Bitcoin asset managers ramp up mining revenues
Public filings show increasing production from NYDIG and Galaxy Digital
As discussed earlier this year, bitcoin asset managers NYDIG and Galaxy Digital have increased their proprietary hashrate and infrastructure capacity following consolidation during the crypto bear market.
According to TheMinerMag’s recent report, more details are now available on how they have ramped up revenues generated from bitcoin mining and infrastructure activities in the latest quarter.
Some key numbers from the report:
NYDIG mined 393 and 527 BTC in Q1 and Q2 via a hosting deal with Greenidge that had an average hashrate of 2 EH/s in the last quarter;
After acquiring the Helios site in Texas from Argo, Galaxy increased the gross margin of its proprietary mining and hosting business to over 65% in Q2;
NYDIG is set to add another 0.8 EH/s in Greenidge’s South Carolina site while closing the deal to buy the site to clear Greenidge’s remaining debts.
Read the full post here for more context and detailed breakdowns.
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