Marathon Digital Boosts Bitcoin Mining Efforts, Aims to Achieve 50 EH/s Hashrate by 2024
Marathon Digital is ramping up its 2024 bitcoin mining goals, increasing its hashrate target from 35-37 exahash per second (EH/s) to an impressive 50 EH/s.
This expansion is made possible by recent acquisitions that have bolstered the company’s capacity. Allowing it to double its mining operations without requiring additional capital. With acquisitions including a 200-megawatt bitcoin mining center and two additional sites totaling 390 megawatts. Marathon is positioning itself as a frontrunner in the industry, already boasting a current hashrate of 24.7 EH/s. Despite a slight dip in its stock following the announcement.
Marathon’s shares rallied by 4.5% in after-hours trading, reflecting investor confidence in the company’s growth strategy. Notably, Marathon has seen a 15% increase in its stock value since the fourth Bitcoin halving event, which coincided with heightened transaction fees driven by increased demand from meme coin and NFT enthusiasts.
Clever Robot News Desk 29th April 2024
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