Mara Holdings’ Bitcoin mining production slides 25% in June as it faced severe weather at its Texas facility and continued challenges that made mining more difficult across the industry. Report show.
The Florida-based company produced 713 bitcoins in June, producing 237 fewer tokens than in May. Similarly, Bitcoin Miner won just 211 blocks last month, 25% less than the record 282 blocks in May.
The company holds a total of 49,940 BTC, worth more than $5 billion as of June 30, according to the statement.
Mala attributed mining production to the weather and the advanced requirements for mining Bitcoin on native blockchains.
“The decline was primarily due to reduced uptime due to weather-related reductions and temporary deployment of old machinery in Garden City, but there was an improvement in storm-related damage,” Mara CEO Fred Thiel said in a statement Tuesday. “The natural variation in block luck – the expected dynamics when operating their own mining pools – also contributed.”
However, the company also said it would increase the network’s capacity by 40% and increase 75 exa by the end of the year. “THis goals are consistent with both a rapid expansion and commitment to low-cost electricity with efficient capital deployments,” Thiel said.
Exahash is a measure of the computing power and security of a mining network.
Bitcoin mining is a miner’s process Solve complex encryption puzzles, add transaction blocks to the Bitcoin blockchain and receive tokens in exchange for efforts to protect your network. According to the Cryptocurrency-Mining Calculator Coinwarz’, the difficulty of the process jumped from about 2.6% to 126.4 Terrahash from April 30th to June 17th. data.
According to Yahoo Finance data, Mara rose 0.1% at 15.70.
Bitcoin has recently dropped by 0.2% to $105,862, and has fallen 0.2% at the same time, according to Crypto Markets data Provider Coingecko.
The June results came amid a significant decline in mining success over the past few months, but Mara recorded a 38% increase in block production in May.
Mara’s Bitcoin mining production drop-off too The company plans to double its strategy to strengthen its token holdings. To that end, Mara announced that it will debut $2 billion in stock in March to add tokens On the balance sheet.
Miner is one of several public companies that pursued an aggressive Bitcoin acquisition, similar to previous microstrategy, which focused on the accumulation of Bitcoin from software development in 2020. bitcointreasuries.net The data will be displayed.
Edited by James Rubin