{"id":81347,"date":"2023-07-06T13:55:55","date_gmt":"2023-07-06T10:55:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81347"},"modified":"2025-09-11T22:18:08","modified_gmt":"2025-09-11T19:18:08","slug":"marathon-cuts-june-bitcoin-production-to-979-btc","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/marathon-cuts-june-bitcoin-production-to-979-btc\/","title":{"rendered":"Marathon cuts June Bitcoin production to 979 BTC"},"content":{"rendered":"

Mining company Marathon Digital Holdings mined<\/a> 979 BTC in June. The figure collapsed by 21% relative to May’s record<\/a>, but year-over-year rose by 599%.<\/p>\n

CEO of the firm Fred Thiel explained the drop in production by weather conditions in Texas and a sharp decline in the share of revenue coming from fees \u2014 5.1% versus 11.8% in the previous month.<\/p>\n

\n

“The emergence Ordinals<\/a> significantly increased transaction fees in May, and although network load decreased in June, we view the latest trends as a sign of a positive trajectory for the mining economy,” said Marathon’s CEO.<\/p>\n<\/blockquote>\n

In June the company sold 700 BTC and by the end of the month its reserves stood at 12,538 BTC. Cash and cash equivalents on the balance sheet amounted to $113.7 million.<\/p>\n

During the month Marathon connected about 18,500 new Bitcoin miners to the network and decommissioned around 3,000 older-model units. The deployed fleet grew to about 149,900 units.<\/p>\n

As a result, the company’s operational hash rate rose 16% to 17.7 EH\/s. With uninstalled hardware, capacity could theoretically reach 21.8 EH\/s.<\/p>\n

The company expects that after the deployment of all previously purchased miners, about 66% of the hash rate will be generated by Antminer S19 XP from Bitmain<\/a>. The energy efficiency of these miners is roughly 30% higher than that of devices from the previous generation.<\/p>\n

At the end of June, the Marathon and Zero Two joint venture<\/a> began operations for Bitcoin mining in Abu Dhabi (UAE). It is expected that the project will reach a 7 EH\/s target by year-end. The company does not include this hash rate in its forecast for reaching 23 EH\/s by that date, noted Thiel.<\/p>\n

Following the release of the operational report, Marathon shares rose 3.3% in premarket trading and are valued at about $16. Over the last 30 days, the stock has risen 62.6% in line with other Bitcoin companies<\/a>.<\/p>\n

\"Marathon
Data: MarketWatch<\/a>.<\/figcaption><\/figure>\n

As noted, in the first quarter Marathon mined 2,195 BTC<\/a>, while the full-year 2022 total was 4,144 BTC.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mining company Marathon Digital Holdings mined 979 BTC in June. The figure fell by 21% versus May’s record, but year-over-year rose by 599%.<\/p>\n","protected":false},"author":1,"featured_media":81348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1185],"class_list":["post-81347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-marathon-digital-holdings"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=81347"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81347\/revisions"}],"predecessor-version":[{"id":81349,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81347\/revisions\/81349"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/81348"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=81347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=81347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=81347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}