LATEST: Marathon Digital Holds 18,536 Bitcoin, No Sales in June

Marathon Digital Holdings, a leading Bitcoin mining giant, strategically chose not to sell any of its 18,536 Bitcoin during the recent market slump. This decision comes despite a significant downtrend in Bitcoin prices over the last month. According to their latest operations report, the firm’s unwavering commitment has maintained its asset value over $1.1 billion, underscoring a robust confidence in Bitcoin’s long-term potential.

In June, Marathon produced 590 Bitcoin, albeit lower than the previous year, yet boosted its operational hashrate by 2%, reaching 26.3 EH/s. These figures reflect operational improvements and the full capability of its Ellendale facility, marking a substantial year-over-year increase. CEO Fred Thiel credits advanced cooling technologies and next-gen hardware for setting the company on a path to potentially double its hashrate by year’s end.

Marathon’s steadfast accumulation and technological enhancements signal a bullish outlook for Bitcoin. This approach not only strengthens their market position but also influences Bitcoin’s broader valuation dynamics, particularly as the 2024 halving event approaches, which could significantly affect mining economics by reducing block rewards.

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