GEM Mining Announces a 26% Increase in Bitcoin Mined in March 2022
Over $10MM in reported revenue for the month
GREENVILLE, S.C. — GEM Mining, a bitcoin (“BTC”) mining company headquartered in Greenville, South Carolina, published its mining production results for March 2022. March saw a month-over-month increase in bitcoin mined, the number of active miners deployed, hash rate, and reported revenue.
Key metrics include:
- GEM Mining produced 252.9 BTC in March, an increase of 26.1%, compared to 200.5 BTC produced in February.
- GEM Mining reported $10.61MM in revenue in March, increasing 29.0% compared to $8.22MM in February.
- At the end of March, GEM Mining had an active miner fleet of 18,976 miners. This was an active miner fleet increase of 5.0%, compared to the 18,065 miners deployed at the end of February.
- In March, GEM Mining had a hash rate of 1.85 Exahash per Second (EH/s), increasing 4.5%, compared to 1.77 EH/s in February
- At the end of March, GEM Mining has produced 676.0 BTC in 2022
“GEM Mining closed Q1 on a high note with gains in all month-over-month production metrics,” explained John Warren, CEO of GEM Mining. “I am happy to report that our Q1 2022 BTC production has already eclipsed our results for the entirety of 2021. We will continue to focus our efforts on rapidly deploying our mining fleet and efficiently producing BTC.”
About GEM Mining
Headquartered in Greenville, SC, GEM Mining is a privately held, institutional-grade bitcoin (BTC) mining company. The company has over 18,500 miners currently active, with an additional 13,500 fully funded and hosted machines set to come online by the end of 2022. The company’s active miner fleet accounts for over 1% of the global hash rate and is a 97% carbon neutral operation.