Bitcoin Mining Stock Roundup: May Monthly Numbers

Bitcoin miners enjoyed a solid end of spring, with a further spike in transaction fees caused by the increased use of Bitcoin Ordinal Inscriptions–an average 15% increase in the daily production throughout the month.  

The price of Bitcoin fell by 7% during the month of May to close at $27,219 while mining difficulty actually increased by 3.2% during the month due to the increased hashrate on the network and overall reducing the amount of Bitcoin achieved by the miners.

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Today we are joined by Jim Seto, CEO of ePIC Blockchain Technologies. We discuss designing the ePIC Blockminer, partnering with Intel and making mining rigs in North America.

Unit cost per J/TH is expected to continue downwards, as the enduring washout of over ASIC supply from the 2021 bull market continues. Some 38K machines from Iris Energy's SPV default with NYDIG are expected to hit the market this summer.
 

Source: Hashrate Index, The Block

*As of June 14.