Marathon Digital sets a record for the amount of BTC mined in one month.
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- Marathon Digital, a Florida-based company, has recently announced impressive Bitcoin mining results for December, reaching a milestone of 1,853 Bitcoins. This marks a notable increase of 56% compared to the previous month and a staggering 290% compared to December of the previous year.
- The success is attributed by Marathon's President and CEO, Fried Thiel, to a significant increase in hash rate, reaching 18.4% growth per month and reaching 22.4 exahashes per second. Thiel not only stopped there but also shared plans to acquire two new mining centers, totaling $179 million. This move will add an additional 390 megawatts of mining capacity to the company's current output, demonstrating a clear commitment to enhancing infrastructure to meet the growing demands of the market.
- Thiel confidently declares that Marathon will continue its goal of achieving a 30% growth in hash rate by 2024. This seems increasingly likely with the acquisition of two mining farms from Generate Capital. According to him, Marathon aims to reach 50 exahashes in the next 18 to 24 months, strengthening their position in the ever-competitive market.
- The market is witnessing fierce competition among Bitcoin mining companies, as Marathon's rival, Riot Platforms, also reinforces its strength by acquiring additional Bitcoin mining rigs worth $291 million. This move marks the largest increase in hash rate in Riot Platforms' history, showcasing the dynamic and competitive nature of the market.
- Overall, the competition among Bitcoin mining companies not only reflects the strength and growth of this industry but also serves as a driving force to improve the quality and efficiency of the entire sector, benefiting the entire community of users and investors in the cryptocurrency space.
