{"id":26878,"date":"2022-11-02T12:13:56","date_gmt":"2022-11-02T06:43:56","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=26878"},"modified":"2022-11-02T15:50:37","modified_gmt":"2022-11-02T10:20:37","slug":"bitcoin-miner-beats-the-bears","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/bitcoin-miner-beats-the-bears\/","title":{"rendered":"Bitcoin miner beats the bears, registers 78% increase in mining figures"},"content":{"rendered":"

Canada-based Bitcoin miner Digihost has managed to maintain a good cash flow and debt-free position, according to the company\u2019s latest press release<\/a>. The Nasdaq-listed firm mined 74.58 BTC in October 2022. That\u2019s a 78% increase compared to October 2021.<\/p>\n

The miner currently holds $2.45 million in BTC, going by BTC\u2019s price on 31 October 2022.<\/p>\n

Despite existing market volatility, Digihost CEO Michel Amar pointed out, the miner could maintain decent cash and crypto-based liquidity, month-on-month. He also added that the company remains debt-free to date.<\/p>\n

Why this Bitcoin miner development is important<\/h2>\n

At a time when bearish headwinds are impacting the cryptocurrency mining space, Digihost has managed to spell some hope for the mining community. Most crypto miners have been feeling the heat of spiking energy costs and the lowest possible hash prices in recent times. Hash rates are an indication of mining difficulty, and Bitcoin\u2019s current rate<\/a> is pretty high\u2014at 271.89 EH\/s.<\/p>\n

Just yesterday, speaking to online news company Tech Crunch, Nick Hansen, CEO of crypto-mining company Luxor, said<\/a> that miners are struggling at the moment with the miner revenue sitting at an all-time low.<\/p>\n

Addressing the causes for the current state of crypto mining, Christopher Perceptions, CEO of NoCodeClarity, also said, to Tech Crunch, that rising inflation, looming global recession, and soaring electricity prices are some of the reasons for the precarious state of crypto mining.<\/p>\n

Other factors include mining expansion, increased miner competitiveness, and the inflow of ETH miners into the BTC mining space.<\/p>\n

Digihost seems to have bucked every bearish trend in the book to remain cash-positive. The news should therefore give some confidence to other Bitcoin miners.<\/p>\n

How is Digihost managing this?<\/h2>\n

Digihost has managed to maintain its cash flow by selling off a portion of its BTC holdings last month. The sale was meant to cover its energy costs.<\/p>\n

The CEO explained that they have maintained the liquidity levels by \u201cinternally funding 100%\u201d of the company\u2019s infrastructure development and \u201csecuring bonds for electric service.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Canada-based Bitcoin miner Digihost has managed to maintain a good cash flow and debt-free position, according to the company\u2019s latest press release. The Nasdaq-listed firm mined 74.58 BTC in October 2022. That\u2019s a 78% increase compared to October 2021. The miner currently holds $2.45 million in BTC, going by BTC\u2019s price on 31 October 2022. […]<\/p>\n","protected":false},"author":76,"featured_media":26879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6536],"class_list":["post-26878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-09-19T19:04:28+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Ananda Banerjee\",\"description\":\"Ananda Banerjee is a creative copywriter at heart, a technical writer by profession, and a multifarious Web 3.0 creator in his leisure time. An ever-curious crypto connoisseur, he believes endless reading and purposeful learning are the keys to written and verbal specificity.\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/ananda-banerjee\/\",\"sameAs\":[\"A_B_boying\",\"https:\/\/www.linkedin.com\/in\/ananda-banerjee\"],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/acf35d8cc57009e7786c2fbd6b587f8d?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer","key_takeways":false},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/76"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=26878"}],"version-history":[{"count":2,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26878\/revisions"}],"predecessor-version":[{"id":26925,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26878\/revisions\/26925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/26879"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=26878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=26878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=26878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}