Bitcoin miners are delivering record revenue results as prices hover consistently above $100,000. We examine the May production results from Iren, DMG, and Cipher Mining, analyzing their performance metrics and future growth strategies.

• Iren achieved record monthly revenue of $67 million with exceptional 74% margins
• Iren mined 627 Bitcoin in May, an 8% increase from April
• Their operational hash rate increased from 36.6 to 38.4 exahash while targeting 50 exahash by end of June
• At current Bitcoin prices, Iren projects annualized EBITDA of $651 million
• DMG maintained 2.1 exahash with slight operational decrease to optimize for summer temperatures
• DMG achieved 16.4 Bitcoin per exahash, placing them in the top three miners for efficiency
• Cipher mined 175 Bitcoin in May, a 2% increase from April
• Cipher's Black Pearl data center is scheduled for energization in June
• Mining difficulty adjustment expected on June 14th with potential reduction favorable to miners
• Forward hash price curve projecting increases to $54 per petahash per day by July

Hit the like button, subscribe to McNally Money, and let us know in the comments if you're holding any of these three companies and how you thought they performed in May.

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