Marathon Digital Cements Role as Global Leader in Publicly Traded Bitcoin Mining
In July, Marathon Digital Holdings (MARA) further established its dominance as the foremost publicly traded bitcoin miner globally based on its self-mining hashrate. This refers to the computational capacity within its facilities dedicated to mining for its own wallets, rather than those of its clients.
Because Bitcoin
August 3, 2023
CoinDesk reported In July, Marathon Digital Holdings (MARA) further cemented its leading position as the largest publicly traded bitcoin miner globally in terms of self-mining hashrate. This refers to the computational power within its facilities dedicated to mining directly for its own wallets, as opposed to its clients' wallets.
During June, Marathon disclosed an operational computing power on the bitcoin network, or hashrate, of 17.7 exahash/second (EH/s). This exceeded the hashrate of the previously largest public miner, Core Scientific (CORZ), which had 15 EH/s of installed mining capacity. Moving into July, Marathon's reported hashrate surged to 18.8 EH/s. In contrast, Core Scientific has been entangled in bankruptcy proceedings since December 2022, with its self-mining hashrate showing little change since the month preceding its Chapter 11 filing.
Overcoming challenges from adverse weather and operational delays in the prior year, Marathon has been rapidly deploying mining machines throughout 2023, achieving a nearly threefold increase in its operational hashrate to reach 15 EH/s by May.
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