |
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We talk with Ray Nasser, CEO of Arthur Mining, about teaming up with Brazilian power producers to utilize stranded renewable energy for Bitcoin mining.
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Watch on YouTube here.
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| Core Scientific |
12.9% |
$0.20 |
$14.98 |
| Bit Digital |
8.73% |
$1.16 |
$11.36 |
| Hive Blockchain |
7.10% |
$2.56 |
$21.50 |
| CleanSpark |
6.37% |
$2.60 |
$20.00 |
| Hut 8 |
6.2% |
$1.50 |
$14.46 |
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*As of Tuesday, November 15
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About Compass: Compass is a Bitcoin mining and modern media company focused on driving the mass adoption of cryptocurrency mining.
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