Marathon boosts Bitcoin production by 17% in June

In June, the American mining company Marathon Digital Holdings generated 265.6 BTC, up 17% from May.

According to the press release, the Las Vegas-based firm holds 5,784 BTC worth about $201.6 million, including 4,182 BTC bought in January for $150 million.

In the second quarter of 2021 Marathon mined 654.3 BTC, three times the level of the first three months — 191.7 BTC.

The company also reported the deployment of 1,740 miners in June, increasing their total to 19,395.

In September 2020 Marathon signed with Bitmain a contract for the purchase of 10,500 Antminer S19 Pro. In October, the firm reached an agreement with the manufacturer for the delivery of another 10,000 units. At the end of the year, the company signed a contract for 70,000 miners. The value of the deal was $170 million.

Marathon chief Fred Thiel spoke of ‘modernisation and servicing’ of systems to speed up miner deliveries in anticipation of a drop in the global Bitcoin hash rate.

“We are now better prepared to receive large upcoming deliveries and to take advantage of the expected favourable conditions for mining,” he added.

In late May 2021, Marathon announced plans to build a data center in Texas with a capacity of 300 MW. The new facility is planned to be 70% carbon-neutral.

As reported in July, Bitcoin mining difficulty fell by a record 27.94% — to 14.36 trillion hashes.

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