Marathon Surpasses Core Scientific as Largest Bitcoin Miner
Marathon Digital Holdings has solidified its position as the world’s largest publicly traded bitcoin miner. In July, Marathon reported a hashrate of 18.8 EH/s, surpassing the former leader, Core Scientific.
- Marathon’s self-mining hashrate is higher than Core Scientific’s
- Core Scientific has been dealing with bankruptcy proceedings since December 2022
- Marathon has been rapidly increasing its operational hashrate in 2023
- The stock price of Marathon has increased by 360% in 2023
- Bitcoin miners are preparing for the next halving event in April 2024
Marathon’s success can be attributed to its consistent increase in operational hashrate and its ability to overcome past challenges. With its stock price soaring and the bitcoin halving on the horizon, Marathon is poised for further growth in the crypto mining industry.
Hot Take:
Marathon’s rise to become the largest bitcoin miner showcases the company’s determination and resilience. By prioritizing self-mining and rapidly scaling up their operations, Marathon has positioned itself as a dominant player in the market. With the increasing popularity and value of cryptocurrencies, the competition among miners will continue to intensify. It will be interesting to see how Marathon maintains its lead and adapts to future challenges in the dynamic crypto landscape.
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