Nasdaq-listed cryptocurrency mining firm Anarchism Blockchain has demonstrated a remarkable monthly growth of average daily run charge per unit of Bitcoins (BTC) mined, in Feb.

The U.s.a.-based firm has seen a 147% increase in the average daily run charge per unit of BTC mined, against the average daily production run rate for December 2022, Anarchism revealed on March 5. Riot attributed the heave to its mining equipment upgrade. At the start of the month, it had 2,940 Bitmain S17s and 1,751 S9s machines, while past the end of the month, it was running 4,000 S17s.

Riot's mining facilities upgrade

Riot Blockchain started deploying around 3,000 new units of S17 Pro Antminers as role of the full upgrade of its Oklahoma City mining facility, in Jan. The company purchased the mining machines from Chinese mining giant Bitmain.

At the time, Anarchism anticipated that the upgrade would bring its amass operating hashrate at the Oklahoma Urban center mining facility to approximately 248 petahashes per second, representing a 240% increase in hardware ability efficiency compared to Anarchism'due south mining hashrate.

Worth noting, Anarchism'southward shares dropped past over 5% following the annunciation that the company was planning to sell its cryptocurrency substitution, which was launched in the second quarter of 2022, to focus on BTC mining ahead of the halving in May of this year.

Mining bug in the run-up to BTC halving

As Cointelegraph reported final calendar month, major mining hardware manufacturer Bitmain announced two new upcoming miners — the Antminer S19 and the Antminer S19 Pro. Both miners volition have a power efficiency of 34.5+/-%five joules per terahash.

In the meantime, Alex de Vries, the founder of the Digiconomist, asserted that 98% of mining rigs will never verify a transaction, resulting in an enormous and unproductive electricity expenditure. De Vries explained:

"The shocking thing is the boilerplate lifetime of a bitcoin mining machine is ane and a half years, because nosotros have a new generation of machines which are amend at doing these calculations. And so the rest are just running pointlessly for a few years, using up energy, and producing rut, and and then they will just become trashed because they can't be repurposed."