MARA Bitcoin Production Slides 25% as Mining Environment Toughens
Summary
MARA Holdings’ Bitcoin mining production decreased by 25% in June, producing 713 Bitcoin, down from 950 in May. The company won 211 blocks, a reduction from 282 blocks in May. As of June 30, MARA held 49,940 BTC valued over $5 billion. The decline was attributed to poor weather conditions affecting uptime and the use of older machines during repairs. MARA plans to increase its network capacity by 40% to 75 exahashes by year-end. The Bitcoin mining difficulty rose approximately 2.6% during the same period. Despite the production drop, MARA aims to enhance its Bitcoin holdings, having announced a $2 billion stock offering for this purpose. Over 140 companies currently hold Bitcoin.
