{"id":19296,"date":"2024-05-01T17:00:57","date_gmt":"2024-05-01T17:00:57","guid":{"rendered":"https:\/\/coinengineer.io\/?p=19296"},"modified":"2024-05-01T12:40:09","modified_gmt":"2024-05-01T12:40:09","slug":"coal-miner-arlp-strategic-expansion-into-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/coal-miner-arlp-strategic-expansion-into-bitcoin-mining\/","title":{"rendered":"Coal Miner ARLP Strategic Expansion into Bitcoin Mining"},"content":{"rendered":"<p>At the <a href=\"https:\/\/www.arlp.com\/\">ARLP<\/a> Q1 2024 Earnings Call, Joe Craft and Cary Marshall, ARLP CEO and ARLP CFO, respectively, responded to Bitcoin mining questions.<\/p>\n<p>ARLP is the largest coal miner in Eastern America. They produced 34.9 million tons of coal in 2023. The company mines cryptocurrency as a consequence of the growing popularity of digital assets in mainstream enterprises.<\/p>\n<p>On the call, Marhsall said that the company had a pilot for Bitcoin mining in the second half of 2020. They made the move to monetize their \u2018paid for yet unused electrical load\u2019 at River View mine.<\/p>\n<p>However, the company&#8217;s trial projects have increased over time.\u00a0At the end of Q1 2024, the company had $7.3 million in property, plant, and equipment.<\/p>\n<p>The CFO also stated that they were mining and holding approximately $30 million worth of bitcoin. The aggregate was 425 bitcoins.\u00a0He emphasized that they should not purchase cryptocurrency. Revenues covered only part of the costs.<\/p>\n<p>They also lease their excess capacity to other Bitcoin miners.<\/p>\n<p>Apart from Bitcoin mining, the company pockets royalties from coal and oil gas mines all over the country.<\/p>\n<p>&nbsp;<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/coal-miner-arlp-strategic-expansion-into-bitcoin-mining\/#ARLP_Expects_Strong_Bitcoin_Mining_Performance_Despite_Halving_Event\" title=\"ARLP Expects Strong Bitcoin Mining Performance Despite Halving Event\">ARLP Expects Strong Bitcoin Mining Performance Despite Halving Event<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/coal-miner-arlp-strategic-expansion-into-bitcoin-mining\/#ARLP_Executives_Downplay_Renewables_Focus_on_AI_and_EV_Growth\" title=\"ARLP Executives Downplay Renewables, Focus on AI and EV Growth\">ARLP Executives Downplay Renewables, Focus on AI and EV Growth<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"ARLP_Expects_Strong_Bitcoin_Mining_Performance_Despite_Halving_Event\"><\/span>ARLP Expects Strong Bitcoin Mining Performance Despite Halving Event<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Every four years or so, the <a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-halving-shows-its-effect-in-the-usa-crypto-stocks-turn-green\/\">halving<\/a> event of bitcoin occurs, which halves the total supply of bitcoin and allocates half of it to miners.<\/p>\n<p>The CFO added that they mined 69 bitcoins before the halving, which took place in the first quarter of 2024, and sold 18 of them to cover certain expenses. They expected to break even after halving, given the costs since he became positive thereafter. They would accumulate more bitcoin in the following months, as stated by the CFO, because their costs of producing them were low.<\/p>\n<p>He projected that they would mine 175\u2013190 bitcoins in 2024, some of the profit of which would be used to cover costs. By the end of the year, he was able to capture a closing net of almost 60%.<\/p>\n<h3><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"ARLP_Executives_Downplay_Renewables_Focus_on_AI_and_EV_Growth\"><\/span>ARLP Executives Downplay Renewables, Focus on AI and EV Growth<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The two executives played down the impact of renewable energy on their coal mining operations when questioned about the matter. They talked about how their business is essential in meeting the rising need for affordable power and how renewable alternatives are falling short.<\/p>\n<p>In light of the increasing competition from renewable energy sources, Joe Craft issued the following statement:<\/p>\n<p><em>&#8220;No. I think that, in fact, I guess it\u2019s probably given us some more optimism that our coal \u2026 we believe that our demand is going to be extended longer than what we thought at the time we entered into this type of strategy several years ago&#8221;<\/em><\/p>\n<p>Joe expressed that they saw a lot of opportunities in the growing rate of data centers driven by Artificial Intelligence and industrial load led by electric vehicles and battery manufacturing in the country, areas that the US looked forward to having a first mover advantage.<\/p>\n<p>The businessmen went on to say that Biden&#8217;s fossil fuel assault did little to alter the national electricity market&#8217;s underlying fundamentals.<\/p>\n<p>Trading under the symbol &#8220;ARLP&#8221; on the NASDAQ Global Select Market, Alliance Resource Partners is a master limited partnership with common units.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the ARLP Q1 2024 Earnings Call, Joe Craft and Cary Marshall, ARLP CEO and ARLP CFO, respectively, responded to Bitcoin mining questions. ARLP is the largest coal miner in Eastern America. They produced 34.9 million tons of coal in 2023. The company mines cryptocurrency as a consequence of the growing popularity of digital assets<\/p>\n","protected":false},"author":6,"featured_media":19298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[307],"class_list":["post-19296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-mining"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coal Miner ARLP Strategic Expansion into Bitcoin Mining - Coin Engineer<\/title>\n<meta name=\"description\" content=\"ARLP experienced a successful Bitcoin mining performance, mining 69 bitcoins before the first quarter 2024 halving event.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/coal-miner-arlp-strategic-expansion-into-bitcoin-mining\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coal Miner ARLP Strategic Expansion into Bitcoin Mining - 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