🔶 August 2024 proved to be a challenging month for mining companies, with a decrease in mining volumes reported.
🔸 Marathon Digital (MARA) mined 673 BTC, which is a 3% decrease compared to July, despite an increase in hash rate to 35.2 EH/s.
🔸 Argo Blockchain mined only 38 BTC, and its revenue dropped to $2.3 million due to economic downturns.
🔸 Riot Platforms also reported a decline, mining 322 BTC. However, the company holds 10,019 BTC on its balance sheet.
🔸 HIVE Blockchain increased its reserves to 2,567 BTC.
🔸 Bitfarms reduced its mining output to 233 BTC but acquired Stronghold Digital Mining.
🔶 Despite these changes, the stocks of all the companies saw an increase, highlighting their adaptation to industry challenges.