Bitcoin Miners Expand Operations and Boost Efficiency, Driving Substantial Growth in 2023

• Bitfarms plans to triple its hashrate to 21 EH/s by 2024, indicating significant growth potential in mining activities.

• Marathon's bitcoin production increased 210% YoY in 2023, leading to 229% YoY revenue growth, highlighting the importance of mining output.

• Marathon delivered record adjusted EBITDA of $419.9 million in 2023, demonstrating improved profitability.

• Riot lowered its bitcoin mining costs by 33% YoY to $7,539 per bitcoin in 2023, uplifting profit margins.

• Riot focuses on expanding operations, including building the potentially largest Bitcoin mining facility globally, to boost hash rate capacity.