Q2 Marathon Bitcoin Production Down 44% as Fleet Remains Crippled
Marathon had a particularly difficult production month in June after 75% of its fleet was shut down. It is still unclear when its mining facilities will be able to come back online.
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Bitcoin (BTC) mining company Marathon Digital Holdings saw a steep 43.8% drop in bitcoin production during the second quarter of 2022, with June marking the company's least productive month in over a year after the fall of its Montana factory.
In its latest mining update released on Thursday, Marathon reported that it produced 707.1 bitcoins in the second quarter of 2022, down 43.8% from the 1,258.6 bitcoins mined in the first quarter of 2022 .
Marathon's Bitcoin productivity declined through Q2 2022. The company's bitcoin production was hit particularly hard in June after Marathon's facility in Hardin, Montana was hit by a massive storm on June 11 that destroyed the power plant that powered 75% of its active fleet.
The outage made June the company's least productive month since March 2021, and threatens to continue into July. To date, the Montana facility has yet to come back online and no new blocks have been mined from the MARA mining pool since June 12.
Marathon CEO Fred Thiel acknowledged that the June storm had a major impact on productivity, but also blamed some of the blame for the lack of hash power at Marathon's new mining rigs in Texas, which have not yet been put into service.
Thiel said the company has already installed 29,640 miners "representing approximately 2.9 exahashes per second" in Texas, although its planned June power-up of its facilities has yet to materialize.
>Thiel said Compute North, the company hosting the mining facilities for Marathon's devices, will not be able to receive power until its power provider gets "confirmation from the federal agency of je. ..
Marathon had a particularly difficult production month in June after 75% of its fleet was shut down. It is still unclear when its mining facilities will be able to come back online.
New
Bitcoin (BTC) mining company Marathon Digital Holdings saw a steep 43.8% drop in bitcoin production during the second quarter of 2022, with June marking the company's least productive month in over a year after the fall of its Montana factory.
In its latest mining update released on Thursday, Marathon reported that it produced 707.1 bitcoins in the second quarter of 2022, down 43.8% from the 1,258.6 bitcoins mined in the first quarter of 2022 .
Marathon's Bitcoin productivity declined through Q2 2022. The company's bitcoin production was hit particularly hard in June after Marathon's facility in Hardin, Montana was hit by a massive storm on June 11 that destroyed the power plant that powered 75% of its active fleet.
The outage made June the company's least productive month since March 2021, and threatens to continue into July. To date, the Montana facility has yet to come back online and no new blocks have been mined from the MARA mining pool since June 12.
Marathon CEO Fred Thiel acknowledged that the June storm had a major impact on productivity, but also blamed some of the blame for the lack of hash power at Marathon's new mining rigs in Texas, which have not yet been put into service.
Thiel said the company has already installed 29,640 miners "representing approximately 2.9 exahashes per second" in Texas, although its planned June power-up of its facilities has yet to materialize.
>Thiel said Compute North, the company hosting the mining facilities for Marathon's devices, will not be able to receive power until its power provider gets "confirmation from the federal agency of je. ..
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