Marathon Digital Boosts Bitcoin Mining Target to 50 EH/s
Marathon Digital, a key player in Bitcoin mining, has adjusted its hash rate target for the fiscal year to 50 EH/s, up from the previous goal of 37 EH/s.
This adjustment follows their acquisition of a 200-megawatt Bitcoin mining center from Digital Applied. Marathon now aims for a 100% increase in mining power by year-end.
The company’s Chairman and CEO, Fred Thiel, expressed confidence in reaching the new target. He attributed this to the recent acquisition providing access to additional hash rate.
Marathon holds the title of the largest publicly traded Bitcoin mining firm globally, with ownership of over 17,000 BTC.
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Despite an increase in Bitcoin’s mining difficulty, Marathon remains committed to boosting its hash rate.
The network’s mining difficulty rose by 2% on April 24, the first adjustment post the fourth Bitcoin halving.
Despite this, the recent hash rate spike is attributed to miners joining the network to benefit from block rewards before the halving, alongside sustained transaction fees.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
