GEM Mining, a Bitcoin (BTC) miner in South Carolina, announced that it increased its production capacity by 22 percent in a month.
According to the statement made by GEM Mining on Thursday, the number of devices used by the company to generate Bitcoin is between January and February 2022. increased from 14 thousand 804 to 18 thousand 65.
The increase in the number of devices resulted in the hash rate of GEM Mining increasing from 1.44 EH/s to 1.77 EH/s.
Despite the increase in the hash rate, the company produced 222.5 bitcoins in January, while it was able to produce 200.5 bitcoins in February. GEM Mining noted this decrease in the amount of BTC it produced both in February compared to January. to be shorter as well as global increase in hash rate tied up.
The company’s $9.15 million in January; While it was stated that it earned $8.22 million in revenue in February, this decrease in revenue was attributed to the same reasons.
John Warren, CEO of GEM Mining, which has produced a total of 423 bitcoins since the beginning of this year, said: “We made a good start to this year and we continued this in February. Thanks to the 14,000 devices we will start operating in the coming months, we will grow our fleet and continue to mine effectively.” said.