Marathon Digital Doubles Hashrate Target to 50EH/s
Bitcoin mining company Marathon Digital has reviewed its hash rate target of 50EH/s for this fiscal year, according to a statement on April 25.
Initially, the mining company aimed to increase mining capacity by about 46%, from 24.7 EH/s to 37 EH/s, by the end of the year. However, thanks to the recent acquisition of a 200-megawatt Bitcoin mining center from Digital Applied, Marathon now expects a 100% increase in mining capacity, reaching 50 EH/s by the end of the year.
Fred Thiel, Marathon’s Chairman and CEO, expressed confidence in achieving the new goal thanks to recent acquisitions that have provided access to additional hashrate.
Thiel commented:
“Due to our current liquidity position, this growth target is also fully funded and there is no need to raise additional capital to achieve the target. By deploying state-of-the-art equipment and our own proprietary technology, we believe we can improve fleet efficiency and access 21 joules per terahash as we grow to 50 exahashes.”
Marathon is the world’s largest publicly traded Bitcoin mining company. According to data from Bitcoin Treasury, the company holds over 17,000 BTC.
Marathon’s ambitions to increase hash rate have not been thwarted despite the rapid rise in Bitcoin mining difficulty.
On April 24, the network’s mining difficulty increased by 2%, marking the first adjustment since the fourth Bitcoin halving.
Halvings reduce block subsidies, often causing mining profitability to drop dramatically. This causes some miners to stop working and the hash rate drops.
but, CryptoSlate According to the analysis, the recent hash rate surge can be attributed to miners joining the network to take advantage of the 6.25 BTC block reward before the April 20 halving. Additionally, transaction fees, especially for runes, continue to rise, providing additional incentive for miners to maintain operations.
