{"id":1254,"date":"2023-08-21T15:16:14","date_gmt":"2023-08-21T15:16:14","guid":{"rendered":"https:\/\/riot-dev.flywheelsites.com\/?page_id=1254"},"modified":"2023-10-10T20:43:03","modified_gmt":"2023-10-10T20:43:03","slug":"bitcoin-mining","status":"publish","type":"page","link":"https:\/\/www.bithashmining.com\/bitcoin-mining\/","title":{"rendered":"Bitcoin Mining"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; module_class=&#8221;internal-hero&#8221; _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; background_enable_image=&#8221;off&#8221; background_video_mp4=&#8221;https:\/\/www.bithashmining.com\/wp-content\/uploads\/2023\/10\/h5.mp4&#8243; background_video_webm=&#8221;https:\/\/www.bithashmining.com\/wp-content\/uploads\/2023\/10\/h5.webm&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; title_text=&#8221;h5&#8243; sticky_enabled=&#8221;0&#8243;][et_pb_row _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h4>Bithashmining Platforms<\/h4>\n<h1>Bitcoin Mining<\/h1>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; module_class=&#8221;internal-menu&#8221; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#2d425a&#8221; use_background_color_gradient=&#8221;on&#8221; background_color_gradient_type=&#8221;elliptical&#8221; background_color_gradient_direction_radial=&#8221;bottom left&#8221; background_color_gradient_stops=&#8221;rgba(234,142,62,0) 0%|rgba(244,182,68,0) 99%&#8221; custom_padding=&#8221;0px||0px||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;10px||10px||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_menu menu_id=&#8221;14&#8243; active_link_color=&#8221;#FFFFFF&#8221; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; menu_font=&#8221;|300|||||||&#8221; menu_text_color=&#8221;#FFFFFF&#8221; menu_font_size=&#8221;16px&#8221; background_enable_color=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_menu][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||21px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;|300|||||||&#8221; text_font_size=&#8221;24px&#8221; text_line_height=&#8221;1.71em&#8221; header_2_font=&#8221;|300|||||||&#8221; header_2_font_size=&#8221;44px&#8221; header_2_letter_spacing=&#8221;-0.02em&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2 style=\"text-align: center;\">Merging Power with Possibilities<\/h2>\n<p style=\"text-align: center;\">Fueling Success and Rapid Growth in Bitcoin Mining Operations<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; disabled_on=&#8221;on|on|on&#8221; module_class=&#8221;home-three-box&#8221; _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;22px|||||&#8221; disabled=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row column_structure=&#8221;1_2,1_2&#8243; 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button_alignment=&#8221;center&#8221; _builder_version=&#8221;4.22.1&#8243; _dynamic_attributes=&#8221;button_url&#8221; _module_preset=&#8221;default&#8221; button_icon_color=&#8221;#141414&#8243; custom_padding=&#8221;11px|34px|10px|34px|false|false&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; module_class=&#8221;fullwidth-two-col inline-buttons&#8221; _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row column_structure=&#8221;1_2,1_2&#8243; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#f5f5f5&#8243; width=&#8221;100%&#8221; max_width=&#8221;100%&#8221; custom_padding=&#8221;0px||0px||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_image src=&#8221;https:\/\/www.bithashmining.com\/wp-content\/uploads\/2023\/09\/image-nohover.jpg&#8221; title_text=&#8221;image-nohover&#8221; force_fullwidth=&#8221;on&#8221; module_class=&#8221;image-hover&#8221; _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][\/et_pb_column][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||20px||false|false&#8221; custom_padding=&#8221;||||false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h3>Bithashmining Facilities<\/h3>\n<h4>Our two large-scale Bitcoin <br \/>mining facilities run in Texas<\/h4>\n<p>[\/et_pb_text][et_pb_button button_url=&#8221;@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjEzMDIifX0=@&#8221; button_text=&#8221;Rockdale&#8221; button_alignment=&#8221;left&#8221; module_id=&#8221;image-rockdale&#8221; module_class=&#8221;inline-btn&#8221; _builder_version=&#8221;4.22.1&#8243; _dynamic_attributes=&#8221;button_url&#8221; _module_preset=&#8221;default&#8221; button_icon_color=&#8221;#141414&#8243; custom_padding=&#8221;11px|34px|10px|34px|false|false&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][et_pb_button button_url=&#8221;@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjE3NjUifX0=@&#8221; button_text=&#8221;Corsicana&#8221; button_alignment=&#8221;left&#8221; module_id=&#8221;image-corsicana&#8221; module_class=&#8221;inline-btn&#8221; _builder_version=&#8221;4.22.1&#8243; _dynamic_attributes=&#8221;button_url&#8221; _module_preset=&#8221;default&#8221; button_icon_color=&#8221;#141414&#8243; custom_padding=&#8221;11px|34px|10px|34px|false|false&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; module_class=&#8221;bitcoing-minin-text&#8221; _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; background_image=&#8221;https:\/\/www.bithashmining.com\/wp-content\/uploads\/2023\/08\/bitcoin-mining-bg.jpg&#8221; custom_padding=&#8221;60px||900px||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row