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04/07/24
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Marathon Digital Holdings Did Not Sell Any Bitcoin Last Month
On July 3, the world’s largest Bitcoin mining company published a press release regarding Bitcoin production and mining operation updates for last month, noting that its average operational hash rate year-over-year doubled to 26.3 exahash (EH/s) last month.
Marathon Digital Holdings’ proprietary mining pool captured 158 blocks, representing a 10 percent increase over last year, while its production declined by 40 percent year-over-year to 590 bitcoin, major due to the halving event that happened three months ago. The firm was able to energize about 13k additional miners during the month.
“As a result, MARA’s operating fleet increased to approximately 250,000 Bitcoin miners capable of producing 31.5 EH/s. In June, MARA achieved a peak overall hash rate of 28.3 EH/s. Hash rate figures are calculated according to the manufacturers’ specifications,” reads the report.
The firm revealed that it held an aggregate of 18,536 unrestricted BTC as of the end of last month and decided not to sell any BTC during the month. However, there are plans to sell some of the BTC ahead towards supporting monthly operations, managing its treasury, as well as for general corporate purposes.
“The Company also intends to continue strengthening its bitcoin holdings through strategic open-market bitcoin acquisitions and investing in other opportunities to increase its bitcoin yield,” reads the press release.
The optimisation of the firm’s recently acquired sites is ongoing with the adoption of the most recent generation hardware and immersion cooling technology. Hence, it is believed that the achievement of 50 EH/s by the end of 2024 is still possible.
A 2-megawatt pilot project was launched in Finland to warm a community with recycled heat from digital asset computing. “Integrating digital asset compute with district heating can reduce carbon emissions, lower costs, and minimize waste heat, leading to enhanced sustainability and economic savings for both industries and end-users,” said Marathon Digital Holdings.
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