Marathon Digital Bitcoin Production Falls 3% In August, Hash Rate Rises 11%: What's Going On?
Portfolio Pulse from Adam Eckert
Marathon Digital Holdings reported a 3% decrease in Bitcoin production for August, while its hash rate increased by 11%. The company plans to continue expanding its mining operations and aims to reach a hash rate of 50 EH/s by the end of 2024. Despite the production drop, Marathon did not sell any Bitcoin, maintaining its holdings at 25,945 BTC.
September 04, 2024 | 4:21 pm
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Marathon Digital's Bitcoin production decreased by 3% in August, but the hash rate increased by 11%. The company is expanding its operations and aims to reach a hash rate of 50 EH/s by 2024. Despite the production drop, Marathon did not sell any Bitcoin, maintaining its holdings.
The decrease in Bitcoin production might be seen as a negative, but the increase in hash rate and the company's expansion plans could offset this. The decision not to sell Bitcoin suggests confidence in future price increases. The stock's volatility reflects mixed investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100