Marathon miner’s bitcoin production declines

Despite a hashrate at growth, Marathon Digital undermined 979 bitcoins at June compared with 1,245 in May. A decline due to weather conditions and a strong decrease of transaction costsaccording to miner listed on the stock exchange.

Whereas Digital Marathon was congratulating itself last month on having broken its record for the number of digital coins mined, the company specializing in Bitcoin mining announced this Thursday that it had broken its record for the number of digital coins mined. 21% drop on its production for the month of June 2023 compared with the previous month.

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In June, Marathon undermined 979 bitcoinsbringing its total production for the year 2023 to over 5,000 BTC. In May, the miner listed on the Nasdaq had extracted 1245 units.

The drop in production was due to weather-related restrictions in Texas and a significant reduction in transaction fees, which fell to around 5.1% of the total bitcoins we earned in June, from 11.8% in May,” explained Marathon’s president, in a statement.

According to Fred Thielthe development of ordinals – the name given to NFTs on Bitcoin – had “considerably” increased transaction fees in May.

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“Although network congestion eased in June, we view recent trends as a positive sign for the future of the mining economy “said the executive.

In June, the Texan company also launched the new machines. Sound hash rate (hashrate) has been increased to 17.7 EH/s compared with 15.2 EH/s, an increase of around 16%. The aim is to achieve 23 EH/s by the end of the year.

In addition, we are delighted to announce that our new joint venture in Abu Dhabi began chopping earlier this week when the first containers at our Mina Zayed facility were powered up,” added Fred Thiel.

In the spring, Marathon partnered with Emirati blockchain startup Zero Two to set up crypto-mining operations in the Middle East.

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