Marathon Digital Holdings Adopts New Strategies Ahead of Bitcoin Halving
The latest reports from Marathon Digital Holdings have revealed the company’s new approach to prepare for the upcoming Bitcoin Halving event in April 2024. The company is embracing an international joint venture model as its latest strategy to keep up with its expansion, aiming to reorient its strategies prior to the forthcoming Bitcoin halving.
The firm also plans a 30% expansion by building additional facilities in Paraguay and Abu Dhabi due to costly overhead and ongoing energization delays at its US plants. This shift toward diversifying and cutting expenses marks a pivotal move, following a successful endeavor in Abu Dhabi.
With a hash rate of 19.2 EH/s online, Marathon is currently the largest publicly traded miner. The company possesses 13,396 BTC, making it the largest public miner by Bitcoin-owned amounts alone.
JPMorgan Predicts Decline in Bitcoin Network Hash Rate
Financial giant JPMorgan predicted a potential decline in the Bitcoin network hash rate by 20% at the upcoming halving in April 2024. The firm estimated that less-efficient hardware will be decommissioned, resulting in a significant reduction.
JPMorgan’s prediction was due to the total four-year block reward opportunity estimated at $20 billion, which was 72% lower than its all-time high of $73 billion in April 2021.
Hot Take: Marathon Digital Holdings Prepares for Halving with New Strategies
Marathon Digital Holdings’ latest approach is a strategic move to ensure competitiveness and cost-effectiveness ahead of the upcoming Bitcoin halving event. By diversifying internationally and adopting renewable-powered mining, the company aims to position itself as the most regionally diverse miner while reducing manufacturing costs over time.
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