disabled_on=&#8221;on|on|on&#8221; _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; disabled=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_image src=&#8221;https:\/\/www.bithashmining.com\/wp-content\/uploads\/2023\/08\/r-1.png&#8221; title_text=&#8221;r&#8221; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; width=&#8221;70px&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][et_pb_text module_class=&#8221;free-text&#8221; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;|300|||||||&#8221; text_text_color=&#8221;#141414&#8243; text_font_size=&#8221;20px&#8221; text_line_height=&#8221;1.66em&#8221; header_3_font=&#8221;|300|||||||&#8221; header_3_text_color=&#8221;#141414&#8243; header_3_font_size=&#8221;32px&#8221; header_3_letter_spacing=&#8221;-0.02em&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h3>Second Quarter 2023 Financial and Operational Highlights<\/h3>\n<ul>\n<li>Total revenue of $76.7 million, as compared to $72.9 million for the same three-month period in 2022. The increase was primarily driven by a 27% increase in Bitcoin production as compared to the same three-month period in 2022, offset by lower Bitcoin prices which averaged $28,024 per Bitcoin for the quarter, a decrease of 15% as compared to an average price of $33,083 per Bitcoin for the same three-month period in 2022.<\/li>\n<li>Produced 1,775 Bitcoin during the quarter, as compared to 1,395 Bitcoin during the same three-month period in 2022. Higher Bitcoin production was driven by a significant increase in miners deployed year over year.<\/li>\n<li>The average cost to mine Bitcoin was $8,389 in the second quarter, as compared to $11,316 per Bitcoin for the same three-month period in 2022.<\/li>\n<li>Earned $13.5 million in power curtailment credits during the quarter, as compared to $5.7 million in power curtailment credits earned for the same three-month period in 2022.<\/li>\n<li>Mining revenue of $49.7 million for the quarter, as compared to $46.2 million for the same three-month period in 2022, primarily driven by higher Bitcoin production, offset by lower average Bitcoin prices.<\/li>\n<li>Data center hosting revenue of $7.7 million for the quarter, as compared to $9.8 million for the same three-month period in 2022, driven by fewer hosting customers and lower Bitcoin values during the 2023 period, partially offset by increased revenue share from hosting customers.<\/li>\n<li>Engineering revenue of $19.3 million for the quarter, as compared to $16.9 million for the same three-month period in 2022, primarily driven by increased demand from third-party data center and engineering customers and delivering on backlog of projects.<\/li>\n<li>Maintained industry-leading financial position, with $408.4 million in working capital, including $289.2 million in cash on hand and $221.4 million in unencumbered Bitcoin (unaudited, assuming a market price for one Bitcoin on June 30, 2023 of approximately $30,477), all of which were produced by the Company\u2019s self-mining operations, as of June 30, 2023.<\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bithashmining Platforms Bitcoin MiningMerging Power with Possibilities Fueling Success and Rapid Growth in Bitcoin Mining OperationsBithashmining Facilities Our two large-scale Bitcoin mining facilities run in TexasSecond Quarter 2023 Financial and Operational Highlights Total revenue of $76.7 million, as compared to $72.9 million for the same three-month period in 2022. The increase was primarily driven by a 27% increase in Bitcoin production as compared to the same three-month period in 2022, offset by lower Bitcoin prices which averaged $28,024 per Bitcoin for the quarter, a decrease of 15% as compared to an average price of $33,083 per Bitcoin for the same three-month period in 2022. Produced 1,775 Bitcoin during the quarter, as compared to 1,395 Bitcoin during the same three-month period in 2022. Higher Bitcoin production was driven by a significant increase in miners deployed year over year. The average cost to mine Bitcoin was $8,389 in the second quarter, as compared to $11,316 per Bitcoin for the same three-month period in 2022. Earned $13.5 million in power curtailment credits during the quarter, as compared to $5.7 million in power curtailment credits earned for the same three-month period in 2022. Mining revenue of $49.7 million for the quarter, as compared to [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"<!-- wp:divi\/placeholder \/-->","_et_gb_content_width":"","footnotes":""},"_links":{"self":[{"href":"https:\/\/www.bithashmining.com\/wp-json\/wp\/v2\/pages\/1254"}],"collection":[{"href":"https:\/\/www.bithashmining.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bithashmining.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bithashmining.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bithashmining.com\/wp-json\/wp\/v2\/comments?post=1254"}],"version-history":[{"count":10,"href":"https:\/\/www.bithashmining.com\/wp-json\/wp\/v2\/pages\/1254\/revisions"}],"predecessor-version":[{"id":2349,"href":"https:\/\/www.bithashmining.com\/wp-json\/wp\/v2\/pages\/1254\/revisions\/2349"}],"wp:attachment":[{"href":"https:\/\/www.bithashmining.com\/wp-json\/wp\/v2\/media?parent=1254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}