The company also sold 200 bitcoin during the month, raising $9.4 million.

Bitcoin miner Riot Blockchain (RIOT) produced 511 bitcoin during March, up 176% from 185 mined a year earlier. As of month’s end, the company held 6,062 bitcoin on its balance sheet.

In a somewhat unusual move, Riot also sold 200 bitcoin during March at an average price of $47,090 each, or a total of roughly $9.4 million. The company earlier this week filed a shelf offering for the sale of up to $500 million in stock via an “at-the-market” program.

Riot received another 1,080 Bitmain S19j Pros during March, deployed 4,440 S19j Pros, and has another 5,030 units ready for deployment. There are also another 5,430 units that Bitmain has shipped, and Riot expects to receive during April.

Once all of the above have been put to work, Riot will have a total of 53,379 miners working, with a hash rate of about 5.4 EH/s. By January of next year, the company expects to have a hash rate capacity of 12.9 EH/s, which assumes full deployment of about 120,150 Antminer ASICs.

The stock price is up marginally in after hours action, but fell 7% during the regular session amid a broad selloff for the bitcoin mining sector that saw Marathon Digital drop 9.2%, Hive Blockchain down 5.2%, and Hut 8 lower by 5.8%.

The post Riot Blockchain Bitcoin Mined Rises to 511 in March appeared first on Crypto Insider.

The miner is hodling all its bitcoins and currently has 9,373.6 bitcoins with a fair market value of approximately $427.7 million.

Marathon Digital (MARA), one of the largest publicly traded bitcoin miners, is still on track to meet its hashrate guidance of 23.3 exahash per second (EH/s) by early 2023, despite a 45-day delay in deploying its mining rigs during the first quarter, the company said in a statement Monday.

The company attributed the delay to a longer-than-expected permitting process for the required power for its operations.

“Typically, power flows from power stations into the grid. However, to ensure we have a consistent power supply when the renewable sources are operating intermittently, we also needed power to flow from the grid back into the power station at scale,” said Marathon CEO Fred Thiel, noting that this process required permitting, which delayed the deployment.

The delay comes after Marathon said that during the fourth quarter of last year maintenance to the power generating station in Hardin, Mont. affected the company’s bitcoin production in November.

However, Thiel said that the “delays are now behind us” and expects to reach 23.3 EH/s by early next year.

Marathon mined 1258.6 bitcoin during the first quarter, a 15% increase from the previous quarter and 556% higher than a year ago.

The miner is still holding on to its mined bitcoins and currently has 9,373.6 BTC with a fair market value of approximately $427.7 million.

Marathon also confirmed to CoinDesk that it is open to selling the company for the right offer as was earlier reported by Bloomberg.

Marathon shares have fallen 12% this year, while bitcoin has fallen 2.6% and mining peers Riot Blockchain (RIOT) and Core Scientific (CORZ) have dropped 9% and 16%, respectively.

The post Bitcoin Miner Marathon on Track to Meet Its Hashrate Guidance, Despite Delay appeared first on Crypto Insider.