“We mined a record 1,245 bitcoins in May, up 77% from last month and 366% more than in May 2022,” Marathon Chairman and CEO Fred Thiel announced.
The increase in production is due to an increase in hash rate and a significant increase in transaction fees, which accounted for approximately 11.8% of the total bitcoins earned by the company last month.
In May, Marathon increased its operating hashrate by 9% month-on-month to 15.2 EH/s. The company is on track to meet its 23 EH/s target, which will be reached by mid-year, the CEO assured.
Earlier, Marathon Digital and Brink announced the start of a fundraiser to support Bitcoin Core developers. Bitcoin Core developers are volunteers who often work pro bono or on a donation basis to make the Bitcoin protocol work.
“We call on every bitcoiner and bitcoin-related company to support Bitcoin Core developers and join us to close the gap to raise $1 million for Bitcoin Core developers,” Thiel stated.
In May, Marathon Digital partnered with digital asset infrastructure developer Zero Two to set up two mining farms in Abu Dhabi.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
