Riot Platforms (RIOT) extracted 527 Bitcoin (BTC) in January, marking its highest monthly production since December 2023 and reflecting a 2% increase from the previous month, according to Fatheride Data.
However, the wider Bitcoin mining sector reported alongside production figures, with most major mining companies experiencing reduced month-over-month drop.
Mara Holdings (Mara) extracted 750 BTC in January, representing a decrease of 13% from December. Similarly, Cleanspark (CLSK) experienced a decrease of 6%, mining 626 BTC. Other mining companies also reported negative production figures from month over month:
- IREN (IREN): 2% decline
- Core Scientific (Corz): 13% decline
- Cipher mining (digifr): 7% fall
- BitFarms (Bitf): 5% Return
- Hytte 8 (Hytte): 31% Fall
The widespread decrease in Bitcoin production can be attributed to the rising network difficulty that both Riot and Mara’s CEOs cited as an important challenge.
“In January, our production experienced a decrease of 12% over the month of the month in blocks won, largely due to fluctuations in network problems and intermittent restrictions,” said Fred Thiel, Mara’s chairman and CEO.
“Riot extracted 527 Bitcoin in January, marking the second consecutive month of increased production despite rising network problems,” said Jason Les, CEO of Riot.
Bitcoin’s mining difficulty is adjusted every 2,016 blocks to maintain an average block time of 10 minutes. The next difficulty adjustment set for February 9 is expected to hit a highlight at all times that exceed the previous record of 108.11 trillion (T).
Mining.
Bitcoin has risen 4% YTD, which serves as a benchmark for mining. Among the miners:
- Cipher mining (digifr) is the prominent artist, an increase of 27%
- Iren, Riot and CLSK have all sent double -digit winnings
- Bitdeer Technologies (BTDR) has fallen 25%
- Core Scientific (Corz) and Terrawulf (Wulf) are both down approx. 10%.
HIVE (HIVE), BTDR and WULF have not yet reported January production figures.
