{"id":541580,"date":"2023-07-06T15:30:25","date_gmt":"2023-07-06T15:30:25","guid":{"rendered":"https:\/\/ktsl888.com\/?p=541580"},"modified":"2024-06-11T08:15:55","modified_gmt":"2024-06-11T08:15:55","slug":"marathon-digital-reports-21-decline-in-bitcoin-production-in-june","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/marathon-digital-reports-21-decline-in-bitcoin-production-in-june\/","title":{"rendered":"Marathon Digital Reports 21% Decline In Bitcoin Production In June"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Prominent Bitcoin mining company Marathon Digital Holdings has published its Bitcoin production and mining operation update for June 2023.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the <a href=\"https:\/\/ir.mara.com\/news-events\/press-releases\/detail\/1320\/marathon-digital-holdings-announces-bitcoin-production-and\" target=\"_blank\" rel=\"noopener nofollow\">report released yesterday<\/a>, Marathon revealed that its Bitcoin production decreased by 21% from May due to weather-related issues in Texas and a decline in transaction fees on the Bitcoin network.<\/span><\/p>\n<p><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif\">&#8220;We produced 979 bitcoin in June, down 21% from last month and up 599% from June 2022,\u201d said the Company\u2019s CEO, Fried Theil. <\/span><span style=\"font-weight: 400\">\u201cThe decreased production relative to last month was due to weather-related curtailment in Texas and a significant decrease in transaction fees, which fell to approximately 5.1% of the total bitcoin we earned in June compared to 11.8% in May,&#8221; Theil added.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Marathon boss noted that the rise of the Bitcoin ordinals contributed to an increase in network fees back in May, and although network congestion decreased in June, he stated that the mining company is quite optimistic about the future of mining economics.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Marathon\u2019s Operational Hash Rate Boosts By 16%<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Marathon\u2019s monthly report revealed that the mining company\u2019s operational hash rate gained by 16% in June, rising to 17.2 exahashes\/second (EH\/s). Its installed hash rate also increased to 21.8 EH\/a, representing an 8% gain in the last month.\u00a0<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-exchange-supply-slip-holders-interested-selling\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Bitcoin Exchange Supply Continues To Slip, Holders Not Interested In Selling?<\/a><\/p>\n<p><span style=\"font-weight: 400\">According to its CEO, Marathon remains committed to its goal of attaining 23 EH\/s by boosting its operations in North Dakota and Texas, as emphasized by its CEO.\u00a0 <\/span><\/p>\n<p><span style=\"font-weight: 400\">Theil said:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">The final steps to achieving our 23 EH\/s goal are in Ellendale, ND and Garden City, TX. The final building in Ellendale is expected to come online this month, and final Garden City tie in is also expected within that same period.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">Theil also announced that the<a href=\"https:\/\/www.globenewswire.com\/news-release\/2023\/05\/09\/2664929\/0\/en\/Marathon-Digital-Holdings-and-Zero-Two-To-Develop-and-Operate-the-First-Large-Scale-Immersion-Bitcoin-Mining-Facilities-in-Abu-Dhabi.html\" target=\"_blank\" rel=\"noopener nofollow\"> company\u2019s joint venture with Zero Two<\/a> in Abu Dhabi began operations last week and is expected to achieve a hash rate of 7 EH\/s before the end of the year. However, this JV operation does not contribute to the reported operational hash rate of 17.2 EH\/s and the mining target of 23 EH\/s.\u00a0<\/span><\/p>\n<div><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large\" src=\"https:\/\/www.tradingview.com\/x\/nJ9FLFSE\/\" alt=\"Marathon\" width=\"1479\" height=\"913\"><\/div>\n<pre style=\"text-align: center\">BTC Trading At $30,147 On The Hourly Chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/xg17RJqK\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD Chart On Tradingview.com<\/a><\/pre>\n<h2><span style=\"font-weight: 400\">Marathon\u2019s Growth In The Last Year<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Looking at its Year-Over-Year production rate, Marathon reports that its level of Bitcoin production has gone up by 599% since June 2022, moving from an average daily intake of 4.7 BTC to 32.6 BTC.