US Mining Companies 2, BTC Mining Volume Increased by 35% and 11% Compared to Previous Month
Mara Holdings, Expanded Total BTC Holdings to 49,228
Riot Platforms Moves to Secure Additional BTC Production Land
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Decrypt, a cryptocurrency specialized media, reported on the 4th that Mara Holdings, a major Bitcoin mining company, mined 950 Bitcoins in May. This is an increase of about 35% compared to the previous month.
Based on the May production volume, Mara Holdings' total Bitcoin holdings are 49,228. The company did not sell a single Bitcoin during that period.
Not only Mara Holdings. Competitor Riot Platforms also mined 514 Bitcoins in May. Riot Platforms' mining volume also increased by 11% compared to the previous month.
While Riot Platforms sold the produced Bitcoins, they have invested to produce more Bitcoins.
According to reports, Riot Platforms sold 500 Bitcoins in May and acquired 355 acres of land near Corsicana, Texas. The site is planned to be used for developing a data center for high-performance computing.
The reason for the rapid Bitcoin production by major Bitcoin mining companies is attributed to Bitcoin breaking new highs consecutively last month. Bitcoin was recognized as a safe asset amid an unstable macroeconomic situation, breaking new highs and recording $112,000. This is interpreted as mining companies quickly moving to production due to Bitcoin's 'high-altitude march'.
The Bitcoin hash rate also recorded 58.3 exahashes per second (EH/s) amid the mining competition of Bitcoin mining companies.
Reporter Jeong Ha-yeon yomwork8824@gmail.com
