September marked the profit of Bitcoin miners

September 2023 was a great month for Bitcoin mining companies. Although the crypto world is focused on high-profile court cases regarding SBF and Celsius' Mashinsky, Bitcoin miners are constantly improving their hash rates, hoping for more future supply of the first cryptocurrency.

The news of the results of three Bitcoin mining companies coincides with reports that Kraken hit a 5-year ATH BTC flow and a hash rate of 506.06M in mid-September, according to YCharts.

CleanSpark celebrates its best year on record.

CleanSpark mined 643 BTC in September, bringing its total BTC holdings to 2,240.

According to the company's CEO, these numbers make the last few months not only the most profitable quarter, but also a record – making CleanSpark's FY23 the best year to date.

We had a great quarter and a great fiscal year. We are efficient, our energy costs are among the best in the industry, and our facilities are operating at maximum capacity. I'm especially proud of our teams and leaders who show grit @CleanSpark_Inc day in and day out…

— Zach Bradford (@ZachKBradford) October 3, 2023

Riot Blockchain also reportedly had a good month. Although the company generated about half of what CleanSpark did – a total of 362 BTC – this was mostly due to an agreement with ERCOT, the Texas electric grid.

This deal paid out more than $13 million in power credits, which is worth more than 500 BTC at current prices.

“By systematically curtailing mining operations, we received $11.0 million in energy credits and $2.5 million in demand response credits from participation in the ERCOT Auxiliary Services Program under our contract with our service provider. Combined, total energy and demand response credits earned approximately 511 bitcoins based on the average price in September.

Marathon mining over 1,000 BTC

Although CleanSpark and Riot Blockchain both performed well in September, they were outperformed by Marathon Digital Holdings.

Marathon produced 1,242 BTC in September, bringing its year-to-date total to 8,610, according to the company's press release.

Here is the Marathon Digital Holdings September #Bitcoin product update:

Average monthly operational hash rate increased by 20% – 1,242 BTC generated in September 2023 and 8,610 BTC year-to-date – Record mining monthly share of 4.3% – Unlimited cash and…

— Marathon Digital Holdings (NASDAQ: MARA ) (@MarthonDH) October 4, 2023

Marathon also used the announcement as an opportunity to reveal its plans for the future.

“Our primary focus is still growth. We have now reached 23 exahashes in our initial domestic growth plan and are currently evaluating several opportunities for our next 5 exahashes of hashrate capacity in international locations with low cost renewable energy.

However, Marathon's mining operations were not without problems. In his run to set new records, he managed to issue an invalid block, for example, due to an error in processing Bitcoin transactions.