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Marathon Sets New Record with Highest Monthly Bitcoin Production

2024/01/05 00:42

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Marathon Digital surpasses competitors in December BTC output

Marathon Digital achieved a groundbreaking milestone in December by producing an unprecedented monthly total of bitcoin, surpassing the records set by its competitors.

Marathon's Remarkable Achievement:

Record-breaking Hash Rate Growth

Marathon Digital witnessed a remarkable 4% growth in its hash rate during December, reaching an impressive 24.7 exahashes per second (EH/s). This surge in computational power played a pivotal role in the company's extraordinary bitcoin mining performance.

Unprecedented Monthly Production

In December, Marathon Digital mined an astounding 1,853 bitcoin (BTC), a substantial increase from the previous month's 1,187 BTC. This achievement positions Marathon as the leading public bitcoin mining company, outshining the previous record set by Core Scientific in January 2023.

Competitive Edge:

Outpacing Competitors

Marathon's December bitcoin production significantly outstripped rivals CleanSpark and Riot Platforms, who mined 720 BTC and 619 BTC, respectively. This underscores Marathon's dominance in the industry during a period of intense competition.

Surpassing Core Scientific's Previous Record

BlocksBridge Consulting founder Nishant Sharma confirmed that Marathon's December production exceeded Core Scientific's previous public miner record of 1,527 BTC, established in January 2023.

Operational Strategy:

Strategic Bitcoin Sales

To cover operating expenses, Marathon opted to sell 704 bitcoins, representing approximately 38% of its December production. This strategic move demonstrates Marathon's commitment to maintaining a sustainable and profitable operation.

Global Expansion for Cost Reduction

Beyond increasing hash rate, Marathon strategically expanded its operations to locations like Abu Dhabi and Paraguay. This expansion aligns with the company's broader effort to reduce operational costs and enhance efficiency.

Marathon Digital's exceptional December performance positions it as an industry leader, showcasing its dedication to growth and innovation in the dynamic world of bitcoin mining.

While Marathon's achievement is noteworthy, it highlights the industry's intense focus on growth, possibly risking sustainability. The upcoming bitcoin halving in April adds a layer of uncertainty to the landscape, and companies must balance expansion with long-term viability.

Dapatkan pemahaman yang lebih luas tentang industri kripto melalui laporan informatif, dan terlibat dalam diskusi mendalam dengan penulis dan pembaca yang berpikiran sama. Anda dipersilakan untuk bergabung dengan kami di komunitas Coinlive kami yang sedang berkembang:https://t.me/CoinliveSG

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