Core

2024

Bitcoin

April

Over one dozen publicly traded companies are involved in digital asset mining, especially Bitcoin mining. In a recent update, Marathon Digital Holding and Riot Platform Inc. noted that both of these companies saw a surge in Bitcoin mining after the BTC halving that occurred in April this year.&nbsp;
Thepress release dated November 04, 2024, by MARA, notes that it has produced Bitcoins worth roughly $47.7 million, which means 717 BTCs. It is worth noting that the company has regarded its improved and increased rate behind the surged production of BTCs.&nbsp; 
Following the boost in revenue from Bitcoin mining the chief executive officer and chairman of Marathon Digital, Fred Thiel said that “ October was our best month of bitcoin production since April’s halving event as uptime remained strong and we grew our energized hash rate to 40.2 EH/s, a 14% increase over September.”&nbsp;&nbsp;&nbsp;
In terms of market capitalization, Marathon Digital Holdings is at the top of the list with a cap of $4.56 billion followed by Core Scientific which has $3.36 billion in market cap and Riot Blockchain has $2.98 billion.&nbsp;
The release further reads that despite a slight month-over-month decline in block wins due to the growth in global hash rate and the corresponding surge in difficulty level, BTC production grew by 2%, reaching 717 BTC. Riot Blockchain Reported Surged Bitcoin Production 
After the recent Bitcoin halving of the mining reward was cut in half which was rewarded before April of this year. The fourth BTC halving has reduced the block mining reward from 6.25 Bitcoins to 3.125 Bitcoins.&nbsp;&nbsp;&nbsp;&nbsp;
Riot Blockchain the third most prominent Bitcoin miner has also reported a surge in Bitcoin production in October 2024, the data notes that it has produced 505 BTCs roughly valued at $35 million.&nbsp;
It is worth noting that the number of Bitcoin production by Riot has surged 22.6% in October compared to September 2024. Similarly, the company attributed its hashrate to the growth in the production of BTCs.&nbsp;
Talking about the surged production of Bitcoin, Jason Les the chief executive officer of Riot highlighted that “ During the month of October, our deployed hash rate increased to 29.4 EH/s, driven by new deployments of latest generation MicroBT miners at the Corsicana Facility,” he adds “ We are pleased with the positive operational momentum underway and look forward to continuing this progress.”&nbsp; Marathon (MARA) Stock Price Overview&nbsp; 
Despite the boost in <a href="https://news.todayq.com/microstrategy-raises-stock-market-by-announcing-plan-to-buy-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin </a>production, MARA stock remains in red as of writing it was trading at $15.50, with an average volume of 29.69 million. A decline of 12.53 percent has been observed in its stock price in the past seven days and lost 1.96 percent in the past 30 days.&nbsp;&nbsp; Source: TradingView&nbsp; 
When writing Mara stock was trading below 20, 50, 100, and 200 days exponential moving average. As per market experts, a bullishness in Marathon stock price is expected in the next coming trading session, as the company is expected to report its earnings and revenue for the third quarter.&nbsp;
The expected EPS in Q3, 2024 of MARA share is negative $0.35 and the expected revenue is $146.69 million. It is crucial to note that its stock price has seen an unprecedented decline of 41.28% in the YTD frame, and 20.88% in the past six months.&nbsp; Riot Platform (RIOT) Stock Price Overview&nbsp; 
Until publishing, Riot stock was trading at $8.98 with an average trading volume of 22.38 million and at the same time, it was trading above 50 days EMA and below 20, 100, and 200 days EMA.&nbsp; Source: TradingView&nbsp; 
According to data from TradingView, RIOT stock price has mirrored a decline of 10.38% in the past seven days and 47.39% in the YTD frame. The annual price target of RIOT is $16. 54 which is 84% greater than its current trading price.&nbsp;
In the second quarter of 2024, the RIOT platform reported 200.32% less EPS than expected and its revenue fell and reached $84.80 million, 5.48% less than the estimates.&nbsp;

Marathon & Riot Bitcoin Production Rises in October 2024- Report

Todayq News

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