Bit Digital and Iris Energy Report June Bitcoin (BTC) Mining Results

Bit Digital and Iris Energy reported June Bitcoin (BTC) mining results on July 5, posting one-year hash rate increases alongside reduced BTC output since April.

Bitcoin (BTC) mining company Bit Digital (NYSE:BTBT) reported a hash rate of 2.57 petahashes per second (PH/s) on June 30, up from 2.54 PH/s in May.

The company also reported mining 61.7 BTC in June, a 2.5% decrease from May. In previous reports, the company stated that it mined 63.3 BTC in May and 119.3 BTC in April.

Bit Digital further reported earnings from its other revenue streams, including aggregate staking rewards of approximately 49.8 ETH and a 3.5% blended annual percentage yield (APY) on Ethereum (ETH) staking. Additionally, the company generated $4.1 million from its Bit Digital AI contract.

Elsewhere, another BTC mining firm, Iris Energy (NASDAQ:IREN), mined 233 BTC in June, an increase from 230 BTC in May but lower than the 358 BTC mined in April. The company reported $15,490 in mining revenue for June, up from $15,079 in May.

The company reported an average operating hash rate of 9,316 PH/s in June, down from 9,414 PH/s in May. According to Iris Energy, this reduction is a result of participating in the Four Coincident Peak (4CP) savings program, power sales, Emergency Response Service (ERS) response, and equipment commissioning-related activities. However, its hash rate increased significantly year-over-year from 5,587 PH/s in June 22.

In related news, Argo Blockchain (NASDAQ:ARBK) mined 44 BTC during June, compared to 45 BTC in May and 99 BTC in April. The company's mining revenue for the month amounted to $2.9 million.

These latest results follow reports from other mining companies, many of which have highlighted hash rate increases over varying periods. Notably, Marathon Digital (NASDAQ:MARA) and Riot Platforms (NASDAQ:RIOT), two of the largest mining firms by stock market cap, both doubled their hash rates year-over-year.

On the other hand, many companies reported reduced BTC output compared to April. June marked the second full month of mining operations following Bitcoin's halving, which reduced block rewards for miners.