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Mining

Marathon Digital: Boosting Production And Challenges Ahead

admin October 18, 2022

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, 2022-10-18 12:46:00,

Burak Fatsa/iStock Unreleased via Getty Images

Marathon Digital (NASDAQ:MARA) is quickly reaping the benefits of its transition from its data center in Hardin, Montana, to its new King Mountain wind farm located in Texas.

That, with more new locations, has brought thousands of more miners online, adding about 2.0 EH/s to its mining capacity, bringing the total to 5.7 EH/s.

Along with a further update on its most recent numbers, in this article we’ll look at the difference between the strategy of MARA versus the strategy of Core Scientific (CORZ), and the pros and cons of each, helping to define how to better view MARA.

I’ll also give my thoughts on whether or not it would be advisable for MARA to take advantage of the financing offered to the Bitcoin mining sector via Binance Pool, as well as comments on the recent interest rate numbers and the probable response of the Federal Reserve.

Most recent numbers of Marathon Digital

In early October MARA released it latest production numbers, showing it had almost doubled Bitcoin production from August to September. In August the Bitcoin (BTC-USD) miner produced 184 Bitcoins, and in September it mined 360 Bitcoins.

Again, the increase was primarily from starting to scale operations in Texas after the transition from Montana. Part of that improvement was also the consequence of the loss of power at its Montana facility in June.

With the company adding approximately 19,000 more miners, it has boosted its EH/s by 2.0 exahashes to…

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To read the original article from seekingalpha.com, Click here

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