Marathon Digital hints at AI pivot following Bitcoin production slowdown in August
Marathon Digital is focusing on artificial intelligence (AI) due to a slowdown in Bitcoin production. On September 5, the company appointed AI experts Janet George and Barbara Humpton to its board, replacing Kevin DeNuccio and Said Ouissal. Humpton is the President and CEO of Siemens USA, while George has held significant roles at Intel and other major tech companies. Marathon's chairman, Fred Thiel, highlighted the importance of AI expertise for the company's infrastructure expansion. Bitcoin production decreased by 3% to 673 BTC in August, with block wins down by 2%. The company mined its 4,000th block and increased its hash rate by 11% to 35.2 EH/s. Marathon aims to reach a hash rate of 50 EH/s by the end of 2024 and is transitioning its Granbury data center to immersion cooling technology. Market analysts suggest that Bitcoin miners could earn significant profits by integrating AI into their operations.
