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Home Markets Crypto Market

rewrite this title Top 11 Bitcoin miners see monthly production rise 13% in October despite rising difficulty

Oluwapelumi Adejumo by Oluwapelumi Adejumo
November 8, 2024
in Crypto Market
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rewrite this title Top 11 Bitcoin miners see monthly production rise 13% in October despite rising difficulty
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The top 11 Bitcoin mining companies by market capitalization have achieved record monthly production levels in October, the highest since the April halving event.

Data from Farside shows that every major publicly listed miner, except Terawulf, posted month-over-month production growth. Collectively, these companies increased production by 13%, bringing total Bitcoin mined in October to 3,630 BTC.

Bitcoin Miners’ October Production (Source: Farside)

Marathon Digital Holdings (MARA) led the production surge with 717 BTC, while CleanSpark (CLSK) followed with 655 BTC. Riot Platforms (RIOT) also saw notable gains, producing 505 BTC. Terawulf (WULF), however, experienced a slight dip, producing 150 BTC in October, down from 176 BTC in September.

These production milestones were achieved despite rising mining difficulty, which increased twice in October by an average of over 3%, according to Hashrate Index.

Bitcoin Mining Difficulty Bitcoin Mining Difficulty
Bitcoin Mining Difficulty Adjustments (Source: Hashprice Index)

This trend has continued into November, with mining difficulty climbing by over 6% so far. The next adjustment, scheduled for November 18, is projected to add more than a 2% increase

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

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