Marathon Digital Sets New Bitcoin Mining Record
Bitcoin mining company Marathon Digital has achieved a new milestone by mining the highest amount of Bitcoin in a single month. According to a press release, Marathon successfully mined 1,853 Bitcoin during December, surpassing the previous record set by Core Scientific. This accomplishment solidifies Marathon’s position as a leading player in the Bitcoin mining space.
Marathon to Expand Mining Operations
In order to further expand its mining capabilities, Marathon plans to acquire two mining centers for $179 million. This will add an additional 390 megawatts of mining capacity to Marathon’s existing output. The company aims to achieve a 30% increase in energized hash rate throughout 2024.
Marathon’s Impressive Performance
Marathon’s remarkable performance in December also caught attention in the stock market, briefly becoming the most-traded public company among mid and large-cap firms in the U.S. stock market. The company outperformed renowned blue-chip companies such as Tesla, Apple, and Amazon.
Expansion Trend Among Mining Firms
Marathon is not the only mining firm expanding its operations. Cipher Mining recently acquired new mining rigs, aiming to position itself as a leading player in the industry. Tether has also increased its investment in the Bitcoin mining industry.
Hot Take: Bitcoin Mining Continues to Thrive
The record-breaking performance of Marathon Digital Holdings in December showcases the ongoing growth and expansion of the Bitcoin mining industry. With more companies like Marathon, Cipher Mining, and Tether investing in mining capabilities, the future looks promising for this sector. As cryptocurrencies gain mainstream acceptance and anticipation builds around potential regulatory developments, we can expect further advancements and achievements in the world of Bitcoin mining.
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