- The June 2024 unaudited bitcoin production and miner installation updates were made public by Marathon Digital Holdings, Inc.
- The company’s holdings of bitcoin climbed to 18,536 BTC, while its operating hashrate increased somewhat.
June 2024 Bitcoin Production Report from Marathon Digital
In June 2024, Marathon’s (Nasdaq: MARA) average operating hashrate increased by 2% month over month to 26.3 exahash per second (EH/s).
The Ellendale facility’s full operation and operational enhancements were credited with this increase. In spite of this, the corporation saw a 40% drop in bitcoin production year over year, with the April halving producing 590 BTC. Notably, one transaction fee reached 0.85 BTC, accounting for over 7% of the total production.
The corporation kept improving its mining skills both locally and globally, as the earnings report reveals. In order to meet its goal of 50 EH/s by the end of the year, Marathon Digital concentrated on improving its sites using next-generation hardware and immersion cooling technologies domestically.
In order to improve sustainability and lower carbon emissions, the company initiated a 2-megawatt trial project in Finland. This idea warms a neighborhood by repurposing heat from digital asset computing.
We doubled our average operating hashrate year-over-year in June to 26.3 exahash, according to Fred Thiel, chairman and CEO of Marathon, as a result of operational improvements in Ellendale and the establishment being completely operational by the start of July.
According to the research, by the end of June 2024, Marathon had 18,536 BTC in total bitcoin holdings, with a $1.4 billion cash and bitcoin balance.
According to the company, it plans to sell some of its bitcoin (BTC) holdings to fund operations and use the proceeds for general corporate objectives. It also plans to look for ways to boost its bitcoin yield through strategic acquisitions. MARA’s Nasdaq shares were down 3.6% as of Wednesday at 10 a.m. EDT.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
