In a press release, Marathon Digital Holdings said in October 615 Bitcoin (BTC) announced that it has achieved the highest monthly total in its history.
Marathon Digital, One of the World’s Largest Bitcoin Mining Companies, Announced a Record Break in October
Marathon increased its Bitcoin hashrate rate by 84% in October, reaching its highest monthly level.
Working with hosting companies and not having the infrastructure behind the mining machines, Marathon had a rough few months.
Most of his hashrate was down due to a storm in Montana in June. Hosting partner Compute North, one of the largest in the US, filed for Chapter 11 bankruptcy at the end of September, making the market nervous over Marathon’s prospects for mining installations.
Shortly after, however, Marathon tweeted that Compute North’s filing for bankruptcy would not affect its mining operations. Still, its shares were down at the time.
Despite these negativities, Marathon increased its hashrate rate by 84% by energizing 32,000 machines in October. The press release stated that the miner’s computing power is currently 7 exahash/second (EH/s), making it one of the largest miners in the world.
The remainder of Marathon’s hashrate is expected to be operational by mid-2023 through a 200-megwatt (MW) hosting deal with Applied Blockchain (APLD), an additional 42 MW with troubled Compute North, and 12 MW with undisclosed firms. The miner did not provide updates on the progress of these projects.
In this context, cryptocurrency It should be noted that the mining industry is facing multiple challenges around the world, the most important of which is increased energy consumption.
*Not investment advice.
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