HomeNewsMarathon Digital Reports 21% Increase in Bitcoin Production in April

Marathon Digital Reports 21% Increase in Bitcoin Production in April

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  • The company sold 600 BTC in April to support operations and manage its treasury, holding 17,631 unrestricted Bitcoin as of April 30.
  • Marathon Digital is consulting with Kenya’s government on cryptocurrency regulations and energy needs, fostering US-East Africa trade relations and regional development.

Marathon Digital reported a sharp rise in Bitcoin production in April, surpassing expectations despite the halving event. The company’s operational report showed that it produced 850 BTC, reflecting a 21% increase compared to the previous year. This growth was largely due to a 15% boost in its operational hashrate, now at 21.1 exahash.

The increase came despite the Bitcoin halving event, which cut miners’ rewards to 3.125 BTC per block, and the launch of the Runes Protocol. However, Marathon’s improved hash rate allowed it to benefit from higher transaction fees generated by the Runes Protocol, which contributed about 16% to its Bitcoin earnings in April.

Fred Thiel, Marathon’s chairman and CEO, noted the company’s achievements, stating, 

“In April, we reached an all-time operating hash rate high of 25.9 exahash. Transaction fees also reached all-time highs around the halving, which we were able to benefit from with our Slipstream service and our proprietary mining pool.”

Marathon obtained additional Bitcoin through its Slipstream service, with one block yielding 10 BTC and another generating 16 BTC in transaction fees. In April, the company sold 600 BTC to cover monthly operations and manage its treasury, holding 17,631 unrestricted Bitcoin as of April 30.

In another development, Kenya’s president, William Ruto, announced discussions between Kenya and crypto miners about cryptocurrency regulations and mining during the AMCHAM summit. President Ruto stated, 

“Marathon Digital has been invited to consult with the National Treasury Kenya on our cryptocurrency regime and to the Ministry of Energy to discuss its energy needs in connection with cryptocurrency mining here in Kenya.”

Marathon also confirmed these discussions, indicating that its team is exploring how its digital asset data centers can promote energy development in the region and foster trade relations between the US and East Africa.

Overall, Marathon’s strong Bitcoin production and strategic discussions highlight the company’s adaptability and growing influence in the cryptocurrency sector. The recent developments emphasize its efforts to expand operations and strengthen ties with international markets.

Source → Tradingview
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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628