The decline in Bitcoin also hit the miners! Only one company is standing! Here are the details

Riot Platforms (RIOT) Leaving behind the wider Bitcoin mining sector in January, the highest monthly production since December 2023 527 BTC He worked as a mining.

Riot Platforms challenged the collapse in the sector with strong Bitcoin production in January

This figure points to an increase of 2 %compared to December and challenges the decreasing production tendency due to increased network difficulties throughout the sector.

Bitcoin miners are fighting in the midst of increasing difficulties

While Riot managed to increase production, most large Bitcoin miners reported a decrease in production compared to the previous month.

Mara Holdings (Mara) – 750 BTC issued, 13 %decrease

Cleanspark (CLSK) – 626 BTC issued, 6 %decrease

Core Scientific (Corz) – 13 %decrease

Cipher Mining (CIFR) – 7 %drop

Bitfarms (BITF) – 5 %drop

Hut 8 (Hut) – 31 %decrease

The decrease in mining output was attributed to an increase in an increased Bitcoin network challenge in a 2,016 block to maintain the 10 -minute block time.

By exceeding the previous record, 108.11 trillion (T), it is estimated that the next adjustment expected on February 9 will increase the difficulties to the highest level of all time.

Mining CEOs react to difficulties

Sector leaders accepted the difficulties faced by miners. MARA Chairman and CEO Fred Thiel stated that there was a decrease of 12 %in the won blocks compared to the previous month and attributed it to fluctuations and intermittent cuts in network difficulties.

Jason Les, CEO of Riot, underlined the endurance of his company: “Riot removing 527 Bitcoin in January, increasing the second month production in a row despite increasing network difficulties.”

*It is not an investment advice.