Marathon Digital Holdings Reports Strong Bitcoin Production and Miner Installations in June 2024 🚀
Marathon Digital Holdings, a prominent player in digital asset mining, has recently shared its latest updates on Bitcoin production and miner installations for June 2024. The company witnessed a 2% increase in its average operational hash rate, reaching an impressive 26.3 exahashes per second (EH/s). Additionally, Marathon reported holding 18,536 BTC with a combined cash and Bitcoin value of $1.4 billion at the end of June.
Operational Performance and Enhancements 🛠️
Marathon’s operations saw significant improvements at its Ellendale facility, which fully launched in early July. These enhancements played a key role in the boost of the hash rate, resulting in a double-digit increase in the average operational hash rate compared to the previous year. The company’s proprietary mining pool secured 158 blocks in June, marking a 10% rise year-over-year. Despite this progress, there was a 40% decline in Bitcoin production due to the effects of the April halving event.
- The Ellendale facility’s operational enhancements contributed to increased hash rate
- Marathon’s mining pool secured 158 blocks in June, a 10% increase from the previous year
- The company experienced a 40% drop in Bitcoin production due to the halving event
Technological Advancements 📡
Marathon’s Chairman and CEO, Fred Thiel, highlighted the company’s technological progress, specifically the implementation of Slipstream technology. This innovation played a crucial role in optimizing transaction fees, with one transaction generating a fee of 0.85 BTC, significantly higher than the average fee of 0.15 BTC. Furthermore, ongoing efforts to optimize newly acquired sites with immersion cooling and advanced hardware are set to help Marathon achieve its 50 EH/s target by year-end.
- Implementation of Slipstream technology to optimize transaction fees
- Ongoing efforts to optimize new sites with cutting-edge hardware and cooling technology
- Targeting 50 EH/s operational hash rate by the end of the year
International Expansion 🌏
Marathon announced the launch of a pilot project in Finland, utilizing recycled heat from digital asset computing to warm a community of 11,000 residents. This initiative aims to reduce carbon emissions, lower costs, and enhance sustainability by integrating digital asset compute with district heating. The project is expected to bring economic savings to both industries and end-users.
- Launch of a pilot project in Finland to utilize recycled heat from digital asset computing
- Integration of digital asset compute with district heating for sustainability and cost reduction
- Anticipated economic savings for industries and end-users
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