Bitcoin mining firm Marathon Digital reported a decline in bitcoin production for February, which was more than a month due to high network difficulty and low operating days.
The production of Marathon Digital Bitcoin (BTC) fell in 6% month in 6% month in February, as the company said due to high network difficulty and low operating days.
In a bitcoin production Report Released on March 4, the Florida company revealed a 4% increase in crypto production per day compared to January, although bitcoin production declined by 6% month. Despite the fall, the marathon’s energetic hasht remains stable, the company insisted.
“Blocks won and bitcoin production declined by 6% month, mainly due to a high network difficulty level and three low operating days. Our energetic hasht was slightly above the earlier month, and we are close to completing the construction of a 40-megavot data center in Ohio, where we plan to install more than ten thousand S21 Pro immersion miners. ,
Fred Thiel, President and CEO of Marathon Digital
Long term opportunity in AI
According to Theal, the mining company aims to strengthen its position in the artificial intelligence location, which, as the CEO of the marathon, will create additional revenue opportunities in the long term. “
“We hope that our cost will fall as we realize savings from owning our sites and generating our power, and we will be laser-centered on efficiency while driving our target of low-cost energy.” Fred Theal
Increase in network difficulty has been a challenge for miners since the insistence of bitcoin in April 2024, which reduced the prizes per mining blocks per mining from the first high levels, making it difficult to maintain production rates. With more competition on the network, less blocks are being won, which affects the production number.
The shares of the marathon on pre-market trading declined by 5% after the production update according to Yahoo Finance’s data. It is not clear that new miners for the Ohio site will be fully deployed.
