With the exodus of mining operations from China, after the country’s ban on cryptocurrencies hit the digital currency market, a wave of clean energy demands are rippling through the digital mining sector. There is a growing interest in crypto mining operations that are sustainable, such as ongoing projects by Riot Blockchain, Inc., Marathon Digital Holdings, Inc., BIT Digital, NASDAQ:BTBT, Bitfarms, NASDAQ:BITF, and EV Battery Technologies, CSE:ACDC (OTCQB :CRYBF).

EV Battery Technologies, a blockchain and battery tech innovator, recently announced the purchase of Optimal CP Inc., a large-scale mining infrastructure firm.

EV Battery Tech is continuing its efforts to raise its cryptocurrency exposure. EV Battery Tech currently has the development rights to electricity and infrastructure for 1000 ASIC miners in Western Canada.

“We started the pivot to crypto which has enabled our shareholders participate in this space, while we continue building out our products, services and increasing shareholder value.”
Bryson Goodwin, CEO of EV Battery Tech, commented.

“We have the perfect opportunity to acquire Optimal and become a major cryptocurrency miner!”
Prior to the acquisition, Optimal was already developing numerous facilities in Canada’s ‘energy hub’ of Alberta that will leverage direct access to clean, reliable, low-cost power generation facilities that can provide some of the lowest-cost, cleanest and most reliable mining operations in world.

“Optimal is excited to partner with EV Battery Tech for the development of its Alberta asset portfolio”
remarked Kevin Gilchrist, Optimal’s CEO.

“We think that the Company’s approach to Blockchain-based Technology and its shift towards cryptocurrency are a great fit for Optimal’s strategy to create clean, reliable and cost-effective mining operations in Alberta.
This acquisition closely follows EV Battery Tech’s other recent moves into crypto, including the co-launch of the Daymak Spiritus, a three-wheeler EV with crypto mining capability and the Daymak Solar Tree which is the world’s first commercial emission-free cryptocurrency mining solution; the acquisition of CryptoPlug which has been developing a blockchain-based crypto-compatible application for smartphones; and the collaboration with the Renewable Obligation Base energy economy Protocol (ROBe2 Protocol) through its IONiX Pro subsidiary.

Riot Blockchain, Inc. (NASDAQ :RIOT), purchased a 300MW mine site called Whinstone in Rockdale, Texas, earlier this year. The operation is so far one of the two facilities in the region that has signed on for the state’s grid operator, Elecrtic Reliability Council of Texas’ “controllable load resource” program that pays a premium to industrial users that will allow the grid operator to automatically reduce or increase their power usage when needed.

During Riot’s latest Q3 2021 operational update, the company increased its mining revenue by 2,099% to a record level of $53.6 million for the quarter—while also increasing its deployed hash rate capacity by 63%, from 1.6 EH/s to 2.6 EH/s. Riot’s Whinstone hash rate capacity was 2.8 EH/s at the close of September. In Q4 2022 the company plans to achieve a self-mining capacity of 8.6 EH/s.

“Riot’s vertically integrated, technology-focused strategy de-risks Company’s future growth plans,”
Jason Les is the CEO of Riot.

Riot’s strengths make it a compelling company.
Marathon Digital Holdings, Inc., (NASDAQ:MARA), is growing at an even quicker pace year-over–year. It announced the Q3 2021 results earlier, November. These included a 6,091% rise in revenues over that same period in 2020-2021. Marathon’s revenue increased by 76% even from Q3 to the prior quarter. Marathon’s total miners deployed grew to 25,272 by September 30, 2021. This could produce 2.7 EH/s.

We increased our hashrate to 2.7 EH/s in the third quarter and produced 1,252 self-mined Bitcoins. This is 91% more than our second quarter production.
said Fred Thiel, Marathon’s CEO.

“We now hold approximately 7,035 BTC as of the end-of the third quarter. We are growing these holdings every month, increasing our hash rate, maintaining our strategy to hodl’ the bitcoins we mine.”
BIT Digital (NASDAQ.BTBT) updates the market with its Q3 2021 financial reports. It informs the market that they have removed all remaining miners from China as it moves their fleet out of China. As of that same time period, BIT Digital owned 27,744 miners an estimated maximum total hash rate of 1.603 Exahash (“EH/s”).

Consistent with BIT Digital’s leadership in sustainability, the energy used by their mining system is expected to be generated primarily from zero carbon emission sources. The Wall Street Journal published an extensive video featuring BIT Digital’s status as a sustainability leader.

We applaud The Wall Street Journal for covering the topic of sustainable bitcoin mining operations and for spotlighting some of our efforts.
said BIT Digital’s CSO Sam Tabar.

Bitfarms Ltd.’s Q3 2021 financial updates show that Bitfarms Ltd. (NASDAQ/BITF) (TSXV/BITF), increased its mining production by 38% from 759 BTC during Q2 2021 and decreased its average cost for BTC production by 23%.

Bitfarms is creating a global business by focusing strategic opportunities that cost-effectively leverage our knowledge and win market share.
Emiliano Grodzki was Bitfarms founder and chief executive officer.

We have increased our hashrate by over 2 Exahash per Second (EH/s), and our production capability to 106 Megawatts in Canada and the U.S.A. With an additional 298MW under development in Canada, Paraguay, and Argentina, we are confident that this will create more shareholder value.” We believe we can create shareholder value by pursuing our goals to attain our computational goals, which are 3 EH/s (March 31, 2022), and 8 EH/s (December 31, 2022).

EMAIL NEWSLETTER

You can also join the crypto-verse

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
With just one click, you can unsubscribe at any time.

Continue reading on DailyCoin