- This is a 599% increase over the same time last year
- And 21% less than last month
- Transaction fees in June dropped to about 5.1% from 11.8%
Yesterday, July 5, mining company Marathon Digital released its June 2023 report. In one month she managed to mine 972 bitcoins, and a total of this year – 5120 BTC. Marathon CEO, Fred Thiel, stated:
“We mined 979 BTC in June, down 21% from the previous month, but up 599% from June 2022. The decrease from May was due to weather-related restrictions in Texas, as well as a significant reduction in transaction fees. They accounted for about 5.1% of the total bitcoins we earned in June, up from 11.8% in May.”
The operating hash rate reached 17.7 EH/s in June, an 8% increase from the previous month’s 21.8 EH/s.. Nevertheless, the company aims to reach its goal of 23 EH/s
The firm also said that the Abu Dhabi facility began the hashing process earlier this week, when the first Mina-Zayedi containers went online, with plans to reach 7 EH/s by the end of the year.
“Despite the progress made, our operating hash rate is still at 21.8 EH/s, and the goal of 23 EH/s remains an outstanding achievement for us,” the mining company said in a statement.
In addition, Marathon said that as of July 1 it was storing a total of 12,538 BTC. The company has decided to sell 700 BTC during the month and intends to sell some of its portfolio in the future to support monthly operations, manage its finances and general corporate needs. At the end of the month, the firm had $113.7 million in unrestricted cash reserves and cash equivalents on its balance sheet.