However, compared to May 2023, the volume of mined bitcoins decreased by 21%. Recall that in May the company set a new record for mining the first cryptocurrency – 1,245 bitcoins, which is 77% more than in April.
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“The decrease in production from the previous month is due to worsening weather conditions in Texas and a significant decrease in transaction fees. Commissions dropped to 5.1% of total BTC earned in June, down from 11.8% in May,” said Marathon CEO Fred Thiel.
The company increased its operating hash rate to 17.7 eps and its installed hash rate to 21.8 eps.
As of June 30, Marathon owned 12,538 BTC worth about $382 million. The company decided to sell 700 BTC in June and also intends to sell some of its bitcoin assets in the future to support operations.
Earlier, Marathon and the firm Brink announced a donation drive to support Bitcoin Core developers.