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“We mined a record 1,245 bitcoins in May, a 77% increase over the previous month and a 366% increase over May 2022,” Marathon Chairman and CEO Fred Thiel announced.
The increase in production was due to higher hashing rates and a significant increase in transaction fees, which accounted for about 11.8% of the total amount of bitcoins the company earned last month;
Marathon increased its operating hash rate by 9% in May compared to the previous month, to 15.2 EH/s. The company is on track to reach its 23 EH/s goal, and it will be reached mid-year, the CEO assured.
Earlier, Marathon Digital and Brink announced a donation drive to support Bitcoin Core developers. Bitcoin Core developers are volunteers who often work on a pro bono or donation basis to make the Bitcoin protocol work.
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“We encourage every bitcoiner and bitcoin-related company to support Bitcoin Core developers and join us in closing the gap to raise $1 million for Bitcoin Core developers,” Thiel said.
In May, Marathon Digital partnered with digital asset infrastructure developer Zero Two to set up two mining farms in Abu Dhabi;