1 year ago
Marathon Digital besides noted that the alteration successful transaction fees for June was not a origin for concern, highlighting that Bitcoin Ordinals had provided a boost successful the erstwhile month.
Bitcoin mining institution Marathon Digital has linked its caller slump successful Bitcoin’s mined successful June to the upwind conditions successful Texas and a driblet successful transaction fees.
According to a July 5 statement, Marathon Digital experienced a “21%" diminution successful June for the full magnitude of Bitcoin (BTC) mined compared to the erstwhile period of May.
It was reported that Marathon produced "979 Bitcoin successful June," which, though little than May, it besides reflects a 599% summation compared to June 2022.
The superior crushed cited for the diminution of accumulation successful June was the interaction of the upwind conditions successful Texas, wherever Marathon's main operations are located. It's worthy noting that June marks the modulation from outpouring to summertime successful Texas.
“The decreased accumulation comparative to past period was owed to weather-related curtailment successful Texas and a important alteration successful transaction fees.”
Marathon Digital's Operational Highlights and Updates. Source: Marathon GlobeNewsWireCointelegraph antecedently reported connected Feb 6 that crypto mining steadfast Riot Platforms had 17,040 rigs deployed astatine its operations successful Texas offline owed to “severe wintertime weather” successful the state.
It was further explained that Marathon Digital’s transaction fees fell to astir “5.1%” of the full Bitcoin earned successful June, compared to “11.8%” earned successful May.
It was noted that the “emergence” of Bitcoin Ordinals importantly accrued transaction fees successful May, adding that portion web congestion eased successful June, the institution inactive has a affirmative outlook for the “future of mining economics.”
Related: Heating a location with a Bitcoin miner: Staying lukewarm with sats
In July 2022, upwind was besides reported to beryllium having a large interaction connected crypto miners passim Texas.
At that time, Peter Wall, CEO of crypto mining institution Argo Blockchain that operates a information halfway successful West Texas told Cointelegraph that the institution curtails mining operations erstwhile ERCOT sends retired a conservation alert.
In much caller news, a study released connected July 5 by cryptocurrency analytics level Coin Metrics revealed that Bitcoin miners made a $184 cardinal from transaction fees successful the 2nd 4th of 2023, which is much than they made passim the full twelvemonth of 2022.
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