Bitcoin: This mining firm's October production topples entire Q3
Bitcoin miners have been on a slippery slope over the past few months. To cater to their costs, they had been collectively selling their holdings. In fact, they’ve been so distressed that on Halloween, there were suggestions floating on social media platforms to dress up like a miner. Also Read – Bitcoin: Top mining company sells 1576 BTC as sell-pressure rises Marathon records most productive month ever Yet, digital asset and mining company Marathon Digital Holdings produced 615 Bitcoin in October—its highest-ever monthly total of mined coins. Interestingly, the amount of Bitcoin mined in October was merely 1 BTC short of the 616 BTC mined throughout the third quarter [July: 72 BTC, August: 184 BTC, September: 360 BTC]. As a result, its total Bitcoin HODLings rose to 11,285 BTC. The fair market value of the same stood at approximately $231.3 million as of October 31, 2022. Alongside, a hash rate growth was also noted by the company. Commenting on how ...