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The leader in Bitcoin mining has announced its financial performance for the first quarter of 2024, revealing an improvement since its emergence from bankruptcy.
Hosting revenue also increased to $29.3 million, fueled by onboarding new digital asset mining clients. They also plan to increase their Bitcoin mining hash rate by introducing more energy-efficient miners while simultaneously developing a high-performance computing service. Sullivan emphasized that they’re well-positioned to tap into the opportunities presented by both markets.The success is due to several strategic initiatives undertaken during the quarter.
The company completed the deployment of 28,400 new S19j XP miners and deployed the first shipment of approximately 2,500 S21 miners while also expanding its operational infrastructure by 21 MW at its Pecos, Texas, site.
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