GEM Mining Announces Nearly 30% Increase in Bitcoin Mined in January 2022

GREENVILLE, S.C.--(BUSINESS WIRE)--GEM Mining, a bitcoin (“BTC”) mining company headquartered in Greenville, South Carolina, published its mining production results for the month of January 2022. January saw a month-over-month increase in bitcoin mined, the number of active miners deployed, and reported revenue.

Key metrics include:

- At the end of January, GEM Mining had an active miner fleet of 14,804 miners. This was an active miner fleet increase of 12.8%, compared to the 13,118 active miners deployed at the end of December.

- In January, GEM Mining had a hash rate of 1.44 Exahash per Second (EH/s).

- GEM Mining produced 222.5 BTC in January, increasing 29.8% compared to 171.4 BTC produced in December.

- GEM Mining reported $9.15MM in revenue in January, compared to $8.45MM in December. The slight revenue increase reflects a combination of a strong increase in BTC production for the company and a drop in the value of BTC.

“GEM Mining’s January production marked a strong start to 2022,” explained John Warren, CEO of GEM Mining. “We will continue to build on this success by steadily deploying 18,000 additional, fully-funded and hosted miners set to come online over the coming months.”

About GEM Mining
Headquartered in Greenville, SC, GEM Mining is a privately held, institutional-grade bitcoin (BTC) mining company focused on maximizing equity returns for its investors. The company is led by five founding partners, who have been building the foundations for the blockchain and cryptocurrency company since 2017. With more than 50 years of executive leadership across various national and multi-national companies, the partners have managed over $3 billion in investments and have executed multiple, profitable exits. For more information about GEM Mining, see gemmining.com.