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GEM Mining Announces April 2022 Production Update

GREENVILLE, S.C.--(BUSINESS WIRE)--GEM Mining, a bitcoin (“BTC”) mining company headquartered in Greenville, South Carolina, published its mining production results for April 2022.

Key metrics include:

- At the end of April, GEM Mining had an active miner fleet of 19,175 miners. This was an active miner fleet increase of 1.0%, compared to the 18,976 miners deployed at the end of March.

- In April, GEM Mining had a hash rate of 1.88 Exahash per Second (EH/s), increasing 1.6%, compared to 1.85 EH/s in March.

- GEM Mining produced 244.8 BTC in April, a decrease of 3.2%, compared to 252.9 BTC produced in March. GEM Mining produced 8.16 BTC per day in April, achieving the same daily production rate as March.

- GEM Mining reported $10.15MM in revenue in April, a decrease of 4.3% compared to $10.61MM in March. The slight decrease in revenue was due to a lower average BTC price in April compared to March.

- As of April 30, GEM Mining has produced 920.9 BTC in 2022.

“GEM Mining continues to consistently mine BTC by posting the second-best production results since our company founding,” explained John Warren, CEO of GEM Mining. “We will continue to build on this success as we bring our additional 13,000 fully funded and hosted machines online by the end of 2022.”

About GEM Mining
Headquartered in Greenville, SC, GEM Mining is a privately held, institutional-grade bitcoin (BTC) mining company. The company has over 19,000 miners currently active, with an additional 13,000 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. For more information about GEM Mining, see gemmining.com.

Contacts

MEDIA: Will Crockett | 703-944-4213 | gem-mining@wachsman.com

Industry:

GEM Mining

Release Versions
English

Contacts

MEDIA: Will Crockett | 703-944-4213 | gem-mining@wachsman.com

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