2 years ago
GEM Mining’s hashrate roseate 23% successful February, portion the privately held bitcoin miner’s accumulation declined astir 10% from the erstwhile month.
The Greenville, SC-based miner’s hashrate roseate to 1.77 exahash per 2nd (EH/s) from the erstwhile period arsenic the institution accrued its progressive fleet of miners by 22%, according to a statement.
The full Bitcoin network’s hashrate was astir 189 EH/s arsenic of March 2, according to information analytics steadfast Glassnode, implying GEM’s stock of mining powerfulness accounted for astir 1% of the total.
February bitcoin accumulation fell astir 10% to 200.5 bitcoins owed to the abbreviated month, an summation successful planetary hashrate and the interaction of GEM curtailing miners to enactment assemblage needs for other power.
February gross was besides hit, with income falling to $8.22 cardinal from $9.15 million.
“Our February accumulation continues our beardown commencement to the year,” said CEO John Warren. “With 14,000 afloat funded and hosted miners coming online successful the coming months, we volition proceed to rapidly grow our high-quality mining fleet and efficiently nutrient BTC.”
In February, a number of bitcoin miners shuttered their operations to assistance stabilize the powerfulness grid owed a spike successful request during the wintertime storm.
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Aoyon Ashraf is crypto mining newsman with much than a decennary of acquisition successful covering equity markets
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