\u00a0<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin-cash\/bitcoin-cash-hashrate-mining-difficulty-skyrockets-as-miners-chase-bch-profits\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Cash Hashrate, Mining Difficulty Skyrockets As Miners Chase BCH Profits<\/a><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, the company&#8217;s current operational hash rate of 17.7 EH\/s represents a stunning increase of 2,429% compared to last June\u2019s value of 0.7 EH\/s. However, its installed hash rate only experienced a percentage gain of 506% moving from 3.6 EH\/s to 21.8 EH\/s.<\/span><\/p>\n<p><span style=\"font-weight: 400\">That said, Marathon stands as a leading mining company with approximately 149,000 Bitcoin miners as of July 1, 2023.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured Image from Financial Times, chart from Tradingview<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prominent Bitcoin mining company Marathon Digital Holdings has published its Bitcoin production and mining operation update for June 2023. In the report released yesterday, Marathon revealed that its Bitcoin production decreased by 21% from May due to weather-related issues in Texas and a decline in transaction fees on the Bitcoin network. &#8220;We produced 979 bitcoin in June, down 21% from last month and up 599% from June 2022,\u201d said the Company\u2019s CEO, Fried Theil. \u201cThe decreased production relative to last month was due to weather-related curtailment in Texas and a significant decrease in transaction fees, which fell to approximately 5.1% of the total bitcoin we earned in June compared to 11.8% in May,&#8221; Theil added. The Marathon boss noted that the rise of the Bitcoin ordinals contributed to an increase in network fees back in May, and although network congestion decreased in June, he stated that the mining company is quite optimistic about the future of mining economics.\u00a0 Marathon\u2019s Operational Hash Rate Boosts By 16% Marathon\u2019s monthly report revealed that the mining company\u2019s operational hash rate gained by 16% in June, rising to 17.2 exahashes\/second (EH\/s). Its installed hash rate also increased to 21.8 EH\/a, representing an 8% gain in the last month.\u00a0 Related Reading: Bitcoin Exchange Supply Continues To Slip, Holders Not Interested In Selling? According to its CEO, Marathon remains committed to its goal of attaining 23 EH\/s by boosting its operations in North Dakota and Texas, as emphasized by its CEO.\u00a0 Theil said: The final steps to achieving our 23 EH\/s goal are in Ellendale, ND and Garden City, TX. The final building in Ellendale is expected to come online this month, and final Garden City tie in is also expected within that same period. Theil also announced that the company\u2019s joint venture with Zero Two in Abu Dhabi began operations last week and is expected to achieve a hash rate of 7 EH\/s before the end of the year. However, this JV operation does not contribute to the reported operational hash rate of 17.2 EH\/s and the mining target of 23 EH\/s.\u00a0 BTC Trading At $30,147 On The Hourly Chart | Source: BTCUSD Chart On Tradingview.com Marathon\u2019s Growth In The Last Year Looking at its Year-Over-Year production rate, Marathon reports that its level of Bitcoin production has gone up by 599% since June 2022, moving from an average daily intake of 4.7 BTC to 32.6 BTC.\u00a0 Related Reading: Bitcoin Cash Hashrate, Mining Difficulty Skyrockets As Miners Chase BCH Profits Furthermore, the company&#8217;s current operational hash rate of 17.7 EH\/s represents a stunning increase of 2,429% compared to last June\u2019s value of 0.7 EH\/s. However, its installed hash rate only experienced a percentage gain of 506% moving from 3.6 EH\/s to 21.8 EH\/s. That said, Marathon stands as a leading mining company with approximately 149,000 Bitcoin miners as of July 1, 2023. Featured Image from Financial Times, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":541582,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,55860,640,85770,83817],"class_list":["post-541580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-hashrate","tag-bitcoin-mining","tag-marathon","tag-marathon-digital"],"acf":[],"yoast_head":"\n<title>Marathon Digital Reports 21% Decline In Bitcoin Production In June<\/title>\n<meta name=\"description\" content=\"In its June Bitcoin production report released yesterday, Marathon stated that its Bitcoin production decreased by 21% from May.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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