Marathon Digital and Bitfarms mined over 3K Bitcoins in 2021

Bitfarms (BITF) and Marathon Digital (MARA), two of the most prominent publicly-traded bitcoin miners, each stated on Monday that they had individually mined more than 3,000 BTC in 2021.

Bitfarms, situated in Canada, mined 3,452 BTC for the year, while Marathon, based in the United States, mined 3,197 BTC.

Towards the end of the year, Bitfarms’ total holdings had grown to more than 3,300 BTC, which is currently worth $151.8 million at current prices. Meanwhile, Marathon’s holdings had grown to 8,133 BTC, with a current worth of around $375.8 million.

Because of the significant increase in BTC prices over the course of the year, the vast majority of miners chose to hang onto the bitcoin they had mined rather than sell them as the year progressed. The Bitcoin miners’ unspent supply in December approached the peak.

Bitcoin mining firms make a solid entry to 2022

Over the month of December, Bitfarms mined 363 BTC, whereas Marathon mined 484.5 bitcoin during the same month. However, Bitfarms’ monthly production remained more stable throughout the year, whereas Marathon’s BTC production in November dropped to just 196 as a result of upgrades to its power producing units, which decreased computing power.

Riot Blockchain (RIOT), Hut 8 Mining (HUT), and Bit Mining (BTCM) are just a few of the companies that compete with Bitfarms and Marathon, and they have yet to reveal their mining totals for 2021.

Notably, Marathon Digital was on headlines multiple times in 2021. It recently unveiled its record number of Bitcoin miners shopping. The company also said that it is aiming to expand the hashrate by 6 times in the coming future. 

After the heavy crackdown on Bitcoin miners by China back in May last year, most of the companies migrated to mining-friendly countries like Kazakhstan and Russia. Miners seem to be completely recovered from the Chinese crackdown and will continue to shine in 2022.