Crypto Miner Marathon Digital Mined in Q2 50% Less Than in Q1

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US-based mining company Marathon Digital Holdings mined 707 BTC Q2 2022, which is 43.8% less than in the first three months of the year.

The figure has experienced a 8% year-over-year increase. Bitcoin mining has been declining since April.

According to the company, the decline seen during the second quarter of the year was the result of several reasons, including a delay in the supply of electricity to facilities in Texas and the hurricane that damaged a power plant in the state in June.

Fred Thiel, chairman and CEO of Marathon, has said that the company has installed a total of about 49,640 miners at infrastructure provider Compute North in Texas, with a potential hashrate of around 4.8 EH/s. The equipment is ready to connect to the network. He has added:

“Despite multiple assurances that power delivery will occur in June, supplier Compute North is still awaiting confirmation of its tax status by the federal agency.”