Bitcoin miners such as Marathon Digital (MARA) and Riot Platforms (RIOT) increased their production in September as prices for the largest cryptocurrency held steady at $26,000 U.S.
Marathon Digital said that it produced a total of 1,242 Bitcoin in September, a 16% increase from August of this year and a 245% increase from September 2022 when the sector was in a “crypto winter” and prices fell sharply.
Marathon said it has now produced 8,610 Bitcoin this year and is searching for new mining locations that offer low-cost renewable energy needed to mine for digital coins and tokens.
At the same time, crypto miner Riot Platforms increased its production by 9% month-over-month, producing 362 Bitcoin in September.
Smaller miner CleanSpark produced 643 Bitcoin in September, marking the company’s best performance to date.
The increase in production by Bitcoin miners comes as the price of the largest cryptocurrency by market capitalization has remained buoyant despite a decline in stocks since August.
Bitcoin’s price has gained 67% year-to-date and currently trades at $27,700 U.S.
Marathon Digital’s stock has increased 122% this year to trade at $7.54 U.S. per share. The stock of Riot Platforms has risen 169% on the year and trades at $9.06 U.S. a share.
