Hong Kong-listed DL Holdings Group said its Bitcoin mining operations produced 110.241 BTC between September 3 and November 2, 2026, while the company sold 172 BTC for approximately $13.77 million during the same 61-day period. The November 4 exchange disclosure puts its remaining Bitcoin balance at 39.469 BTC. The sale exceeded newly mined production because DL also drew down coins held at the beginning of the reporting period.

Production and sales are separate measurements

DL reported an opening balance of 101.228 BTC, added 110.241 BTC from mining and disposed of 172 BTC, leaving 39.469 BTC at November 2. The reconciliation is exact: 101.228 + 110.241 − 172 = 39.469 BTC. Management reported an average realized sale price of approximately $80,077 per coin. Multiplying by 172 gives roughly $13.77 million in gross proceeds, before mining expenditure or other business costs.

The company reported 1.807 BTC per day in average production and an effective pool-measured hashrate of 3.85 exahashes per second. Its peak daily effective hashrate reached 4.29 EH/s. By contrast, the combined 9,695-machine fleet carries approximately 4.23 EH/s in rated hashrate. Nameplate equipment capacity and pool-measured performance are different concepts; their gap cannot be translated directly into a precise uptime percentage.

How the 9,695-machine fleet was assembled

Earlier Hong Kong exchange filings described Bitmain-supplied mining machines in Oman and Paraguay, alongside machines operating in Oklahoma. Another February company disclosure documented 547 additional units, each rated at approximately 430 TH/s, being deployed in Paraguay. The company estimated their combined power demand at about 3.058 MW using an approximately 13 J/TH efficiency assumption. Those specifications apply to the additional group, not necessarily every machine in DL’s fleet.

Bitmain’s S21 XP Hyd. specification identifies a 473 TH/s configuration operating at 5,676 watts and 12.0 joules per terahash under its rated conditions. Actual fleet electricity use depends on the deployed mix, tuning, cooling, downtime and site infrastructure. BitcoinVersus.Tech previously examined efficiency differences between Antminer generations and the operating economics behind Canaan’s mining energy costs.

The forecast is not additional Bitcoin already mined

DL projects another 100–110 BTC of production through December 31, equivalent to a little under two coins daily over the remaining period. The guidance is a corporate forecast dependent on network difficulty, market conditions, electricity and equipment availability. It must not be added to reported holdings as though the output or retention were guaranteed.

Public mining companies take different approaches to managing their coin inventories. Earlier BitcoinVersus.Tech reporting documented Bitdeer’s weekly mined-and-sold Bitcoin and BitFuFu’s output decline despite improved fleet efficiency. Selling production can provide cash for power, hosting and capital expenditures, although it also reduces exposure to future appreciation in Bitcoin held on the balance sheet.

DL explicitly labels its operating figures preliminary and unaudited. Its disclosure does not provide a complete contemporaneous breakdown of electricity bills, hosting charges, depreciation or net cash profit for the reported production period. Investors therefore cannot infer mining profitability from the $13.77 million realized sale proceeds alone.

Editor’s Note: The September 3–November 2 mining output, sales, opening and closing BTC balances, 3.85 EH/s measured hashrate and 4.23 EH/s rated capacity were verified against DL Holdings’ original November 4, 2026 Hong Kong exchange announcement. Earlier hardware acquisitions were checked against the April 29 filing, the February update and company-published Bitmain partnership coverage. Product specifications were separately checked against Bitmain support documentation. Company performance figures are unaudited. The featured image is an uncropped historical DL Holdings Group office-opening photograph published by InvestHK; it does not depict the company’s November 2026 mining operations. The in-story hardware photo and earlier independent equipment video are examples, not documentation of DL Holdings operations. Actual video playback and screenshot visual inspection remain unverified.

To donate 5,000 sats, open the article on a separate display and scan the original QR code with a compatible Bitcoin wallet. On mobile, use another screen or your wallet’s supported image-scanning feature. Verify the destination 3C9o19EH5HSiwEPyCTmEKzxhNCbo2X6TTb before sending.

We volunteer daily to ensure the information on this platform is Verifiably True. If you would like to support the research, please scan QR code.

BitcoinVersus.tech is not a financial advisor. Mining and financial-market reporting is provided for informational purposes.