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Public Mining Companies' April Production Drops 5-15% Post-Halving
The Miner Mag said that Bitfarms, Cipher, CleanSpark, Core Scientific, Riot, and Terawulf were impacted.
The analysis noted the thriving Bitcoin fee market temporarily minimized the halving's effect on these organizations.
Hut 8 BTC Production Drops 36%
Hut 8, a major North American Bitcoin miner, reported a substantial drop in proprietary output in April.
In their monthly update on Monday, Hut 8 reported that their custom mining fleet mined 148 BTC in April, down 36% from March.
The realized hashrate dropped 51% to 3.44 EH/s from Hut 8's December high of 6.27 EH/s after the merger with USBTC.
Hut 8 blamed the halving event for the output drop, but Marathon bought the Kearney and Granbury sites in December and moved proprietary miners there.
Marathon expedited tenant departure in February, disrupting Hut 8's mining activities.
In the publication, Hut 8 CEO Asher Genoot said the team removed over 25,000 miners on 440 pallets in eight days in April to reduce fleet downtime.
He also said that the relocated Kearney and Granbury miners had settled in Salt Creek in Texas, which opened in three months.
Salt Creek has 63 megawatts.
Hut 8 also announced a gigawatt increase in self-mining, hosting, and managed power capacity in April.
In Ward County, Texas, Ionic Digital energized a 215-megawatt plant, contributing to this growth.
Ionic Digital arose from Celsius's Chapter 11 bankruptcy, a major mining development for Hut 8.
Bitcoin Miners Alter Operations After Halving
Riot Platforms and other bitcoin miners have adjusted their operations after the April 20 halving event, which cut mining payouts from 6.25 BTC to 3.125 BTC, or $180,600.
According to reports, miners may sell Bitcoin in the months after the halving event.
Markus Thielen, director of research at 10x Research, projected that Bitcoin miners might sell $5 billion worth of BTC following the halving.
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