Jaran Mellerud

Bitcoin mining analyst mainly focusing on public mining companies.

Energy Arbitrage: Analyzing Bitcoin Mining’s Historical Revenue per kWh

Bitcoin miners participate in an energy arbitrage game by expending energy to generate bitcoin. Therefore, when analyzing bitcoin mining profitability, it can be helpful to look at how much miners earn per unit of energy they consume. This metric is called the revenue per kWh. In this article, I explain

Jaran Mellerud
Jaran Mellerud
Bitcoin Mining Concepts

Bitcoin Mining Around the World: Norway

Norway is the biggest bitcoin mining hub in Europe thanks to its cheap energy. But what else defines the bitcoin mining industry in this Arctic outpost?

Jaran Mellerud
Jaran Mellerud
Hashrate Index Newsletter

Why Power Prices Surged in Some Locations in 2022 while Staying low in Others

A perfect storm of unfortunate developments hit the bitcoin mining industry in 2022. Simultaneously as hashprice went down in flames and evaporated mining revenues, many miners saw their electricity prices rise as the world grappled with an energy crisis. Still, miners in specific electricity markets were spared from the worst

Jaran Mellerud
Jaran Mellerud
Hashrate Index Newsletter

Bitcoin Mining Around the World: Sweden

Sweden has become one of Europe's last bitcoin mining refuges thanks to its stranded hydropower. But what else defines the bitcoin mining industry in this Arctic outpost? This is the first article in a series describing the bitcoin mining industry in various countries. Why do bitcoin miners flock to specific

Jaran Mellerud
Jaran Mellerud
Hashrate Index Newsletter

2022: The Toughest Year Ever for Public Bitcoin Miners

In 2022, more bitcoin mining stocks traded on public markets than ever since public mining companies began cropping up in 2017. For some, it was their first full trading year - and it could also be their last. This article analyzes performances, news, and trends regarding public miners in 2022.

Jaran Mellerud
Jaran Mellerud
Public Miner Analysis
Image generated via Midjourney

Hashrate Index 2022 Bitcoin Mining Year in Review

2022 is in the books, and we cover the highs (and mostly) lows in our year in review.

Colin Harper Jaran Mellerud Balmy Investor
Research and Reports
Bitcoin Mining 2023

10 Bitcoin Mining Predictions for 2023

2023 is here, and we can finally put the dreadful bitcoin mining year of 2022 behind us. We are all curious about what this new and fresh year will bring for the bitcoin mining industry. What will miners focus on this year? What will happen to the nearly bankrupt public

Jaran Mellerud Colin Harper
Hashrate Index Newsletter

Highlights from CleanSpark's Annual Report

CleanSpark just revealed the state of its finances and operations in its latest annual report. How is it going with this fast-moving bitcoin miner? Find out in this article.

Jaran Mellerud
Jaran Mellerud
Public Miner Analysis